Technology
Fire Protection System Market to Grow by USD 14.58 Billion (2024-2028), Boosted by IoT & Big Data Integration with Smoke Detectors, with AI Driving Market Transformation – Technavio
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4 weeks agoon
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NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report with the AI impact on market trends – 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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Fire Protection System Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 6.78%
Market growth 2024-2028
USD 14582 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
6.23
Regional analysis
North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 41%
Key countries
US, China, UK, Germany, and Japan
Key companies profiled
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
Market Driver
The Fire Protection System market is experiencing significant growth due to increasing safety concerns and regulatory requirements. Federal custodians and building owners are prioritizing fire safety in residential and commercial buildings. The labor program and policies and regulations are driving the retrofit infrastructure of existing buildings with advanced technologies such as fire detection devices, sprinkler systems, and fire extinguishers. Construction equipment and facility management companies are integrating building automation and response teams with fire control communicators and sprinkler supervisory systems. Advanced technologies like fire analysis, mapping, and real-time information are becoming essential for risk management and safety concerns. Companies like BakerRisk are providing fire analysis services using Fire Safety Order and responsible persons (RPs) to ensure compliance with building codes. Economic advancements and construction activities are leading to the adoption of fire safety norms in various sectors, including hospitals, educational institutions, and oil & gas. Fire protection system providers offer managed services, including fire detection systems, suppression systems, maintenance services, and energy efficiency solutions. Fire hose reels, hydrant systems, and automatic sprinkler systems are essential components of fire safety procedures. Fire codes and safety systems are being updated regularly, requiring installers to stay informed of regulatory updates. Advanced technologies like RFID systems, smoke detectors, heat detectors, and flame detectors are being integrated into fire protection systems to improve fire safety procedures. Wet-pipe, dry-pipe, pre-action, and deluge fire sprinklers are essential for effective fire suppression. Wireless alarm systems and water mist technology are also gaining popularity due to their efficiency and reliability.
Wireless fire detection and alarm systems are essential solutions for modern enclosed structures such as offices, hotels, monuments, halls, and warehouses. These systems do not require traditional cabling, making installation simple and quick. The system comprises a radio gateway, radio fire detectors, and radio manual call points. A dual-band system with frequencies of 433 MHz and 868 MHz, and multiple channels, ensures stable communication between devices. The absence of wires maintains the building’s interior integrity and enhances aesthetics.
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Market Challenges
The Fire Protection System market faces various challenges in the real estate sector. Federal custodians and tenants require compliance with labor programs, policies, and regulations. Retrofitting infrastructure with advanced technologies and materials, such as fire detection devices and suppression systems, can be costly and complex. Construction activities and building automation also pose challenges, as does ensuring the availability of response teams and fire control communicators. Technology and materials, including fire sprinkler systems, fire extinguishers, and fire alarm equipment, must meet stringent building codes. Executive leadership and risk management prioritize safety concerns, with Royal Assent and Fire Safety Orders driving regulatory updates. Responsible persons (RPs) in residential buildings must oversee fire safety procedures, while installers navigate supply chain disruptions and regulatory compliance. Fire analysis, including fire mapping and real-time information, is essential for effective fire safety systems. Advanced technologies like wireless sensor networks and fire suppression systems offer energy efficiency and improved response times. Fire Protection Systems encompass fire hose reels, hydrant systems, and automatic sprinkler systems, among other solutions. Energy efficiency, fire safety norms, and economic advancements continue to shape the market. Key sectors, such as hospitals, educational institutions, oil & gas, and manufacturing, prioritize fire safety procedures and systems. Fire codes and safety systems continue to evolve, with managed services and energy and power solutions playing crucial roles. Fire detection systems, including smoke detectors, heat detectors, RFID systems, and flame detectors, are essential components of comprehensive fire protection strategies. Wet-pipe, dry-pipe, pre-action, and deluge fire sprinklers, along with fire alarm systems, ensure safety in various applications. Fire sprinkler contractors and maintenance services offer expertise in designing, installing, and maintaining these systems. Fire safety systems, including smoke management and ventilation systems, are critical for minimizing damage and ensuring occupant safety. In conclusion, the Fire Protection System market faces numerous challenges, including regulatory compliance, technology integration, and cost management. However, advancements in fire detection, suppression, and analysis technologies, along with the evolving regulatory landscape, provide opportunities for growth and innovation. By prioritizing safety, efficiency, and regulatory compliance, stakeholders can create effective and sustainable fire protection solutions for various industries and applications.Fire protection systems involve significant upfront investments due to the need for various components such as alarms, smoke detectors, and fire suppression systems. The cost is further increased by the labor expenses for installation, which are high due to the intricacy of networks and the need for advanced tools. Vendors continually upgrade their solutions and innovate new technologies, driving up the cost for buyers in the residential, commercial, and government sectors.
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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 its essential role in early fire detection and warning. A fire detection system includes components like smoke detectors, alarms, water sprinklers, and fire suppression systems. These devices collaborate to identify and alert individuals through audio and visual equipment, such as speakers and alarms, during smoke, carbon monoxide, or fire incidents. Regulatory bodies, such as the National Fire Protection Association (NFPA) and the Building Code of Australia, mandate the installation of fire detection systems in various public places, including malls, hospitals, stadiums, and other public gatherings. This regulatory compliance and safety concern will boost the demand for fire detection systems and the overall fire protection system market.
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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 components include fire alarm systems, fire suppression systems, fire hose reels, fire hydrant systems, automatic sprinkler systems, smoke management systems, ventilation systems, and stairwell-pressurization systems. These systems are essential in various sectors, including hospitals, educational institutions, and commercial buildings. Policies and regulations, such as labor programs and fire safety procedures, play a crucial role in driving market growth. Retrofitting infrastructure with advanced fire protection systems is a significant trend, as is the integration of wireless sensor networks for early detection and real-time monitoring. Supply chain disruptions can impact market growth, while energy efficiency is a key consideration for many fire protection solutions. Fire sprinkler contractors are an essential part of the value chain, ensuring proper installation and maintenance of fire protection systems.
Market Research Overview
The Fire Protection System market encompasses a range of technologies and services designed to prevent, detect, and suppress fires in various structures. This includes federal custodians and tenants implementing policies and regulations to ensure fire safety. Retrofitting infrastructure with advanced technologies such as fire detection devices, sprinkler systems, and suppression systems is crucial for existing buildings. Construction equipment and facility management play key roles in installing and maintaining these systems during new building projects. Building automation and response teams are essential for effective fire control communication. Advanced technologies like fire analysis segment, mapping, real-time information, and wireless sensor networks contribute to improved fire safety. Companies specializing in fire safety norms, fire codes, and executive leadership provide essential guidance. Responsible persons (RPs) overseeing residential buildings, hospitals, educational institutions, and other structures implement fire safety procedures and ensure adherence to regulations. Fire safety norms, economic advancements, and construction activities drive the demand for fire protection systems. Key components include water supply, water delivery, and distribution systems, as well as retrofitting, fire alarms, and suppression systems. Energy efficiency, smoke management, and ventilation systems are also critical elements. Fire protection contractors offer managed services, while energy and power sectors, oil & gas industries, and wireless alarm systems further expand the market.
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
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Introducing Cultura: The Marketplace of Human Creativity
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CAMBRIDGE, Mass., Feb. 26, 2025 /PRNewswire/ — Today, we are thrilled to announce the launch of Cultura, a groundbreaking platform that redefines how creativity is valued and monetized in an era dominated by artificial intelligence. As AI increasingly commoditizes products and services, one element remains irreplaceable: authentic human connection and creativity. With Cultura, we recognize that in this age of AI abundance, human creativity is the most valuable asset, whether it’s a song, story, artwork, brand or idea, and we have built a platform to power this $62 Trillion global market. Cultura has been under development for the last year and is backed by Spaceport a leader at the intersection of IP and Web3 since 2022
“Cultura represents a bold new chapter for the creative world —one where the power of human ingenuity and intellectual property are fully recognized, rewarded and protected,” said Le Zhang, Cultura core team. “It’s exciting to finally tell the story of Cultura and our Proof-of-Rights technology, which was born from deep conversations with developers, creators and owners of globally loved brands. Many creators have questioned their roles in our future and it’s leaving them uneasy. We believe we’re unlocking unprecedented opportunities for them to unlock, secure, and monetize their creative assets on a global scale. This is a testament to our belief that in an AI-driven era, creativity remains our most valuable asset.”
Cultura is an EVM-equivalent blockchain network designed to address one of today’s most critical challenges: digitizing creative asset rights. Our innovative Proof of Rights Protocol establishes a secure and transparent system, which, in combination with Decentralized IDs to prove human authorship, allow creators and brands to safely store, validate, and monetize their work.
Imagine a digital ecosystem that combines the rigor of a global copyright office with the access of today’s decentralized marketplaces, a platform where creative ownership becomes a secure and financially rewarding asset. This will revolutionize monetization of creative assets, allowing developers to transform those assets into dynamic applications with features like composability, automated royalty flows and direct integration into ecommerce.
Built on Optimism’s OP Stack, Cultura inherits Ethereum‘s robust security while minimizing transaction fees and overhead. Integrated with the Optimism Superchain ecosystem, the network will offer seamless cross-chain interoperability with established projects like Base from Coinbase, Ink from Kraken and Soneium from Sony, making it an ideal solution for a wide range of applications. Beyond the technology, our vision is to foster a purpose-driven community of creatives and developers.
“At Optimism, we’re incredibly excited to support Cultura as it addresses a critical gap in today’s digital economy. By providing a decentralized, secure, and transparent system for creative asset rights, Cultura is unlocking a massive market. With the strength of the Superchain behind it, Cultura is well-equipped to lead the transformation of how creativity is valued and traded,” said Urv Goel, VP and Head of Global Business Development at Optimism.
With over 500,000 artists and over 500 brands teed up for launch, Cultura is poised to become the premier hub to unleash and monetize creative assets. Our flagship on-chain licensing solution, exemplified by the Spaceport Smart Licenses, has already facilitated over 3,000 commercialized agreements with prominent names such as Threadless, Toei Animation, and Roblox.
“Investing in Spaceport, the team behind Cultura, was an exciting opportunity for our team as we see this is a greenfield opportunity attempting to revolutionize an entire tech sector. Their innovative approach to digitizing and monetizing creative assets, combined with the founding team’s domain expertise solidified our excitement in supporting this endeavor. We are excited to back a project that not only reimagines the creative economy but also paves the way for a future where human creativity is rightfully celebrated.” said David Nage, Portfolio Manager, Arca.
A key component of our strategy is the cultivation of a robust developer ecosystem. Cultura offers comprehensive, developer-friendly tools and documentation designed to seamlessly integrate our technology into both on-chain dApps and off-chain platforms like Roblox. Leveraging cutting-edge blockchain technology, decentralized ID’s, and the Proof-of-Rights protocol for on-chain licensing, incredible opportunities could emerge for developers ranging from games, marketplaces, RWA tokenization, and even DeFi applications. Cultura empowers developers, creators and brands to preserve, protect, and profit from their unique artistic vision.
Our approach is simple yet transformative: the value of any creative asset network is determined by the quality of the creative assets it houses. Partnering with the largest owners of creative assets and commercialization platforms immediately legitimizes and maximizes the value of our chain for builders and users alike. Supported by leading trade organizations and industry agencies, Cultura is uniquely positioned to bridge the gap between creative ingenuity and financial opportunity.
We invite creators, brands and developers to join us on this exciting journey. Together, we can unlock the true potential of human creativity and reshape the global landscape of intellectual property. Welcome to Cultura—where your creativity becomes your most valuable asset.
For more information, please visit https://www.cultura.xyz or contact:
About Cultura
Cultura is an EVM-equivalent blockchain network and economic framework built on Optimism’s OP Stack, designed to safeguard, elevate, and monetize human creativity in an AI-driven era. Leveraging an innovative Proof-of-Rights Protocol alongside Digital IDs and seamless cross-chain interoperability, Cultura transforms creative works into secure, monetizeable assets. Our platform empowers creators, brands, and developers worldwide—whether they’re building on-chain dApps or immersive off-chain experiences—to protect and capitalize on their intellectual property. With over 500,000 artists and 500+ brands already on board and thousands of live licensing agreements facilitated with industry leaders such as Threadless, Toei Animation, and Roblox, Project Cultura is revolutionizing the global creative economy. Cultura joins a growing list of pro-human protocols like Worldchain $WLD, Story Protocol $IP, and Mantra. Cultura is currently being developed by a global team of core contributors.
For more information, visit https://www.cultura.xyz and x.com/projectcultura.
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SOURCE Cultura
Technology
TrueML Leadership Recognized at RMAI’s Annual Conference
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Kelly Knepper-Stephens, Chief Legal Officer at TrueML, received Receivables Management Association International’s President’s Award recognizing her years of contributions to the organization and Mark Ravanesi, CEO of TrueAccord, was named to RMAI’s 2025 Board of Directors
LENEXA, Kan., Feb. 26, 2025 /PRNewswire-PRWeb/ — Two leaders in the TrueML Technologies d/b/a/ TrueML family recently received recognition from the Receivables Management Association International (RMAI) at its Annual Conference. Kelly Knepper-Stephens, Chief Legal Officer at TrueML, received the President’s Award recognizing her years of contributions to the organization and Mark Ravanesi, CEO of TrueAccord, was named to RMAI’s 2025 Board of Directors.
TrueML is a parent portfolio company pursuing innovative solutions to revolutionize the financial services industry through its subsidiaries TrueAccord, an industry leader in debt collection, and TrueML Products, a financial technology software company developing machine learning-driven SaaS products that enable intelligent, digital communication including in the debt collection space.
RMAI’s President’s Award recognized Knepper-Stephens for her outstanding contributions to committee goals and innovative ideas helping further the success of RMAI and its membership. Knepper-Stephens has served on the RMAI board since 2017 and chaired the Education Committee, the Legislative Fund Committee, the Editorial & Social Media Committee, the Federal Legislative Committee, and was instrumental in forming the DEI Task Force (now the DEIB Committee). She is a regular speaker at RMAI events and on webinars, and has made countless appearances in Washington D.C. representing RMAI and advocating for the industry during pivotal regulatory developments as government affairs counsel for TrueAccord, especially around the use of digital communications in debt collection.
“The work RMAI does for the debt collection industry and its members is critical to building a better financial lifecycle for businesses and consumers, especially its ever-evolving certification standards,” said Knepper-Stephens. “As technology and regulatory advancements continue to evolve and open new doors for innovation, I’m honored to receive the President’s Award for work that I believe is so important to the future of our industry.”
At the same conference, RMAI announced the election of Ravanesi to their 2025 Board of Directors in the certified third-party collection agency seat. His experience in the industry began on the phones as a collector in 1998, moving on to hold leadership roles with major originating creditors across the U.S. and internationally over the next 15 years. As CEO of TrueAccord, the trusted leader in third-party debt collection that leverages data science and technology for better consumer engagement, his focus has been on investing in the next generation of receivables management leaders, driving innovation, delivering outstanding results for clients, and advocating for fair practices at the consumer, state, and federal levels.
“As an RMAI board member, I will endeavor to champion new technologies and innovative practices, strengthen RMAI’s voice at both federal and state levels, and promote the development and delivery of resources,” said Ravanesi. “I look forward to creating positive shared outcomes for the association and our industry and working alongside other dedicated professionals with the same goal.”
Since 2013, TrueML’s family of companies has created financial technology solutions that prioritize customer experience and revolutionize consumers’ experience seeking financial health. TrueML’s artificial intelligence-based software is used by leading businesses across industries to communicate annually with more than 25 million consumers experiencing collections using a consumer-friendly, digital-first approach. To learn more about TrueML and its subsidiaries, visit www.TrueML.co, and follow the company on LinkedIn.
About TrueML
TrueML is a parent portfolio company pursuing innovative solutions to revolutionize the financial services industry.
About TrueAccord
TrueAccord is the trusted industry leader in third-party debt collection, leveraging data science and technology to deliver superior results and a best-in-class consumer experience.
Media Contact
Noelle Robillard, TrueML, 1 3054013467, press@trueml.co, www.trueml.co
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CLEVELAND, Feb. 26, 2025 /PRNewswire/ — Tiger Pistol, the most advanced local advertising platform, today announced the release of five industry-focused benchmark reports, showcasing how localized social advertising helps brands in restaurants, home services, education, beauty and wellness, and fitness achieve stronger engagement and cost efficiencies compared to Facebook benchmarks.
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Beauty and Wellness Brands Benchmark ReportEducation Brands Benchmark ReportFitness Brands Benchmark ReportHome Service Brands Benchmark ReportRestaurant Brands Benchmark Report
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How franchise and multi-location brands outperform Facebook’s national benchmarks with local social ads.Why localized campaigns drive stronger engagement and reduce wasted ad spend.Key performance trends across industries, including cost savings, conversion rates, and audience reach.
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“These reports reinforce what we’ve seen across industries: local relevance drives better results,” added Cucchiara. “Brands that equip their locations with scalable, brand-approved local campaigns gain a competitive edge while reducing wasted ad spend.”
Tiger Pistol’s industry benchmark reports are now available for free download. Franchise leaders, multi-location marketers, and industry professionals are encouraged to explore the insights and discover how scalable local advertising can drive stronger performance.
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Tiger Pistol is a premier local advertising platform designed to streamline and simplify localized advertising through the power of automation. With a focus on three core pillars – scale, simplicity, and performance – Tiger Pistol helps franchises, multi-location brands, and marketing resellers efficiently manage and optimize digital advertising campaigns. The platform automates complex tasks, allowing users to effortlessly execute large-scale, locally relevant campaigns across top digital channels like Facebook, Instagram, TikTok, and Amazon. This automation not only enhances the ease of use but also drives superior advertising performance, making effective local marketing accessible to all levels of expertise. Learn more by visiting TigerPistol.com, or following on Twitter, Facebook, or LinkedIn.
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