LONDON--(BUSINESS WIRE)--The global residential and commercial swimming pool alarms market is expected to post a CAGR of over 7% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is increased technological innovation and product line extension leading to product premiumization. Vendors operating in the global market focus on introducing innovative and technologically advanced products, in terms of features such as design, build quality, smart connectivity, and others. Despite the higher cost, consumers prefer swimming pool alarms that have features such as smart monitoring, mobile app-based notification, and self-feeding mechanism. Consumers prefer these innovative products because these are easy to handle and operate and provide precise and accurate monitoring. These enhanced features and product innovations lead to product premiumization, which helps manufacturers achieve better customer engagement and enhance their profit margins. Therefore, the market is expected to register a positive outlook during the forecast period.
This market research report on the global residential and commercial swimming pool alarms market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio highlights the advancement in sensing technology as one of the key emerging trends in the global residential and commercial swimming pool alarms market:
Global residential and commercial swimming pool alarms market: Advancement in sensing technology
The increasing safety awareness and swimming pool safety laws have propelled the demand for swimming pool alarms across the globe. This increased demand has led to huge product innovation and introduction of multiple swimming pool alarm technologies such as infrared motion detectors, floating security devices, motion-activated cameras, gate alarms, personal immersion alarms, perimeter alarms, and sonar alarms. These alarms have distinct features and functioning based on their operating technology. The increased advancement has led to increased accuracy and precision of swimming pool alarms. This has further led to a rise in the adoption of residential and commercial swimming pool alarms across the globe.
“Growing awareness about the benefits of healthy living among the global population is another factor that is propelling the demand for fitness activities such as swimming. This has raised the demand for swimming pools as well as accessories such as swimming pool alarms as these products alert the users about any unauthorized access to their swimming pool areas and help prevent accidental drowning,” says a senior analyst at Technavio for research on consumer electronics.
Global residential and commercial swimming pool alarms market: Segmentation analysis
This market research report segments the global residential and commercial swimming pool alarms market by end-user (residential and commercial), by product (surface wave sensors, sub-surface disturbance sensors, pool gate and door alarms, wristbands) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share close to 59% of the market share, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth followed by the EMEA region.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
