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%.
— Smart Smoke Detectors Market Overview:
Smart smoke detectors are finding it easy to enter the market as these could easily satisfy many of the prominent security concerns with relative ease. The global smart smoke detectors market is all set to gain substantial ground with 8.2% CAGR during the forecast period (2018-2023) and cross a valuation of USD 1,533 million by the end of 2023. Market Research Future (MRFR) in their report claims that this integration of the smart smoke detectors into construction sector is expected to be easy as several factors would inspire its inclusion.
Factors such as the introduction of artificial intelligence and IoT, high intake in construction sector, customer inclination towards safety, technological superiority, and others are expected to provide tailwind to the market. But high costs incurred during the installation could be a possible dampening factor for the global market.
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Smoke Detectors Market Competitive Landscape:
The global smart smoke detector market is all set to get influenced by several companies like Roost Inc. (US), Nest Labs (US), Samsung Electronics Co. Ltd (South Korea), Honeywell International Inc. (US), Huawei Technologies Co. Ltd (China), BRK Brands Inc. (US), Leeo Inc. (US), AMP Security (US), United Technologies Corporation (US), Birdi (US), Netatmo (France), Gentex Corporation (US), Elgato (Germany), Universal Security Instruments Inc. (US), Hanwei Electronics Group Corporation (China), UIC Corporation (US), Lowe's Companies Inc.(US), Xtralis Pty Ltd (Ireland), Erlab (US), Full Enterprise Corp. (Taiwan), The Crow Group (Israel), Heiman Co. Limited (China), Nietzsche Enterprise Co. Ltd (Taiwan), and others. MRFR in their analysis measured the impacts these companies are having on the global market by enlisting their latest strategic moves.
Smoke Detectors Market Segmentation:
The global smart smoke detector market has been segmented by MRFR into type, service, power source, end-user, and connectivity. The analysis aims at having substantial peek into the market before predicting the future outcome in the coming years.
Based on the type, the smart some detector market comprises aspirating smoke detector (ASD), network ionization detectors, dual sensor detectors (CO and CO2), photoelectric detectors, and laser smoke detector (LSD).
Based on the service, the smart some detector market consists installation services, testing & inspection services, and maintenance & replacement services. Post-installation, regular maintenance & replacement services to ensure better safety would give rise to the revenue generation.
Based on the power source, the smart some detector market includes hard-wired and battery-powered smoke detectors.
Based on the connectivity, the smart some detector market can be segmented into Wi-Fi, Bluetooth, ZigBee, and others. The wi-fi segment has significant market reach which is impacting the market growth.
Based on the end-user, the smart some detector market includes residential, industrial, and commercial. The growth in residential segment construction and demand for better security facilities have given rise to the residential segment.
In may 2019, Georgia Power announced that it has teamed up with Vivint to extend their smart home offerings to their customers. This is to introduce the latest security system by integrating automation into their projects. This would include smart filters, vents, lighting, door locks, light switches, smoke alarms and doorbells.
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Smoke Detectors Market Regional Analysis:
North America, Europe, Asia-Pacific (APAC), and the Rest-of-the-World (RoW) are the four major regions that have been included in the global smart smoke detector market report made by MRFR. This report aims at having a significant impact on the analysis of the global growth zones that can inspire prospect for the market.
North America, with its sound technology and burgeoning construction industry, is dominating the sector and will continue to do so during the forecast period. The easy integration of IoT in residential sector is further improving the market possibilities. Europe is the second largest market in terms of revenues, whereas, the APAC is anticipated to clock the fastest growth rate during the forecast period. With countries like China, Japan, Singapore, India, and South Korea, the region would gain much mileage in smart home technologies which would subsequently, influence smart smoke detector market growth.
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