NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Fire Protection System Market size is estimated to grow by USD 14.58 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.78% during the forecast period. Integration of smoke detectors with IOT and big data is driving market growth, with a trend towards growth in adoption of wireless technology in fire detection systems However, high installation and maintenance cost of fire protection systems poses a challenge – Key market players include ABB Ltd., API Group Corp., Carrier Global Corp., Eaton Corp. Plc, Encore Fire Protection, Fire Suppression Ltd., Fireline Corp., Firetrol Protection Systems Inc., Gentex Corp., Halma Plc, Hochiki America Corp., Honeywell International Inc., Johnson Controls International Plc., Minimax GmbH, Napco Security Technologies Inc., RTX Corp., Robert Bosch GmbH, Securitas AB, Securiton AG, and Siemens AG.

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Market Driver

Wireless fire detection and alarm systems are essential solutions for modern enclosed structures, such as offices, hotels, monuments, halls, and warehouses. These systems consist of a radio gateway, radio fire detectors, and radio manual call points. Communication between devices occurs via a dual-band system with two frequency ranges (433 MHz and 868 MHz) and multiple channels, ensuring stable communication. Redundant transmission paths are available, enhancing reliability. Integration with traditional fire protection systems is possible, enabling the upgrading of existing systems. For instance, Johnson Controls, a leading provider of smart, healthy, and sustainable building solutions, has integrated body-worn cameras, autonomous robots, and package screening technology to expand its comprehensive building security portfolio. 

The Fire Protection System market is thriving with trends such as ventilation systems and stairwell-pressurization systems ensuring better fire safety in buildings. Fire sprinkler contractors focus on energy efficiency and adhering to fire codes. Fire safety procedures and systems, including fire suppression, sprinklers, detection, response, and alarm systems, are essential. Wet-pipe, dry-pipe, pre-action, deluge, and water mist technology are key sprinkler types. Managed services, energy and power, oil & gas, and wireless alarm systems are also popular. Policies and regulations, retrofit infrastructure, and labor programs guide the industry. Construction equipment, facility management, building automation, and advanced technologies enhance fire safety. Response teams, fire control communicators, and sprinkler supervisory systems ensure effective fire management. Fire detection devices and materials are continually improving, with RFID systems and flame detectors leading the way. 

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Market Challenges

Fire protection systems involve significant upfront investments due to the necessity of various components, including alarms, smoke detectors, and fire suppression systems. The installation costs are high because of the intricacy of networks and the requirement for advanced tools to respond effectively to fire situations. Vendors must continually upgrade their solutions and create new technologies, leading to increased procurement costs for businesses and government entities. Consequently, the high installation and maintenance expenses of fire protection systems may restrict market expansion during the forecast period.The Fire Protection System market faces several challenges in various sectors. In residential buildings, ensuring compliance with building codes for fire safety equipment like fire extinguishers and fire alarm equipment is crucial. Executive leadership and risk management prioritize safety concerns, especially with the Royal Assent and Fire Safety Order mandating responsible persons (RPs) to oversee fire safety. For installers, keeping up with regulatory updates is essential. In the Fire Analysis segment, real-time information from fire mapping and analysis systems, such as BakerRisk, helps identify potential risks. Economic advancements and construction activities necessitate retrofitting existing structures with sprinkler systems, water supply, water delivery, and distribution systems. Maintenance services for fire hose reels, hydrant systems, and suppression systems are vital to ensure optimal performance. Fire detection systems in hospitals and educational institutions require continuous monitoring to prevent supply chain disruptions. Wireless sensor networks and advanced fire suppression systems are key investments for improved fire safety norms. Carrier and other market leaders offer comprehensive fire protection solutions, including fire detection, suppression, and mapping systems.

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Segment Overview

This fire protection system market report extensively covers market segmentation by

Product 1.1 Fire detection1.2 Fire suppression1.3 Fire response1.4 Fire analysisApplication 2.1 Commercial2.2 Industrial2.3 ResidentialGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Fire detection- The fire detection product segment dominates the global fire protection system market due to the widespread use of fire detection systems in various industries and public places. These systems consist of essential components like smoke detectors, alarms, water sprinklers, and fire suppression equipment. They work together to detect and alert people through speakers and alarms upon sensing smoke, carbon monoxide, or fire. Regulatory bodies, such as the National Fire Protection Association and the Building Code of Australia, mandate the installation of these systems in public places like malls, hospitals, stadiums, and other gatherings, driving market growth.

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Research Analysis

The Fire Protection System Market encompasses a range of technologies and services designed to prevent, detect, and suppress fires in various structures. Key drivers for this market include policies and regulations, labor programs, and the retrofitting of infrastructure with fire safety systems. Construction equipment and facility management companies play a crucial role in installing and maintaining these systems. Hospitals and educational institutions are significant end-users due to the high risk of fire and the need to protect people and assets. Fire alarm systems, fire suppression systems, fire hose reels, fire hydrant systems, automatic sprinkler systems, smoke management, ventilation systems, and stairwell-pressurization systems are essential components of fire protection systems. Fire safety procedures and energy efficiency are also critical considerations in the market. Wireless sensor networks and supply chain disruptions can impact the availability and cost of fire protection equipment. Fire sprinkler contractors provide essential services in the installation and maintenance of these systems. Overall, the Fire Protection System Market is a dynamic and growing industry that plays a vital role in ensuring the safety of people and assets in various sectors.

Market Research Overview

The Fire Protection System Market encompasses a range of technologies, materials, and services designed to prevent, detect, and suppress fires in various structures. Key market drivers include policies and regulations, such as the Federal Custodians and Tenants Fire Safety Act, Labor Programs, and Building Codes, which mandate the installation and maintenance of fire protection systems in residential and commercial buildings. Advanced technologies, like fire detection devices, building automation, and response teams, play a crucial role in enhancing fire safety. Retrofitting infrastructure, construction equipment, and facility management also contribute to the market’s growth. Economic advancements and construction activities create new opportunities for fire protection systems, particularly in sectors like hospitals, educational institutions, and high-rise residential buildings. Advanced technologies, such as fire analysis segment, real-time information systems, and wireless sensor networks, are transforming the market with their ability to provide early fire detection and efficient response. The market includes various types of fire protection systems, including sprinkler systems, suppression systems, and fire detection systems, as well as services like maintenance and installation. Executive leadership, risk management, and safety concerns are essential factors influencing market trends. Regulatory updates and fire safety norms continue to shape the market landscape, with key players focusing on energy efficiency, fire safety procedures, and fire codes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductFire DetectionFire SuppressionFire ResponseFire AnalysisApplicationCommercialIndustrialResidentialGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Product Updates Build Connection Between Solutions and Teams While Delivering Contextual Intelligence—All to Help Social Impact Organizations Raise More, Save More and Work Smarter

CHARLESTON, S.C., Sept. 24, 2024 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today kicked off its annual technology conference, bbcon, announcing a wide range of innovation shaping the future of social impact technology.

“Our 40-plus years of expertise in this space and unwavering focus help us drive innovation that empowers our customers to achieve their missions,” said Mike Gianoni, president, CEO and vice chairman of the board of directors, Blackbaud. “We are transforming the way social impact organizations operate, giving back time and improving data-backed decision making. With cutting edge technology, thousands of customers—from nonprofits, to schools, foundations, companies and more—are amplifying their impact across communities and around the world. We’re proud to be the chosen partner of so many incredible organizations, and we’re committed to continue delivering for them.”

Innovation to Fuel Impact
Blackbaud unveiled a range of product updates and enhancements aimed at connecting workflows and teams to free up time and provide users the insight they need to deliver their best results, without guesswork.

The Future of Blackbaud Raiser’s Edge NXT®
Blackbaud shared its plans and progress for the next generation of its market-leading fundraising software, building on its commitment to roll out a reimagined user experience with all critical-end-to-end workflows and enhanced functionality in a single, unified view by the end of 2025. Key updates include:

A new navigation, making it easier and more intuitive for both fundraising and finance users to quickly find what they need among an expanded array of menu options.A common records engine for K-12 school fundraisers launching this year that will provide a complete picture of donors by connecting data across the entire school community.New donor recognition program management capabilities, coming in 2025, to automatically tie gifts to these programs for deeper donor engagement.

Intelligence for Good®: AI Built for Social Impact
Blackbaud is building AI that delivers fundraising performance, benchmarking and forecasting directly in-product, providing social impact professionals with insights connected to their business data and built on Blackbaud’s 40 years of sector leadership. Planned AI advancements include:

Blackbaud Copilot, an AI-powered coach and assistant that allows users to interact with their data in natural language, ask questions, and gain insights. Copilot is already embedded in Blackbaud Impact Edge™, and a technical preview in both Raiser’s Edge NXT and Financial Edge NXT® is planned for 2025 to help fundraisers understand, plan for and engage with high priority donors and prospects, and to help simplify fund accounting by combining automation and personalization.New performance insights to help organizations see how they stack up against others, based on Blackbaud’s rich benchmarking data.New tools for education customers, like an Award Cycle Manager within Blackbaud Award Management™ to give scholarship administrators a centralized view and KPIs, and an “at-risk” student tool for Blackbaud’s K-12 Education Management portfolio to help teachers identify students in need of extra support by consolidating data on attendance, test scores and work completion.

Accelerated Giving to Raise and Save More
Blackbaud continues to innovate across its integrated payments experiences to help organizations raise more and save more so that they can invest in their missions. Exciting updates include:

A wider global roll out of Blackbaud’s Optimized and Standard Donation Forms, proven to increase conversion rates, including the recent addition of the Intelligent Ask feature powered by Blackbaud AI, which ensures fundraisers target the right gift amount for each donor.Tap-to-pay capabilities that will allow supporters to tap their card on a mobile device to donate, pay entry fees or buy swag.The extension of Blackbaud’s Complete Cover offering—the social impact sector’s only solution with guaranteed 0% processing fees—to an initial set of partners, including Trellis for auctions and events and Almabase for higher education giving days.

Connected Financial Management
Blackbaud is connecting workflows throughout the finance office. The company will deliver 100% of core Financial Edge NXT capabilities in a unified view in Q1 of 2025, including new and improved Query and reconciliation functionality. Additional enhancements include:

Automated invoice scanning using Microsoft AI Document Intelligence to automate the entire payables process from start to finish directly in Financial Edge NXT.Payment Assistant for fully automated bill pay in Financial Edge NXT, helping customers to save hours a week with auto-reconciliation of payment assistant transactions, to reduce processing costs and to benefit from robust, built-in fraud protection.Deeper integration between Raiser’s Edge NXT and Financial Edge NXT to connect workflows from donation through disbursement with fewer manual steps, making it easier and faster to let donors know what their gifts paid for and when.Financial Edge NXT integration with Blackbaud Grantmaking™, connecting departments and surfacing the right financial data at the right time.

Extensibility and Flexibility
Blackbaud is combining the power of purpose-built software designed specifically for the business operations of social impact with platform-level flexibility to enable endless possibilities. The company is delivering more plug-and-play apps, system integrators and consulting services in the Blackbaud Marketplace, plus:

New partner integrations, including the connection of Blackbaud Education Management with UBIQ Education and BrightArrow, enabling K12 schools to power best-in-class school websites, connect their data, leverage marketing capabilities to drive enrollment, and give faculty access to mass communication functionality for all their classes, teams, advisories and more.The expansion of Red Arc’s existing integration for Raiser’s Edge NXT to Blackbaud CRM™ cloud-hosted customers, to directly connect their preferred digital marketing solutions, like Constant Contact, Mailchimp, HubSpot or Salesforce Marketing Cloud, to their CRM.New SKY Add-ins™ for both low-code and pro-code developers to create hyper-specific solutions and access partner solutions without ever leaving Blackbaud software. Six new Microsoft Power Platform-certified connectors offering more flexibility, plus added low-code tools for Blackbaud CRM that have already been popular in Raiser’s Edge NXT for embedding power automate workflows, power apps, adaptive cards and Power BI extensions.

Happening at bbcon 2024
bbcon 2024 is taking place this week in Seattle, welcoming thousands of social impact professionals for three days of unmatched networking, the latest in industry trends and inspiring keynotes. The agenda features a day-two keynote conversation with Emmy® award-winning actress and nonprofit founder Sheryl Lee Ralph, as well as a day-three appearance by Dr. Alex George, a bestselling author and podcaster focused on resilience and mental wellness. As the presenting sponsor, Microsoft will deliver several sessions on how nonprofits can use AI with their data to drive mission success around fundraising and campaign planning.

Mainstage sessions can be livestreamed for free through the bbcon virtual pass, with replay content available on demand beginning October 15. Visit bbconference.com for more information, and for more details on Blackbaud’s product roadmap, register to attend the Blackbaud Product Update Briefings, happening Nov. 12-14.

About Blackbaud
Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud’s essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud’s solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek’s list of America’s Most Responsible Companies, Quartz’s list of Best Companies for Remote Workers, and Forbes’ list of America’s Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.

Media Inquiries
media@blackbaud.com

Forward-looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Blackbaud’s investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.

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SOURCE Blackbaud

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global event management as a service market size is estimated to grow by USD 576.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 12.1% during the forecast period. increasing demand for online registration and payment is driving market growth, with a trend towards emergence of ibeacons for event management However, threat from open-source event management software poses a challenge – Key market players include Accelevents Inc., Active Network LLC, Arlo Software Ltd., Aventri Inc., Bitrix Inc., Bizzabo, Certain Inc., Cvent Holding Corp., Event Temple Labs Inc., Eventbrite Inc., Fortive Corp., Glue Up, Hopin, New Work SE, RainFocus LLC, Ungerboeck, WebMobi, Whova Inc., XING Events GmbH, and Zoho Corp. Pvt. Ltd..

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Market Driver

The Event Management as a Service market refers to the outsourcing of event planning and execution to specialized companies. Businesses can benefit from this model by reducing costs, improving efficiency, and gaining access to expert resources. Event management companies offer a range of services, including venue selection, vendor coordination, logistics, and marketing. By partnering with a reputable event management firm, businesses can focus on their core competencies while ensuring the success of their events. 

Event Management as a Service (EMaaS) is a growing trend in the business world, offering specialized tools and mobile applications to simplify event planning for event organizers. With the increasing complexity of events, productivity is key. EMaaS provides real-time interaction, email notifications, and feedback collection to ensure informed choices for future events. Blockchain technology adds security, while functionality adapts to cultural variations and communication hurdles. Small businesses on tight budgets benefit from automation of tasks, training staff, and internal communication. Personalized experiences and real-time feedback mechanisms enhance the overall experience for varied audiences. Cloud-based software offers low maintenance costs, virtual storage, and backup-restore facilities. Service delivery is seamless, and data-handling attributes ensure security. Assumptions are minimized through automated tasks and real-time interaction. Specialized tools cater to the needs of worldwide conferences, exhibits, and cultural events, making event management more efficient and effective. 

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Market Challenges

The Event Management as a Service market refers to the outsourcing of event planning and execution to specialized companies. Businesses can leverage this model to save time and resources, focusing on their core operations. Service providers offer end-to-end solutions, from venue selection and vendor coordination to attendee management and post-event analysis. This market continues to grow as more companies recognize the benefits of partnering with experts to deliver successful events.The Event Management as a Service market faces several challenges. Purchasing tickets and interaction are key areas where seamless digital solutions are required. In the software segment, capabilities for financial management, conference scheduling, logistical management, vendor management, and monitoring of tasks are essential. Corporate spending and shifting customer preferences towards virtual events present challenges. Sustainability initiatives, regulatory compliance, and emerging markets require adaptability. Economic downturns, seasonality, security issues, environmental factors, event type, and client type add complexity. Event management software, digital tools, and cloud-based platforms offer solutions, including virtual exhibitor booths, chat functionality, live broadcasting, content distribution, and virtual event platforms. Regulatory restrictions and security issues necessitate robust solutions.

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Segment Overview

This event management as a service market report extensively covers market segmentation by

End-user 1.1 Corporate1.2 PO and NGO1.3 IndividualsType 2.1 Pre-event services2.2 Onsite services2.3 Post-event servicesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Corporate- The Event Management as a Service market is experiencing significant growth due to the complete digitization of core event management processes and the adoption of customer-centricity. This segment caters to end-users such as private organizations, corporations, trading associations, educational institutions, and political parties. By outsourcing event management services, these organizations can effectively manage event logistics and enhance operational efficiency, resulting in cost savings of nearly 30%. Services include research, venue selection, hotel reservations, transportation arrangements, food and entertainment planning, site visits, and event execution. The corporate segment is particularly thriving in the UAE, where the government’s strong support for the MICE industry, as outlined in initiatives like Dubai Tourism Vision 2020 and Abu Dhabi Economic Vision 2030, fuels growth. Favorable policy adjustments, enhanced government funding, and robust infrastructure developments create an ideal environment for the expansion of event management enterprises in the UAE, contributing to the growth of the corporate segment of the global Event Management as a Service market.

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Research Analysis

The Event Management as a Service (EMaaS) market is experiencing significant growth due to various factors. Corporate spending on events is on the rise, driven by the understanding that well-executed events can boost brand awareness and customer engagement. Shifting customer preferences towards virtual and hybrid events are also fueling the market’s growth. Sustainability initiatives and regulatory compliance are becoming increasingly important considerations in event planning. Emerging markets and regulatory restrictions present both opportunities and challenges. Economic downturns and seasonality can impact event attendance and budgets. Event management software, digital tools, cloud-based platforms, and mobile applications are transforming the industry, offering event managers specialized tools to streamline processes, increase productivity, and provide informed choices for event organizers. The complexity of events and the importance of delivering an overall excellent experience continue to be key drivers. Blockchain technology and data-handling attributes are gaining attention for their potential to enhance security and streamline event operations. Opinions and behavior of attendees continue to shape event strategies, with a focus on providing informed choices for future events.

Market Research Overview

The Event Management as a Service (EMaaS) market is experiencing significant growth due to corporate spending shifts, changing customer preferences, and sustainability initiatives. Regulatory compliance, economic downturns, seasonality, security issues, and environmental factors also impact the industry. EMaaS offers various tools such as event management software, digital tools, cloud-based platforms, mobile applications, and specialized tools to manage the complexity of events. Event strategies, productivity, and engagement are key considerations, with blockchain, functionality, and security being essential features. Small businesses with tight budgets benefit from EMaaS, while end-user organizations require real-time interaction, personalized experiences, and data-handling attributes. Assumptions about automation of tasks, email notifications, feedback collection, and training staff are important for effective event planning. Cultural variations and communication hurdles present challenges for planning varied audiences and cross-border activities. New features like gamification, AI-powered chatbots, and social media engagement enhance the overall experience for attendees.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userCorporatePO And NGOIndividualsTypePre-event ServicesOnsite ServicesPost-event ServicesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-event-management-as-a-service-market-is-projected-to-grow-by-usd-576-5-million-from-2024-2028–with-ai-impacting-trends-and-rising-demand-for-online-registration-and-payments—technavio-302256076.html

SOURCE Technavio