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Smart Smoke Detector Market Growth Rate, Business Strategy, Key Trends and Revenue Analysis 2023
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The Global Smart Smoke Detector Market was valued at USD 971 million in 2017 and is expected to reach USD 1,533 million by the end of forecast period with a CAGR of 8.2%. The global market for smart smoke detector is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of smart smoke detector market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America.
The demand for smart smoke detectors has risen owing to concerns regarding fire safety and increased adoption of smart devices. A smart smoke detector system consists of four components namely sensors, processing unit, communication system, and alarm system. The sensors monitor the air in environment and detect for smoke particles which are prone to cause hazardous situation. The information obtained by these sensors is then analyzed and checked for any mishap that might take place in a period of time. This information is sent to user’s device such as smartphone or tablet through wireless connections using communication platform such as Wi-Fi, Bluetooth, ZigBee, and Z-Wave, among others. In case of fire or smoke, the alarm in the detector triggers and notifications are sent to all the connected devices.
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With the advent of artificial intelligence and internet of things (IoT) in the development of smart devices, the market for smart smoke detector has become lucrative for manufacturers to integrate these technologies in smoke detectors, encouraging them develop new products in smoke detector. The major factor attributing to the growth of smart smoke detector market includes growing number of fatal injuries in commercial buildings and industrial premises. Moreover, customers inclination towards smart buildings is fueling the market growth. However, high costs incurred in the deployment of smart smoke sensors might hamper the growth of smart smoke detector market. The market seeks opportunities owing to adoption of IoT and connected technologies by the customers.
The key players in the smart smoke detector market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Nest Labs (US), Samsung Electronics Co. Ltd (South Korea), Roost Inc. (US), Huawei Technologies Co. Ltd (China), BRK Brands Inc. (US), Honeywell International Inc. (US), AMP Security (US), United Technologies Corporation (US), Birdi (US), and Leeo Inc. (US). These players contribute a majorly in the growth of smart smoke detector market.
Apart from the top key players, there are other players that contribute to the market growth. These include Netatmo (France), Elgato (Germany), Universal Security Instruments Inc. (US), Gentex Corporation (US), UIC Corporation (US), Hanwei Electronics Group Corporation (China), Xtralis Pty Ltd (Ireland), Erlab (US), Lowe's Companies Inc.(US), The Crow Group (Israel), Nietzsche Enterprise Co. Ltd (Taiwan), Full Enterprise Corp. (Taiwan), Heiman Co. Limited (China), and others.
By type, the market is segmented into network ionization detectors, photoelectric detectors, dual sensor detectors (CO and CO2), aspirating smoke detector (ASD), and laser smoke detector (LSD).
By service, the market is segmented into testing & inspection services, installation services, and maintenance & replacement services.
By power source, the market is bifurcated into hard-wired and battery-powered smoke detectors.
By connectivity, the market is segmented into Wi-Fi, Bluetooth, ZigBee, and others.
By end-user, the market is segmented into residential, industrial, and commercial.
North America dominated the smart smoke detector market owing to increased instances of fire hazards in the US. Moreover, the region has a developed infrastructure and with the advancements in Internet of Things, the demand for smart devices in premises has been observed.
Europe is the second dominating region in the smart smoke detector market. Although Europe is technically advanced and well-established region, the residents are unlikely to switch to smart solutions and thus, refrain the market growth in European region. On the contrary, the region of Asia-Pacific is expected to witness a highest growth rate during the forecast period. China, India, Japan, Singapore, South Korea, are some major countries in Asia-Pacific which are investing heavily in developing smart cities in their respective territory which is also fueling the adoption of smart smoke detectors by the end-consumers.
We have covered Middle East & Africa and Latin America to analyze the smart smoke detectors market in rest of the world. UAE in Middle East is expected to contribute highest in generating market value for the market in the region as UAE among all countries in the region is investing heavily in transforming their traditional infrastructure into a smart one. This also supports them to attract more visitors to their place. On the other hand, Latin America is expected to grow with steady growth rate during forecast period.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
LIST OF TABLES
Table 1 Smart Smoke Detector Market, By Region, 2018–2023
Table 2 North America: Smart Smoke Detector Market, By Country, 2018–2023
Table 3 Europe: Smart Smoke Detector Market, By Country, 2018–2023
Table 4 Asia-Pacific: Smart Smoke Detector Market, By Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Smart Smoke Detector Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Smart Smoke Detector Market
FIGURE 4 Value Chain Of Global Smart Smoke Detector Market
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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