Fact.MR, a market research and consulting firm, predicts the sales of the fire protection systems will exceed $138 billion in the forecast period 2022-2032. The research firm says this is due to increasing urbanization and the changing designs of commercial infrastructure. Demand for fire protection systems has thus increased.
The onset of the COVID-19 pandemic affected the supply and demand chain across the globe. As most of the commercial sectors were shut, the demand for fire protection systems dipped in the initial quarter of the pandemic. As most commercial sectors are fully functioning, the sales of fire protection systems are expected to upsurge.