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The global voice evacuation systems market size is estimated to grow by USD 938.28 million between 2022 and 2027 at a CAGR of 16.77%.The growth of the market depends on several factors, including the growth of the real estate and construction industries, the growing trend of smart cities, and the increasing adoption of building automation and control systems.
This report extensively covers market segmentation by end-user (commercial sector, industrial sector, and residential sector), type (voice sounders, loudspeakers, emergency microphones, and networked and wireless system), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Voice Evacuation Systems Market Driver
The growth of the real estate industry has led to an increase in the number of hospitality, tourism, and residential construction projects, which has led to a rise in the demand for emergency alarm and evacuation systems, including voice evacuation systems.
Rapid urbanization and high investments in infrastructure are driving the growth of the global construction industry.
The need to address the growing demand for housing globally is also driving the construction industry.
With the incremental growth in construction activities in the housing sector, the demand for voice evacuation systems is anticipated to rise during the forecast period.
Such factors are expected to drive the growth of the global voice evacuation systems market during the forecast period.
Significant Voice Evacuation Systems Market Trend
Major Voice Evacuation Systems Market Challenge
The market share growth by the commercial sector segment will be significant during the forecast period. The commercial sector is expected to grow due to the stringent regulations imposed by governments in different countries to standardize safety requirements. In addition, awareness among users is increasing. These factors will increase the demand for voice evacuation systems in the commercial sector.
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The commercial sector segment was valued at USD 176.31 million in 2017 and continued to grow until 2021. The US, Canada, Germany, and the UK, among others, are mature markets for voice evacuation systems in the commercial sector. However, the market in these countries will mainly be driven by replacement activities and the integration of new software into existing infrastructure. These factors will drive the growth of the segment during the forecast period.
The loudspeakers segment was the second-largest type in the global voice evacuation systems market in 2022. Intelligible and audible notifications are essential to guide people safely in case of emergency events. Loudspeakers play a vital role in providing audible notifications in guiding people out of the building.
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APAC is estimated to contribute 43% 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 market in APAC is expected to grow owing to the growing commercial sector, which is primarily led by the expansion of commercial spaces. In the industrial sector, market growth in APAC mostly originates from Southeast Asian countries such as India and Bangladesh. APAC is expected to be the fastest-growing region in the market due to the increasing industrial development and commercialization activities in countries such as India, China, and Malaysia.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 hindered the growth of the regional voice evacuation systems market during 2020-2021. However, the lifting of lockdowns in several countries and the implementation of large-scale COVID-19 vaccination drives led to the resumption of economic activities in 2021. Moreover, several governments announced stimulus packages and launched schemes to aid businesses, which helped the market recover and grow. Such factors are expected to drive the growth of the regional voice evacuation market growth during the forecast period.
Vendors 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.
AmbientSystem SP ZOO - The company offers voice evacuation systems such as control units, power amplifiers, microphones, power supply managers, and loudspeakers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Key Voice Evacuation Systems Market Customer Landscape
The report includes the adoption lifecycle of the market, 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 growth strategies.
Global Voice Evacuation Systems Market Customer Landscape
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Voice Evacuation Systems Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.77% |
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Market growth 2023-2027 |
USD 938.28 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
16.14 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 43% |
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Key countries |
US, China, India, Germany, and Russia |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AmbientSystem SP ZOO, ABB Ltd., ATEIS International SA, Audico Systems Oy, Baldwin Boxall Communications Ltd., Cofem SA, Eaton Corp. Plc, Hacousto Holland BV, 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. |
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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 |
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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. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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