Global Methyl Acrylate Market Is Estimated to Grow at a Cagr of 4.3%

The North America Fire protection systems market has been broadly classified into components and services. The components market is estimated to account for the larger share of the North America Fire protection systems market in 2014. However, the services market is expected to grow at a higher CAGR in the next five years, owing to factors such as increased time consumption, lack of resources, and overhead costs involved in managing services in-house.

Overall market size is found by adding up the market size of various components namely, fire detection components such as sensors and detectors, RFID, fire management components such as control panels and interfaces, fire analysis components such as fire mapping and analysis software, and fire modelling and simulation software, fire response components such as emergency lighting, voice evacuation and public alerts, secure communication, and fire alarm devices, and services such as engineering services, installation and design, service and maintenance, and managed services.

A number of factors such as rise in spending by enterprises for fire protection, government policies, regulations, and political pressure are driving the growth of the North America Fire protection systems market. Enterprises have increased their spending on fire protection for safeguarding infrastructure, and reduced human losses due to fire hazards. Equipment such as sensors and detectors are implemented for fire protection within the enterprise premises to provide safety. Increase in the number of enterprises and SME’s have led to the growth in fire protection systems market. The spending for fire protection systems is greater in North American region, followed by Asia Pacific, and Europe.

One challenge in fire protection is integrating user interfaces, when multiple solutions are used in the control mechanism. For example, in case of deployment of several fire detectors (or in the plan to add new ones in future), the user is...