Smoke Detector Market Is Booming Worldwide | Top key Players Like Ceasefire Industries Pvt. Ltd, Honeywell International, Hochiki Corporation, Nest labs, Siemens AG, Johnson Control, Robert Bosch

According to a new report published by Allied Market Research, titled, "Smoke Detector Market by Installation Type, Product Type, and EndUser: Opportunity Analysis and Industry Forecast, 2020-2027,"

The global Smoke Detector Market size is expected to reach $3,405.7 million in 2027, from $1,807.0 million in 2019, growing at a CAGR of 8.3% from 2020 to 2027. In 2019, North America dominated the market, in terms of revenue, accounting for over 36.6% share of the global Smoke Detector Market size.

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Based on installation type, the hardwired segment accounted for the largest market share with more than half of the total share in 2019, and is projected to continue to maintain its dominance during the forecast period. However, the battery-powered segment would portray the highest growth rate with a CAGR of 9.2% from 2020 to 2027.

Based on region, North America accounted for the largest share, contributing to more than one-third of the global smoke detector market share in 2018, and is expected to maintain its highest share throughout the forecast period. However, Europe is estimated to grow at the fastest CAGR of 9.5% from 2020 to 2027. The research also analyzes the regions including Asia-Pacific and LAMEA.

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The global Smoke Detector Marketanalysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study
o By installation type, the hard wired segment dominated the global Smoke Detector Market share in 2019, in terms of revenue.
o By product type, the photoelectric segment accounted for maximum share of the smoke detector industry in 2019.
o By region, North America is projected to be one of the most dominant regions and Europe is expected to witness a high growth rate during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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