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The voice evacuation systems market size is projected to increase by USD 1,100 million, at a CAGR of 16.84% between 2023 and 2028. The growth rate of the market depends on several factors including the growth of real estate and construction industry, the construction of smart cities and the increasing adoption of building automation and control systems. Voice evacuation is an alert system where digital voice alarms are generated to inform all personnel in the building about any mishaps or disasters to initiate quick evacuation of people to save lives and the infrastructure.
The report includes a comprehensive outlook on the voice evacuation systems market offering forecasts for the industry segmented by End-user, which comprises commercial sector, industrial sector, and residential sector. Additionally, it categorizes Types into voice sounders, loudspeakers, emergency microphones, and networked and wireless system and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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Growth of real estate and construction industry is notably driving the market growth. The growth of the real estate industry across the world has led to an increase in the number of hospitality, tourism, and residential construction projects. This has led to an uptick in demand for emergency alarm and evacuation systems, which include voice evacuation systems. Rapid urbanization and significant investments in infrastructure are aiding the growth of the global construction industry. An increase in such investments is expected to drive the growth of construction activities in the healthcare industry, which, in turn, will fuel the growth of the global voice evacuation systems market during the forecast period.
Moreover, the high consumption of emergency alarm and evacuation systems by the residential and hospitality sectors has made the construction industry one of the largest end-users in the global voice evacuation systems market. Growing construction expenditure and activities in the residential sector in developed countries such as the US are the primary reasons for the growth of the construction sector. Such factors are expected to drive the growth of the market during the forecast period.
Growing need for dynamic wayfinding is an emerging trend shaping the market growth. Most causalities that happen during emergency situations are caused because people are unable to find the building exit. Large, complex structures such as airports, hotels, and high-rise buildings employ electronic maps that can show the path by entering the desired location in electronic display devices. Dynamic Wayfinding is one such method, which advises people about the shortest route to a destination based on the information and guidance system.
As a result, similar technologies are expected to be unveiled in the future, where voice alarms and detectors will provide information according to the situation and will show safe exit ways in the case of emergencies. These advances in technology will help in the quick evacuation of buildings and save lives; however, they are expected to gain traction in emergency alarm and evacuation systems. Such factors are expected to drive the growth of the market during the forecast period.
The issue of interoperability restricting retrofitting in existing buildings is a significant challenge hindering the market growth. Voice evacuation systems are necessary for high-rise buildings to combat emergency situations immediately and effectively. The upgrade of conventional emergency systems by integrating them with more modern and updated voice evacuation systems or other control systems is extremely necessary to obtain the desired result. However, the integration of these systems is complex as it involves interoperability issues.
Further, even if end-users are willing to install these systems, the cost of retrofitting is high. Thus, the issues faced in integrating these systems are not only limited to software linkage but also to the integration of data sharing with all systems to streamline automation, which will pose a challenge to the market during the forecast period.
The market share growth by the commercial sector segment will be significant during the forecast period. Globally, the commercial sector is anticipated to witness the highest growth rate among all the end-user segments due to the stringent regulations imposed by governments in different countries to standardize safety requirements, as well as increasing awareness among users.
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The commercial sector was the largest segment and was valued at USD 220.00 million in 2018. Further, the development of software to integrate fire alarms and security control systems with voice evacuation systems will be the major technological development in the industry. However, the commercial construction sector in MEA is predicted to grow at a considerable pace due to the growing tourism sector in Middle Eastern countries. Dammam, which is emerging as a commercial hub in Saudi Arabia, is also set to drive revenues for the voice evacuation market during the forecast period. The retail sector in the city is also expected to witness the addition of malls and commercial spaces, such as the Al-Rehab project, which will positively impact the growth of the market during the forecast period.
The voice sounders segment holds the largest share of the voice evacuation systems market. A voice sounder is a specialized type of loudspeaker designed specifically for emergency and safety communication purposes. Voice sounders offer user-friendly interfaces and customizable messages, allowing for easier and more effective communication with building occupants during emergencies. This usability factor is driving voice sounders' adoption. Voice sounders are increasingly being integrated into comprehensive security and safety systems, offering a centralized solution for emergency response. This integration drives the demand for advanced voice-based communication within these systems, which will drive the growth of the voice sounder segment of the market during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the voice evacuation systems market in APAC is mainly attributed to the growing commercial sector, which is primarily led by the expansion in commercial spaces. Industries and commercial buildings are the major segments that deploy voice evacuation systems along with emergency alarm systems. In the industrial sector, market growth in APAC will mostly stem from Southeast Asian countries such as India and Bangladesh. The Association of Southeast Asian Nations (ASEAN), as well as other APAC countries, is also expected to witness an expansion in the industrial sector.
In addition, all the countries in APAC have codes and standards for fire protection and control. Some of the developed countries in APAC, such as Japan and Australia, make the installation of fire safety and security systems, including voice evacuation systems, mandatory in commercial, residential, and industrial sectors. On the other hand, in India, China, and many other developing countries, these mandatory fire and safety regulations are restricted to the industrial and commercial sectors. Such factors are expected to drive the regional market growth during the forecast period.
Voice Evacuation Systems Market forecasts include the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their voice evacuation systems market growth and trends strategies.
Global Voice Evacuation Systems Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
4EVAC Hacousto Holland BV - The company offers voice evacuation systems such as EN 54-16 voice alarm control and indicating equipment which is being designed to alarm sound in order to evacuate the building or any premises area during any sort of fire incidents or emergency evacuation.
ABB Ltd. - The company offers voice evacuation systems such as Totalflow Voice Alarm System (VAS) which is a Microsoft Windows-based program.
Ambient System SP ZOO - The company offers voice evacuation systems which is designed for audio transmission to notify occupants with an alarm tone in harsh acoustic conditions.
The Voice Evacuation Systems Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Voice Evacuation Systems Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The voice evacuation systems market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028
Voice Evacuation Systems Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.84% |
Market growth 2024-2028 |
USD 1,100 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
16.05 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, India, Germany, and Russia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
4EVAC Hacousto Holland BV, ABB Ltd., Ambient System SP ZOO, ATEIS International SA, Audico Systems Oy, Baldwin Boxall Communications Ltd., Cofem SA, Eaton Corp. Plc, Hochiki America Corp., Honeywell International Inc., Johnson Controls International Plc, Mircom Group of Companies, NAFFCO FZCO, OPTIMUS SA, ORR Protection Systems Inc., Protec Fire and Security Group Ltd., Robert Bosch GmbH, Siemens AG, TOA Corp., and Zeta Alarms Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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