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Fire Safety Companies Expand Service Offerings to Disrupt the Future of the Industry Finds Frost & Sullivan - New safety standards propel the demand for fire safety services such as testing, inspection and consulting, finds Frost & Sullivan - Frost.com
Fire Safety Companies Expand Service Offerings to Disrupt the Future of the Industry Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mountain View, CA, United States, 2016/03/10 - New safety standards propel the demand for fire safety services such as testing, inspection and consulting, finds Frost & Sullivan - Frost.com.

   
 
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With more than 40 percent of total fire safety services outsourced to third-party testing companies, service providers are showing urgency in expanding their service portfolios. The thermal imaging camera (TIC) market, for instance, is rapidly developing into a one-stop shop for all fire safety service requirements. Scalability and economies of scale will help augment the revenues of top TIC participants that deliver end-to-end services.

Recent analysis from Frost & Sullivan, Analysis of the Global Fire Safety Services Market, finds that the market earned revenues of $15.70 billion in 2015 and estimates this to reach $23.20 billion in 2020. The study covers the fire safety service segments of testing, inspection, certification, consulting and training. Developed economies are expected to dominate the demand over the forecast period, and fire safety consulting services generate the highest revenue.

“Leading TIC companies are enhancing their brand value by developing a complete breadth of testing, inspection and certification services for material testing, condition monitoring, metrology and non-destructive testing,” said Frost & Sullivan Measurement & Instrumentation Research Analyst Aravind Govindan. “They are also leveraging their global presence and brand image to sign strategic merger and acquisition deals to widen their market presence.”

In addition to end users’ desire to outsource non-core activities, the global fire safety testing sector has received impetus from new safety regulations, with Europe leading the way. In 2011, Europe’s Construction Products Directive was replaced by the Construction Products Regulation, which does not allow any member state to opt out of the mandatory CE marking. Consequently, construction products then fall within the realm of the regulation cannot be sold in the European Union without obtaining the CE mark. These products can include fire door sets and associated ironmongery, fire resisting ducts and dampers.

Although Europe and North America are large markets, the drop in manufacturing levels in these regions and the simultaneous rise of Asia-Pacific as a manufacturing hub is expected to alter market dynamics. Massive infrastructure investments in Asia-Pacific over the last decade, especially in its emerging markets, have created a fertile environment for fire safety service providers to thrive. In 2015, China, Japan, India and South Korea accounted for 91.9 percent of the total fire safety services market in the region.

“Regional fire safety companies, especially those that offer just one or two services, typically have low margins. Lower operational costs and proximity to clients will help these companies be more cost-effective,” noted Govindan. “In effect, participants with diversified services, scalability and global presence will have a competitive edge over their peers.”

Analysis of the Global Fire Safety Services Market is part of the Test & Measurement Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Network Recording Market, Global Centralized Radio Access Network (C-RAN) Testing and Monitoring Market, Global Mass Spectrometry Market, Adapting to the Future of Dimensional Metrology: Evaluating the potential for CT systems, and 2025 Vision for the Global Test and Measurement Industry. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Analysis of the Global Fire Safety Services Market / NDC6-30

 
 
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Fire Safety Companies Expand Service Offerings to Disrupt the Future of the Industry Finds Frost & Sullivan

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