About this market
Introduction of wireless communication to drive growth in the market. Wireless communication in emergency alarms is an upcoming trend in the market. This allows the integration of existing control system with voice alarms, resulting in easy handling, increased efficiency, and low maintenance. The analysts have predicted that the voice evacuation systems market will register a CAGR of more than 11% by 2023.
Market Overview
Growing trend of smart cities
The upcoming initiatives and projects are expected to boost the growth of the voice evacuation systems market during the forecast period.
High initial cost of installation
In small and medium-sized buildings, mainly emergency alarm and evacuation systems are quite expensive to install. Hence these poses as major challenge to the market.
For the detailed list of factors that will drive and challenge the growth of the voice evacuation systems market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Robert Bosch and Siemens the competitive environment is quite intense. Factors such as the rising trend of smart cities and the introduction of wireless communication, will provide considerable growth opportunities to voice evacuation systems manufactures. Eaton, Honeywell International, Johnson Controls, Robert Bosch, and Siemens are some of the major companies covered in this report.