Voice Evacuation Systems Market Size, Share, Growth, and Global Industry Analysis by Type (Voice Sounders, Loudspeakers, Emergency Microphones, and Networked & Wireless Systems), By Application (Commercial Building, Transportation, and Others), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

VOICE EVACUATION SYSTEMS MARKET REPORT OVERVIEW

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The global voice evacuation systems market size was USD 712.9 million in 2022 and is projected to touch USD 1484.85 million by 2031, exhibiting a CAGR of 8.5% during the forecast period.

Voice evacuation systems is a software and hardware solution designed to make easy safety evacuation protocols during an emergency. This system uses amplifiers and speakers to notify consumers with an alarm tone. This system is also followed by a voice instead of the traditional bell or horn. Further, it provides the ability for live voice announcements by the department or emergency personnel through a local paging microphone. These voice notification systems are most commonly installed in two types of building occupancies.

The increasing growth of the construction industries and real estate is expected to drive voice evacuation systems market growth. High consumption of  emergency alarms by the hospitality and residential sectors has made the construction industry to boost market adoption. Further, growing construction activities and expenditure for the raw materials in the developed countries are anticipated to accelerate product demand.

COVID 19 Impact: Need for the Product During Pandemic  Facilitated  Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with voice evacuation systems experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the voice evacuation systems market growth and demand returning to pre-pandemic levels once the pandemic is over.

The voice evacuation systems witnessed significant growth over the past few years. The outbreak of the COVID-19 pandemic witnessed a sudden increase in demand for the product. Sudden growing natural disasters which boosted demand for evacuation systems in contaminated areas. Further, during cornavirus emergency, tracking employee movement and automatically counting who reached the designated gathering point boosted market growth. In addition, during the pandemic, to announce emergency services and safety, the product was broadly used. Government initiatives for safety are anticipated to drive market growth

However, the closure of the construction activities and real estate impacted the market growth for some time.

LATEST TRENDS

"Adoption of lot in Construction Industry or Activities to Develop Market Growth "

Traditionally, the voice evacuation systems have been handled independently without any support. However, today’s changes in technology to improve response, notification, reliability, and redundancy is anticipated to boost the adoption of loT. loT in voice evacuation enhances data and controls the system without any human intervention. Adoption of loT in system plays a crucial role in developing codes such as NFPA 72, which boosts the technological advances. Further, increasing demand for automated building solutions and home security is expected to propel market growth during the forecast period. Thus, safe evacuations is  one of the mandatory features in the upcoming residential and commercial buildings and is one of the major factors driving market growth. Increasing smart city industry and federal bodies to enhance precautions for the public transportation sector is also expected to boost market growth.

VOICE EVACUATION SYSTEMS MARKET SEGMENTATION

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• By Type

Based on type, the market is classified into voice sounders, loudspeakers, emergency microphones, and networked and wireless systems.

 Voice sounders is the leading part in the type segment.

• By Application

On the basis of application, the market is segmented into transportation, commercial building, and others.

Transportation is the leading part in the application. 

DRIVING FACTORS

"Construction Industries  and  Real Estate Incites System Demand"

Growing construction industries drive the need for voice evacuation systems for safety measures and automated buildings. increasing concerns among organizations and individuals to save or reduce losses during an emergency are anticipated to boost product demand. growing consumption of emergency alarms to gather people or announcements is expected to boost market growth. Further, increasing construction activities and expenditure in the residential sector in developed countries such as the U.S. are predicted to propel market growth.

"Government Initiatives & Regulation Support Industry Development"

The importance of voice evacuation systems is to manage emergency situations and incidents. Governments across the globe encourage the adoption of a system for its safety measures quality. Various industries, such as commercial, industrial, and residential, need the system for alarm and safety measures. Further, for emergency circumstances, need for robust and comprehensive management is a crucial factor in propelling market growth. Supportive industry standards and regulations to manage emergency situations and incidents are predicted to propel voice evacuation systems market demand. In addition, health and safety at work regulations creates lucrative opportunities for market growth during the forecast period. For instance, BS 5839, IEC standards, and British standards are some government regulations that are expected to push demand for such systems.

RESTRAINING FACTORS

The initial high cost is one of the factors which may hinder voice evacuation systems market growth. Further, maintenance costs such as upgrading control systems and retrofitting are expected to impact market growth negatively during the forecast period.

VOICE EVACUATION SYSTEMS MARKET REGIONAL INSIGHTS

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North America is expected to dominate the voice evacuation systems market share due to the high investments in the advancement of integrated building technologies. Further, increasing R&D activities long with technological developments are  expected to boost the market growth. In addition, government regulations for safety measures and growing adoption of alarm systems in public places. These factors are predicted to propel the growth of the voice evacuation systems market.

Asia Pacific is expected to witness significant growth during the forecast period due to the presence of market players  in countries such as China, India, and Japan is expected to drive the regional market.

KEY INDUSTRY PLAYERS

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Active Total Security Systems (India)
• ATEIS International SA (Switzerland)
• Audico Systems Oy (Finland)
• Baldwin Boxall Communications Ltd. (U.K.)
• Bosch Security Systems, Inc. (U.S.)
• C-TEC (Computionics) Ltd. (U.K.)
• Hallmark Fire Ltd. (U.K.)
• Honeywell Life Safety (U.S.)
• Eltek Fire & Safety by Honeywell (Norway)
• Gent by Honeywell (U.K.)
• Lucas Voice Alarm Ltd. (U.K.)
• OPTIMUS S.A (Spain)
• RCF S.p.A (Italy)
• Siemens Building Technologies (Switzerland)
• Tyco International Ltd. (Switzerland)
• WEAC Ltd. (U.K.)

INDUSTRIAL DEVELOPMENT

August 2021 – Vande Bharat train is a new fleet in India. It introduced a new intelligent emergency system as a means of safety measures for the evacuation of the public during an emergency.

March 2020 – Several government hospitals adopted digital and intelligent evacuation systems due to growing rate of patients during the COVID-19 pandemic.

REPORT COVERAGE

This research profiles a report with widespread studies that take into an explanation the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.