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Smoke Detector Market By Technology Type (Ionization Smoke Detection Device, Photoelectric Smoke Detection Device, Dual Sensor Smoke Detection Device), By End-Use Vertical (Commercial, Residential, Industrial, Others) - Growth, Future Prospects, and Competitive Landscape, 2019 - 2027

An increasing number of residential and commercial mishaps and the popularity of smart homes across the globe drive the smoke detectors market.

The global smoke detector market is poised to reach US$ 3.01 Bn by 2027, expanding at a CAGR of 9.0% during the forecast period from 2019 to 2027. Increasing safety concerns for residential and commercial buildings and mounting penetration of smart homes are perpetually growing the Demand for smoke detectors. In addition, the integration of smoke detectors with digitization like IoT and AI are identified as the major factors driving Demand for smoke detectors worldwide. However, higher installation costs and replacement costs due to the transition from conventional to modern detectors are the major challenges faced by the smoke detector market globally. 

Market Synopsis

Increasing Demand from the Commercial and Residential buildings to Drive Growth Prospects

Strict government policies and regulations in developing economies mandate smoke detectors in commercial and residential infrastructures. Significant growth in global urbanization is expected to increase the Demand for smoke detectors from the sectors. Other key features affecting the growth of smoke detectors include government initiatives, increasing adoption of smart technology like smart homes, and security. In addition, the infrastructural developments such as entertainment buildings, hotels, educational institutions, and other commercial buildings, owing to the ability to provide fire protection, will drive the Demand for smoke detectors.

A growing number of construction activities has initiated the need for smoke detectors to be installed in commercial infrastructures such as office spaces, shopping malls, buses, metros, and recreational centers. In addition, in recent years, the U.K. has increased its fire services across the residential segment, which is expected to boost the smoke detector market.

North America to Dominate, the Asia Pacific to Witness Strong Growth

In recent years, North America has held around one-third of the smoke detector market due to advancements in technology. In addition, the increased strictness in government policies and mandates for fire safety regulation in the U.S. and Canada has increased the Demand for smoke detectors in this region. According to the National Fire Protection Association (NFPA), around 4% of homes in North America face death and mishaps due to the non-availability of smoke detectors. In order to minimize the risk of deaths in residential and commercial buildings, the government mandated the use of smoke detectors, which in turn will drive the Demand for smoke detectors across the region.

The Asia Pacific region is going to witness lucrative growth among emerging economies such as China, India, and Indonesia. The incorporation of digital technology such as IoT and AI is bound to fetch a massive change in both small and large-scale sectors in the Asia Pacific region. In addition, growing construction activities in residential, commercial, industrial, and civil engineering sectors have fuel up the need for smoke detectors.

Automating smoke detectors with IoT will automatically enable the user to use a text-to-speech system for any fire mishap, minimizing casualties, economic & physical losses, and operational activities. In addition, integrating AI with smoke detectors helps differentiate between combustion and non-combustion particles, which in turn reduces unwanted and false fire alarms with accurate detection.

Key Players & Competitive Landscape:

Some of the leading manufacturers profiled in the study include Kidde, Honeywell International Inc., Johnson Controls, BRK Brands, Inc., Siemens AG, ABB Group, Hochiki Corporation, Xtralis Pty Ltd., Robert Bosch LLC, and Huawei Technologies Co., Ltd.

Historical & Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027

Report Scope by Segments

The research study on the smoke detector market offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides an all-around view of the global smoke detector market based on its technology type, end-use, and geography. Key segments covered in the report are as follows.

Frequently asked questions :

The market for Smoke Detector Market is expected to reach US$ 3.01 Bn by 2027.

The Smoke Detector Market is expected to see significant CAGR growth over the coming years, at 9.0%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Competitive Dashboard are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Oct 2019
Category:  Energy
Report ID:   59981
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
Delivery Time: 24 Hours to 48 Hours   
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