The demand for fire safety services is expected to increase as the world continues to become more urban and industrialized. Increased attention on workplace safety and strict regulatory requirements contribute to that demand, and to the growth of the fire safety industry as a whole—with an accompanying surge in jobs as it also drives innovation in technology.
A recent market study predicts growth of the fire safety services market share at a compound annual growth rate of 4.6%, reaching $19.1 million by 2033. But the market has already been in growth mode in recent years, due in part to rising numbers of construction projects. Existing buildings and those under construction require fire protection engineering and design, as well as installation and maintenance of fire suppression systems and alarm systems.
Development of new fire safety technologies and the need for maintaining current fire safety equipment contribute to the market’s growth.
Typical fire safety services include fire risk assessment, training, equipment installation and maintenance and emergency planning. Assessment is crucial in the identification of potential fire hazards. Fire safety equipment installation includes installing fire alarms, fire extinguishers, sprinklers and other fire suppression systems.
The need for services is constant and is sometimes imposed by regulatory requirement. The Occupational Safety and Health Administration mandates employers provide a safe work environment, and is thus one of the major factors advocating fire safety, with standards for recordkeeping, general industry, maritime and construction. Demand for fire safety services is also influenced by the size of the community, the number of previous fire incidents and the level of awareness of fire safety.
Historically, the fire safety services market has been diverse, competitive and fragmented. In addition to the heavyweights, smaller regional and local providers also offer services—sometimes in niche market segments, including fire safety consulting. The industry may be changing, as the adoption of digital technology, including IoT-enabled fire safety systems and cloud-based fire safety management software, creates new jobs and opens up the market to new companies with expertise and experience in digital technology and data analytics.
About The Author
Lori Lovely is an award-winning writer and editor in central Indiana. She writes on technical topics, heavy equipment, automotive, motorsports, energy, water and wastewater, animals, real estate, home improvement, gardening and more. Reach her at: [email protected]