News — Fire Alarm Panels

Fire alarm systems are designed to ensure safety in residential and commercial buildings. The effectiveness of these systems in safeguarding lives and properties is the significant reason behind their rise in market demand. According to a survey report by Future Market Insights, the fire alarm systems market size has been valued at USD 24.1 billion in 2023. It is expected to grow by a CAGR of 5.3% and hit USD 40.6 billion by 2033.  The two most common yet effective fire alarm panels contributing to this value are - addressable and conventional systems. Though they play distinct roles in fire...