Smoke Detectors Market To Witness The Highest Growth Globally In Coming Years

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The global smoke detectors market was worth $10.09 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 5.32% and reach $12.41 billion by 2023.The smoke detectors market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the smoke detectors market in 2019.

The Key drivers of the smoke detectors market include:-
The increased number of fire incidents in commercial as well as in residential places is driving the growth of smoke detectors market. The use of synthetic building materials and variety of plastics, synthetic textiles in furnishing of commercial and residential buildings has made them vulnerable to fire accidents. Fire accidents leads to severe life and property losses.

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The global smoke detectors market is segmented:
1) By Product: Photoelectric Smoke Detector, Ionization Smoke Detector, Dual Sensor Smoke Detector, Others
2) By Power Source: Battery Powered, Hardwired With Battery Backup, Hardwired Without Battery Backup
3) By End User: Residential, Commercial, Oil, Gas & Mining, Transportation & Logistics , Telecommunications Manufacturing, Others

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By Geography - The smoke detectors market is segmented in to
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the smoke detectors market are
1. Honeywell International Inc
2. Tyco
3. Siemens AG
4. Schneider Electric
5. ABB Group.

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