The Indian fire alarm system market is anticipated to exhibit a considerable CAGR of 8.0% during the forecast period. Fire alarm systems are in high demand in the country, owing to proper implementation of state and national policies and building codes to improve fire safety, educational campaigns focusing on smoke detectors, and behavioral changes such as the gradual decline in smoking rates. According to the India Brand Equity Foundation, India is anticipated to become the third-largest construction market across the globe by 2022. For this, the country will create the demand for nearly $777.73 billion investment in infrastructure development by 2022. The construction industry in India accounts for nearly 9% of the country’s GDP and contributes to the national economy by offering employment to a large population base. The growing adoption of fire alarm systems in commercial, industrial, and residential buildings owing to the increasing stringency in the fire safety regulations is anticipated to drive the growth of the fire alarm system market in India. 

The fire alarm system market is segmented based on products and applications. Based on product, the fire alarm system market is segmented into the conventional fire alarm system and addressable fire alarm system. Based on application, the market is segmented into commercial, industrial, and residential. The compulsion of installing fire safety systems in commercial buildings for purpose of getting insurance is anticipated to drive the growth of this market segment.

Key market players contributing to the growth of the Indian fire alarm system market include Eaton Corp., Hochiki Corp., Honeywell International Inc., Johnson Controls International plc, Nittan Company, Ltd., Panasonic Corp., Robert Bosch GmbH, and so on. A diverse product portfolio, adoption of different growth strategies continuously, strategically positioned R&D centers, and technological advancements are some of the major activities the players in the fire alarm system market are adopting to remain competitive in the marketplace. 

Research Methodology

The market study of the Indian fire alarm system market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Fire Alarm System Market Research and Analysis by Product Type
2. Indian Fire Alarm System Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Indian fire alarm system market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian fire alarm system market.
• Insights about market determinants that are stimulating the Indian fire alarm system market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Profiles and recent developments of market players.