DUBLIN--(BUSINESS WIRE)--The "Smart Smoke Detector Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global smart smoke detector market is expected to reach more than $2 billion by 2024, growing at a CAGR of over 12% during 2018-2024.
The surge in demand for photoelectric and hardwired with battery detectors will drive the global market during the forecast period. The increasing need for fire safety devices is influencing the adoption of smart smoke detecting systems in the commercial sector. Constant product enhancements and the launch of new features are the keys to achieve high sales growth in the global market.
Smart Smoke Detector Market - Dynamics
Market Growth Enablers
- Rapid Developments in Industrial and Commercial Sectors
- Increasing Vulnerability of Modern Houses
- Rapid Growth of Smart Homes
- Reduced Maintenance to Drive Demand
- Increased False Detection Due to Environmental Factors
- Ban on Ionization Smoke Detectors
- IoT Set to Trigger Demand
- Rise of CO Smoke Detectors
- Evolution of CPS to Improve Effectiveness of Fire Fighting
Smart Smoke Detector Market - Segmentation
The report includes a detailed segmentation of the market by products, end-users, applications, and geography.
The global smart smoke detector market by product type is segmented into photoelectric detectors, ionization detectors, and others. The photoelectric segment dominated the global market, occupying approximately 80% revenue in 2018. With changing technological trends, vendors are facing the challenge of selecting an apt sensor for their next generation smart detectors. Hence, the high efficiency of photoelectric sensors makes an optimal choice. Thus, vendors are continuously offering smart and advanced products.
The smart smoke detector market by end-user is classified into commercial, industrial, residential, educational institutions, and government. The commercial sector dominated the global market and is likely to grow at a CAGR of over 12% by 2024. The sector is the highest adopter of smoke detecting devices due to the stringent compliance of fire safety norms laid down by regulatory bodies.
The use of smoke detecting devices in industrial sectors such as oil and gas, manufacturing, plants, and powerhouses will further boost the growth of these devices in the industrial sector. The residential end-user segment is likely to witness rapid and considerable growth in CAGRs during the forecast period due to the rise in home automation and the implementation of stringent fire safety regulations.
Key Vendor Analysis
The smart smoke detector market has highly diversified as each geography has its own competitive dynamics. The North American market can be termed as the most competitive market due to high product reach, increasing market demand, and the presence of several players. The US is the most lucrative market in North America due to the growing adoption of photoelectric and dual smoke detector solutions.
Major Vendors in the Market:
- Nest Labs
- Samsung Electronics
- Roost
- Huawei
- BRK Brands
- Honeywell International
- AMP Security
- United Technologies
- Birdi
- Leeo
- Johnson Controls
- Netatmo
- Bosch
- Telus
- Vivint
- Alder
- ADT
- Knig
- Xfinity(Comcast)
- Yale
- AS Valnes
- Eve Systems
For more information about this report visit https://www.researchandmarkets.com/r/2y5c45
