The latest research study by IMARC Group, “Intelligent Evacuation System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on global intelligent evacuation system market growth. The global intelligent evacuation system market reached a value of US$ 674.1 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 950.82 Million by 2027, exhibiting a CAGR of 5.70% during 2022-2027.
Intelligent Evacuation System Industry Outlook:
An intelligent evacuation system is an alert and response generation solution to enhance the safety level of individuals during an emergency. It includes various integrated software and hardware system which stimulate the safety protocol by generating notifications and alerts to conduct hassle-free evacuation during natural violence, disasters, and extreme weather conditions. It provides various benefits, such as accurate and real-time count of evacuees, increased accountability, availability of last-known location, robust reporting functionality, regulatory compliance, optimum security, and reaffirms commitment to safety and health standards. As a result, intelligent evacuation systems are installed in commercial, residential, and industrial sectors.
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Market Trends:
The market is primarily driven by rising consumer awareness regarding safety and security, and the consequent requirement for advanced emergency response systems. In addition, the implementation of favorable government policies to install intelligent evacuation systems in commercial, industrial, and residential complexes to increase public safety and reduce casualties is contributing to market growth.
Moreover, the widespread adoption of building automation and control systems is accelerating the product adoption rate. Besides this, continual technological advancements, including the integration of connected devices with artificial intelligence (AI), cloud computing solutions, and the Internet of Things (IoT), represents another major growth-inducing factor.
These solutions are extensively used in smart constructions incorporated with crowd monitoring solutions, such as Bluetooth, computer vision, global position system (GPS), radio frequency identification (RFID), and infrared (IR) transmitters and receivers, to stimulate controlled evacuations. Furthermore, extensive research and development (R&D) activities conducted by key players and the escalating demand for automated building and home security solutions are creating a positive market outlook.
| Intelligent Evacuation System Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 674.1 Million |
| Market forecast in 2027 | US$ 950.82 Million |
| Growth Rate | CAGR of 5.70% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Deployment, End Users and Region |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Deployment:
- Voice Evacuation System
- Mass Notification System
- Emergency Lighting
Breakup by End Users:
- Commercial
- Industrial
- Residential
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are ABB Ltd, Automated Logic Corporation (Carrier Global Corporation), Beckhoff Automation GmbH & Co. KG, Eaton Corp. Plc, Hochiki Corporation, Honeywell International Inc., Johnson Controls International Plc, Legrand, Robert Bosch GmbH and Siemens AG.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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