Smart Smoke Detector Market to Touch USD 1,533 Million at 8.2% CAGR by 2023 | Rising Adoption of Smart Devices to Positively Impact Smart Smoke Detector Market Growth

Market Analysis
The smart smoke detector market will touch USD 1,533 million at an 8.2% CAGR between the forecast period 2017- 2023, states the recent Market Research Future (MRFR) analysis. A smart smoke detector, simply put, has four compartments- alarm system, communication system, processing unit, and sensors. The sensor helps to monitor the air in the environment and also detect smoke particles that can cause hazardous situations through the smart smoke alarm. These security systems have wide commercial, industrial, and residential applications.

Various factors are propelling the global smart smoke detector market share. According to the recent MRFR market estimates, such factors include growing concerns about fire safety, rising adoption of smart devices, increase in fatal injuries in industrial premises and commercial buildings, the inclination of customers towards smart buildings, and adoption of IoT and connected technologies. Additional factors adding market growth include constant technological advances to overcome the demerits of traditional or conventional smoke detectors, plentiful benefits such as push notification, smart security, convenience and safety, and need for advanced infrastructure in industrial, commercial, and residential sectors.

On the contrary, the high cost incurred in its deployment and the COVID-19 impact may deter the global smart smoke detector market growth over the forecast period.

Key Players
Prominent contenders profiled in the global smart smoke detector market report include Heiman Co. Limited (China), Full Enterprise Corp. (Taiwan), Nietzsche Enterprise Co. Ltd (Taiwan), The Crow Group (Israel), Lowe's Companies Inc. (US), Erlab (US), Xtralis Pty Ltd (Ireland), Hanwei Electronics Group Corporation (China), UIC Corporation (US), Gentex Corporation (US), Universal Security Instruments Inc. (US), Elgato (Germany), Netatmo (France), Birdi (US), United Technologies Corporation (US), AMP Security (US), Honeywell International Inc. (US), BRK Brands Inc. (US), Huawei Technologies Co. Ltd (China), Roost Inc. (US), Samsung Electronics Co. Ltd (South Korea), and Nest Labs (US).

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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global smart smoke detector market based on type, service, power source, connectivity, and end user.
• By type, the global smart smoke detector market is segmented into laser smoke detector (LSD), aspirating smoke detector (ASD), dual sensor detectors (CO and CO2), photoelectric detectors, and network ionization detectors. Of these, photoelectric detectors will lead the market over the forecast period.
• By service, the global smart smoke detector market is segmented into maintenance and replacement services, installation services, testing and inspection services, and others. Of these, the maintenance and replacement services segment will dominate the market over the forecast period.
• By power source, the global smart smoke detector market is segmented into battery-powered smoke detectors and hard-wired smoke detectors. Of these, the battery-powered smoke detectors will dominate the market over the forecast period.
• By connectivity, the global smart smoke detector market is segmented into ZigBee, Bluetooth, Wi-Fi, and others.
• By end user, the global smart smoke detector market is segmented into commercial, industrial, and residential. Of these, the commercial segment will spearhead the market over the forecast period.

Regional Analysis
By region, the smart smoke detector market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Rising cases of fire hazards in the United States, developed infrastructure, demand for smart devices, advances in IoT, and the presence of a developed infrastructure are adding to the global smart smoke detector market growth in the region.

In Europe, the smart smoke detector market is predicted to hold the second-largest share over the forecast period. The region being well-established and technically advanced is adding to the growth of the market.

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Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Smart smoke detector Market Segmentation
8. Smart smoke detector Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
Continued...…

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This release was published on openPR.