Public Address and Voice Alarm Systems Market Opportunities and Strategies to 2033

This report describes and explains the public address and voice alarm systems market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global public address and voice alarm systems market reached a value of nearly $3.72 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.8% since 2018. The market is expected to grow from $3.72 billion in 2023 to $5.34 billion in 2028 at a rate of 7.5%. The market is then expected to grow at a CAGR of 8% from 2028 and reach $7.85 billion in 2033.

Growth in the historic period resulted from the increasing incidence of fire and workplace accidents, increasing smart city projects around the globe, rising number of educational institutions, increasing safety and security concerns and rising government initiatives. Factors that negatively affected growth in the historic period include high initial costs.

Going forward, the rising investments in infrastructure development projects, growing hospitality industry, increasing construction of commercial buildings, increasing industrialization and strong economic growth in emerging markets will drive the market. Factors that could hinder the growth of the public address and voice alarm systems market in the future include supply chain disruptions.

The public address and voice alarm systems market is segmented by type into centralized and distributed. The centralized market was the largest segment of the public address and voice alarm systems market segmented by type, accounting for 70.6% or $2.62 billion of the total in 2023. Going forward, the distributed segment is expected to be the fastest growing segment in the public address and voice alarm systems market segmented by type, at a CAGR of 8.4% during 2023-2028.

The public address and voice alarm systems market is segmented by component into loudspeaker, controller, amplifier, microphone and other components. The loudspeaker market was the largest segment of the public address and voice alarm systems market segmented by component, accounting for 32% or $1.19 billion of the total in 2023. Going forward, the controllers segment is expected to be the fastest growing segment in the public address and voice alarm systems market segmented by component, at a CAGR of 8.7% during 2023-2028.

The public address and voice alarm systems market is segmented by technology into digital system, analog system and internet protocol (IP) system. The digital system market was the largest segment of the public address and voice alarm systems market segmented by technology, accounting for 59.4% or $2.21 billion of the total in 2023. Going forward, the internet protocol (IP) system segment is expected to be the fastest growing segment in the public address and voice alarm systems market segmented by technology, at a CAGR of 10.4% during 2023-2028.

The public address and voice alarm systems market is segmented by application into industrial, commercial, hospitality, transportation and other applications. The industrial market was the largest segment of the public address and voice alarm systems market segmented by application, accounting for 31.7% or $1.17 billion of the total in 2023. Going forward, the commercial segment is expected to be the fastest growing segment in the public address and voice alarm systems market segmented by application, at a CAGR of 8.8% during 2023-2028.

North America was the largest region in the public address and voice alarm systems market, accounting for 33.3% or $1.24 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the public address and voice alarm systems market will be Asia-Pacific and Africa, where growth will be at CAGRs of 9.7% and 8.9% respectively. These will be followed by South America and the Middle East, where the markets are expected to grow at CAGRs of 8.5% and 7.9% respectively.

The global public address and voice alarm systems market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 12.14% of the total market in 2023. Johnson Controls International plc was the largest competitor with a 3.48% share of the market, followed by Siemens AG with 1.74%, Honeywell International Inc with 1.57%, Bosch Security Systems GmbH (Robert Bosch GmbH) with 1.37%, Atlas Sound and Innovative Electronic Designs (IED) with 1.13%, TOA Electronics Europe GmbH with 0.91%, Axis Communications AB with 0.83%, AFA Protective Systems Inc with 0.57%, The Zenitel Group with 0.33% and Valcom Inc with 0.21%.

The top opportunities in the public address and voice alarm systems market segmented by type will arise in the centralized segment, which will gain $1.08 billion of global annual sales by 2028. The top opportunities in the public address and voice alarm systems market segmented by component will arise in the loudspeaker segment, which will gain $546.3 million of global annual sales by 2028. The top opportunities in the public address and voice alarm systems market segmented by technology will arise in the digital system segment, which will gain $991.2 million of global annual sales by 2028. The top opportunities in the public address and voice alarm systems market segmented by application will arise in the commercial segment, which will gain $478.7 million of global annual sales by 2028. The public address and voice alarm systems market size will gain the most in the USA at $352.6 million.

Market-trend-based strategies for the public address and voice alarm systems market include focus on innovations in wall-mounted PAVA systems to enhance installation efficiency and scalability and strategic partnerships and collaborations among major players.

Player-adopted strategies in the public address and voice alarm systems market include focus on strengthening operational capabilities through the launch of new product offerings and focus on strengthening business operations through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the public address and voice alarm systems companies to focus on innovating wall-mounted solutions, focus on the distributed segment for growth, focus on the controllers segment for growth, focus on internet protocol system segment, focus on strategic partnerships for market expansion, expand in emerging markets, provide competitively priced offerings, focus on digital marketing channels, focus on thought leadership and industry events, continue to use B2B promotions and focus on commercial application segment expansion.