Global Smoke Detector Market – Growth Trends and Opportunity Report
The latest report on “Global Smoke Detector Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” studies the market by power source, products, services, end user industries and by geography. The report provides a descriptive analysis about the current and future market opportunities in the industry.
A smoke detector is a sensor device used in fire alarm systems. It senses smoke and sends a message to the control panel indicating the possibility of a fire, thus providing security to both residential and commercial buildings. Increasing government initiatives towards the installation of a large number of smoke detectors in the residential sector along with the growing technological advancements are some of the major growth drivers, which are expected to fuel the smoke detector market
demand in the near future. Additionally, rising number of fire-mishaps & deaths coupled with the loss of properties has made manufacturers increase fire-related spending, which is further leading to the growth of this industry. However, the high installation cost of the smoke detector is one of the major challenges, which may hamper market growth in the near future.
Rising installation of smoke detectors into smart home projects along with increasing integration with Internet of Things (IoT) is anticipated to open new market avenues for smart detectors over the forecast period. Increasing population and urbanization has resulted in growing demand for better infrastructure amenities, which in turn will further boost the market demand for the product over the coming years. Growing residential and commercial infrastructure spending along with the development of various educational & healthcare centers have led to the demand for better fire-security system, driving the growth of the detector market further.
The global smoke detector market has been segmented based on power source into battery powered, hardwired with battery backup, and hardwired without battery backup. The hardwired with battery backup is one of the leading power source segments and is projected to grow at a significant rate over the forecast period owing to the growing demand for power back-up facility without the need for battery replacement & cleaning process. The smoke detector market is further segmented by product into the photoelectric smoke detector, ionization smoke detector, dual sensor smoke detector, and others. Photoelectric detectors are one of the growing segments and are expected to grow at a considerable rate in the near future on account of its eco-friendly nature (free from radioactive materials) and better accuracy in the alarming system. The smoke detector market has been further segmented based on services and end-user into various segments. The residential sector is one of the upcoming markets for the smoke detector and is expected to grow at a substantial rate over the forecast period due to rising popularity of IoT integrated smoke detector technology coupled with the growing residential sector across the globe.
North America is one of the major markets for the smoke detector and is expected to witness a considerable growth over the coming years owing to rising installation in smart homes and rising market maturity for the product. The European market is expected to witness a substantial growth over the forecast period on account of the introduction of new government regulations for incorporation of smoke detector in every home to avoid fatalities by a home fire. Asia Pacific is one of the fastest growing markets for the smoke detector and is projected to witness the highest growth in the near future owing to increasing infrastructure along with the growing urbanization in the region, particularly in China and India.
The major industry players include Hochiki Corporation, Honeywell International Inc., Johnson Controls Inc., Robert Bosch GmbH, Siemens AG, Tyco, United Technologies Corporation (UTC), NEC Corporation, Nest Labs, and Schneider Electric.
In Feb 2016, Honeywell International Inc. acquired Xtralis, a leading early fire detection technologies manufacturer, to expand their Security and Fire business.
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