How Has The Computer Vision in Fire Testing Market Size Evolved In Recent Years?
The fire testing market has seen considerable growth due to a variety of factors.
• In recent times, the market size of fire testing has witnessed substantial growth. With a compound annual growth rate (CAGR) of 6.7%, the market will escalate from $7.6 billion in 2024 to $8.1 billion in 2025. The expansion during the historical period is due to strict regulatory standards, rising urbanization, growing international commerce, the booming construction sector, and past fire incidents.
How Does the Forecast Look for the Fire Testing Market?
The fire testing market is expected to maintain its strong growth trajectory in upcoming years.
• A robust increase in the market size of fire testing is expected in the upcoming years, anticipated to reach $10.72 billion in 2029 with a compound annual growth rate (CAGR) of 7.2%.
The projected growth in this period is attributed to factors such as renewable energy infrastructure, the proliferation of electric vehicles, aging infrastructure, sustainable construction, and the expansion of interconnected systems. Key trends anticipated during this forecast period consist of the integration of IoT, green fire testing, bespoke testing solutions, distance testing services, and sophisticated simulation technologies.
What Are The Essential Drivers Behind The Growth Of The Fire Testing Market?
The upsurge in the acceptance and implementation of the smart city concept is predicted to drive the fire testing market's expansion in the future. A smart city is defined as a city that harnesses the power of information and communication technology (ICT) to escalate productivity, enlighten citizens, and improve overall public amenities and welfare. Fire testing becomes a critical component in smart cities for foreseeing and promptly detecting fire and smoke, thereby significantly elevating public safety by reducing extensive damage. For example, an article published by National World PLC, a news publisher based in the UK, revealed in October 2022 that Saudi Arabia is developing a smart city named Neom, designed specifically to accommodate an international sports event, The Asian Winter Games 2029. Neom, the forthcoming Saudi smart city, is under construction in the Northwest's Tabuk Province with a projected investment of $500 billion (approximately £436 billion). It aims to integrate smart city technologies, serving as a sought-after tourist destination. The project, initially expected to see significant completion by 2020 and final expansion by 2025, due to unforeseen delays, may only see fruition by 2026. Hence, the growth in the adoption of the smart city concept serves as a catalyst for the fire testing market's upswing.
How Are The Segments Defined Within The Global Fire Testing Market?
The fire testing market covered in this report is segmented –
1) By Service: Testing, Inspection, Certification, Other Services
2) By Sourcing: In-house, Outsourced
3) By Application: Building And Construction, Automotive, Industrial And Manufacturing, Consumer Goods And Retail, Aerospace And Defense, Other applications
Subsegments:
1) By Testing: Fire Resistance Testing, Flammability Testing, Smoke And Toxicity Testing, Thermal Performance Testing
2) By Inspection: Site Inspections, System Inspections, Code Compliance Inspections
3) By Certification: Product Certification, System Certification, Quality Assurance Certification
4) By Other Services: Consulting Services, Training And Education, Risk Assessment Services
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How Are New Trends Expected To Influence The Growth Of The Fire Testing Market?
Leading entities within the fire safety industry are progressively concentrating on formulating progressive approaches, such as digital fire safety services, in order to amplify preemptive measures and response schemes concerning fires. Digital fire safety services encompass all-inclusive systems that employ technology and data analytics to supervise, evaluate, and augment fire safety procedures across numerous sectors. For example, Siemens, a company from Germany that is an expert in automation and digitalization, introduced its Fire Safety Digital Services in September 2022. These services take advantage of advanced technology to offer real-time surveillance and predictive analytics, enabling organizations to spot potential fire hazards ahead of time and fine-tune their safety implementations. Through the incorporation of digital solutions into fire safety methodologies, Siemens aims to aid the fire testing market by enhancing compliance, response speed, and ultimately protecting people and assets.
Who Are the Key Players in the Fire Testing Market?
Major companies operating in the fire testing market include:
• Bosch Security Systems Inc.
• Siemens AG
• United Technologies Corporation
• Honeywell International Inc.
• Johnson Controls International plc
• UTC Fire & Security
• SGS Group SA
• Bureau Veritas SA
• Intertek Group plc
• DEKRA SE
• DNV GL
• TÜV Rheinland
• Underwriters Laboratories Ltd.
• BRE Group Ltd.
• Kiwa NV
• Mistras Group Inc.
• The Element Materials Technology Group Ltd.
• Exponent Inc.
• VdS Schadenverhütung GmbH
• Applied Technical Services LLC
• Tyco Fire Products LP
• Kidde Technologies Inc.
• FM Approvals LLC
• Smithers Ltd.
• International Fire Consultants Limited
• RINA SpA
• Exova Group plc
What Is The Most Dominant Region In The Fire Testing Market?
Asia-Pacific was the largest region in the fire testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the fire testing market report forecast period. The regions covered in the fire testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
