LONDON--(BUSINESS WIRE)--The residential smoke detector market size is expected to grow by USD 528.61 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
The integration of technological advances in smoke detectors is a major driver in the market. Some of the technological advances that are introduced in smoke detectors include a maintenance-needed indication, individual smoke detector sensitivity adjustment, and drift compensation. These technological advances aims at reducing nuisance alarms and increasing the rate of detecting actual fires. One of the major areas of technological improvement, which significantly impacts the adoption of smoke detectors, is the advanced signal analysis through software. The technology will reduce the number of nuisance alarms, which was one of the major reasons behind the deactivation of smoke detectors by house owners.
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As per Technavio, the increase in the availability of smoke detectors with high sensitivity will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Residential Smoke Detector Market: Increase in the Availability of Smoke Detectors with High Sensitivity
The vendors in the market are developing innovative smoke detectors that are expect to trend in the market during the forecast period. High sensitivity smoke detectors provide appropriate early warnings that prompt investigation. This can initiate action to control the onset of fire before serious damage is caused. For instance, Honeywell International offers VIEW Intelligent High Sensitivity Smoke Detector uses special lens, extremely bright laser diode, and mirror optics to achieve one hundred times more sensitivity than standard photoelectric technology. The performance of the detector would remain constant regardless of the variation in the background particle level. This system is also responsive to genuine fire situations. It uses the technique of laser-based forward light scatter mass detection. This technology is expected to contribute significantly to increasing the revenue of the global residential smoke detector market.
“Factors such as the availability of modified smoke detectors and smart smoke detectors, and the increasing number of government policies mandating the installation of smoke detectors in the residential sector will have a significant impact on the growth of the residential smoke detector market value during the forecast period,” says a senior analyst at Technavio.
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Residential Smoke Detector Market: Segmentation Analysis
This market research report segments the residential smoke detector market by type (photoelectric, dual-sensors, Ionization, and others) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the residential smoke detector market share in 2019, followed by APAC, Europe, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the regulations set by the NFPA and other regulatory authorities that mandate the use of smoke detectors in all buildings.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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