Fire Protection System Market Trends: Advancements in Fire Detection and Suppression Technologies
Fire Protection System Market Growth & Trends The global fire protection system market size is expected to reach USD 130.37 billion by 2030, expanding at a CAGR of 6.6% from 2023 to 2030, according to a new study by Grand View Research Inc.Modern fire alarm and detection systems are expected to see increased demand due to the ongoing development of new buildings around the world, including both residential and non-residential constructions. Modern technologies like artificial intelligence, the Internet of Things, and smart sensors being incorporated are also anticipated to drive the market. In addition, as mandatory fire safety regulations are implemented in sectors including oil & gas, manufacturing, and mining, the use of fire prevention systems is expanding. The adoption of fire protection systems is being fuelled by a variety of end-use sectors as well as escalating safety concerns and improved awareness of preventative actions. Access the Fire Protection System M