A Frost & Sullivan analysis has found the growth of the construction sector in developing countries in Asia and the Middle East has given a boost to the voice alarm systems (VAS) market, the company said.
New buildings are proving lucrative end-user segments as they have codes that mandate VAS installation; existing buildings requiring retrofits, and are harder to penetrate as they lack VAS standards. Manufacturers and value chain partners are acknowledging this issue by lobbying to include VAS installation in building codes.
Frost & Sullivan finds that the market earned revenues of USD584.1 million in 2015 and estimates this to reach USD933.7 million in 2019.
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