Global Smoke Detector Market Report (2022 to 2027) - Players Include Oculus VR, HTC, AUKEY and Sony Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Smoke Detector Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.

The global smoke detector market is evaluated at US$1.744 billion for the year 2020 and is expected to grow at a CAGR of 8.33% to reach a market size of US$3.054 billion by the year 2027.

Smoke detectors are a specific type of device used to detect the presence of smoke or fire in buildings and factories. Smoke detectors are efficiently used for industrial and domestic purposes. Smoke detectors or smoke alarms can efficiently detect and prevent certain hazardous fire accidents that take place in residential and non-residential buildings. Smoke detectors are designed in a way that they are efficiently placed on walls or roofs that smoke is rising upward as fire is happening. The smoke detectors with an alarm system placed on rooftops and walls can efficiently identify smoke and produce an alarm to escape fire accidents.

Fire accidents are one of the major frequently occurring and hazardous accidents that are taking place in factories and industrial buildings. The severe accidents in industries and production plants resulting in severe injuries and heavy financial loss are mainly due to the fire accidents occurring in industries and factories.

The recent outbreak of the COVID pandemic has severely affected the market growth of smoke detectors in the global market. The COVID pandemic had a negative impact on the market for smoke detectors. The widespread COVID-19 resulted in the imposition of lockdowns and isolations by certain governments. The lockdown and isolation actions taken out by governments of various countries resulted in the shutdown of factories and production plants.

The shutdown of factories declined the demand for smoke detectors, as factories were not properly working due to the lockdowns. The shutdown of production plants that are manufacturing electronic and safety devices like smoke detectors also resulted in the stoppage of production, making a vast declination in the smoke detectors market. The tampered supply chain sector of electronic and safety devices also resulted in the downfall of the smoke detectors market in the global market.

The increasing rate of fire accidents

Fire accident is one of the major accidents that cause substantial financial loss and injuries to workers in factories. The rate of fire accidents also increases along with more industrialization and developments. According to the data of UNDRR (United Nations Office for Disaster Risk Reduction), approximately 37000 fire incidents are occurring in every year on industries and industrial premises all over the world. Unite states is recorded as one of the countries with the highest number of fire accidents.

The increasing number of fire accidents is boosting the need and demand for effective industrial safety devices and smoke detectors. The reports of the San Francisco administration state that about 4000 people have lost life due to fire accidents in industries and residential areas. The development and up-gradation of smoke detectors and fire safety measures have increased the wide acceptance of smoke detectors. The simple and more efficient smoke detectors with more tech support also increased the installation of smoke detectors in the home and for small domestic workplaces. The reduced risk of financial loss in industries by employing proper alarm systems and smoke detectors also boosted the demand for smoke detectors in the global market.

Support from the government for fire safety

The high support of governmental bodies in providing safety measures and ensuring safe working conditions in factories are boosting the demand for smoke detectors in the global market. The increasing number of fire accidents in industries, residential and non-residential areas has made the government in making more rules and regulations for ensuring proper safety.

The mandatory rules and regulations by governments in the industrial sector are making the companies in providing more worker safety and fire protection systems in industries. The international code for the working of factories and industries is also demanding more safe and secure regulations and safety systems for production plants and industries. The mandatory regulations of the international government to avoid fire accidents and ensure more safety are driving the market growth of smoke detectors.

Market Segmentation

By Installation Type

• Hardwired Smoke Detectors
• Battery- operated Smoke detectors

By Product Type

• Ionization Smoke Detectors
• Photoelectric Smoke Detectors
• Dual Sensor Smoke detectors
• Others

By End-User

• Commercial
• Manufacturing
• Residential
• Automotive
• Telecommunications
• Mining
• Oil, Gas, and Mining
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• UK
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Mentioned

• Varjo
• Osgenic
• Adverty
• Pikseli Arcade
• MeetinVR
• Oculus VR, LLC
• HTC Corporation
• AUKEY
• Sony Corporation
• Samsung

For more information about this report visit https://www.researchandmarkets.com/r/phcj81