According to a market report by Lucintel, the future of the voice evacuation system market looks promising with opportunities in the commercial, industrial, and residential sectors. The global voice evacuation system market is expected to reach an estimated $1,164.0 million by 2028 with a CAGR of 9.7% from 2023 to 2028. The major drivers for this market are rising adoption of building automation and control systems, growing integration of voice based systems in fire and safety products, and widespread installation of these systems in residential, private buildings, public sectors, and industrial units.
In this market, voice sounder, loudspeaker, emergency microphone, and networked & wireless system are the major segments of voice evacuation system market by product type. Lucintel forecasts that loudspeaker is expected to witness highest growth over the forecast period due to the significant use of these speakers for mass notifications during emergencies to provide proper guidance to the people for safe evacuation.
Within this market, commercial is expected to witness highest growth over the forecast period due to the supportive strict regulations imposed by the government to maintain standardized safety standards in commercial settings and increasing need for voice evacuation systems in cases of man-made or natural disasters.
APAC is expected to witness highest growth over the forecast period due to the rapid industrialization and commercialization in the region.
ABB, ATEIS International, Audico Systems Oy, Baldwin Boxall Communications, Cofem, Eaton, and Hacousto Holland are the major suppliers in the global voice evacuation system market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global voice evacuation system market by product type, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Voice Evacuation System Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global voice evacuation system market by product type, end use industry, and region, as follows:
Voice Evacuation System Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:
Voice Sounders
Loudspeakers
Emergency Microphones
Networked and Wireless System
Others
Voice Evacuation System Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:
Commercial
Industrial
Residential
Voice Evacuation System Market by Region [Shipment Analysis by Value from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the voice evacuation system market by product type (voice sounders, loudspeakers, emergency microphones, networked and wireless system, and others), end use industry (commercial, industrial, and residential), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?