Smart Smoke Detector Market – Overview
The global smart smoke detector market was valued at USD 971 million in 2017 and is expected to reach USD 1,533 million by the end of forecast period with a CAGR of 8.2%.
Premise safety has gained increased emphasis with properties becoming increasingly expensive; thus, smart smoke detectors market is also gaining momentum. Reports that investigate the semiconductors and electronics industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects.
The adoption of smart devices has increased significantly in recent times due to the presence of a more well-informed consumer base. The penetration of artificial intelligence and the internet of things is expected to further strengthen the market expansion of smart smoke detectors in the forecast period.
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Key Players
The central contenders in the smart smoke detector market are Samsung Electronics Co. Ltd (South Korea), Nest Labs (US), Roost Inc. (US), BRK Brands Inc. (US), Birdi (US), Huawei Technologies Co. Ltd (China), Honeywell International Inc. (US), United Technologies Corporation (US), AMP Security (US), and Leeo Inc. (US).
Segmental Analysis
The segmentation evaluation of the smart smoke detector market is carried out on the basis of type, service, power source, connectivity, and end-user. Based on the type, the smart smoke detector market is segmented into photoelectric detectors, dual-sensor detectors (CO and CO2), network ionization detectors, aspirating smoke detector (ASD), and laser smoke detector (LSD). On the basis of service, the smart smoke detector market is segmented into installation services, testing & inspection services, and maintenance & replacement services. Based on the power source, the smart smoke detector market is segmented into battery-powered smoke detectors and hard-wired. On the basis of connectivity, the smart smoke detector market is segmented into Bluetooth, Wi-Fi, ZigBee, and others. Based on the end-users, the smart smoke detector market is segmented into industrial, residential, and commercial.
Detailed Regional Analysis
The regional analysis of Commercial Smoke Detector (COVID-19 Impact Analysis) covers regions such as Europe, North America, Asia Pacific, and the rest of the world. The North American region controls the smart smoke detector market due to augmented cases of fire hazards in the US. Furthermore, the region has an advanced infrastructure, and with the developments in the Internet of Things, the need for smart devices in premises has been detected. The European region is the subsequent leading region in the smart smoke detector market. Though the European region is technically progressive and well-established, the populations are unlikely to change to smart solutions which might hinder the market growth in the European region. On the contrary, the region of Asia Pacific is anticipated to observe a maximum development rate in the forecast period. Key countries in the Asia Pacific region are heavily financing the smart cities development in their territory which is also powering the implementation of smart smoke detectors by the end-consumers. Countries like the UAE in the Middle East are anticipated to back the need to invest heavily in changing their conventional infrastructure into a smart one.
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Competitive Analysis
The global currencies are envisaged to become steady, and as a result, place exerts a gainful impact on the market. The revival of investment inflow of capital is projected to add force to the market’s escalation in the forecast period. The market is being highlighted by the active forces that are exerting an impressive influence. The advance in the mining of natural resources is additionally sustaining market expansion. The development of alternate raw material assets is likely to further focus on the supply demands in the market. The advancement in the effectiveness of production amenities is strengthening the market’s expansion pace in the approaching years. Also, innovations in technology are projected to apply a productive stimulation on the enrichment of the market. The control of governmental plans on the market is inspiring further evolution of the market. The revolutionizations carried out in the logistic chain are anticipated to create encouraging possibilities for growth in the approaching period.
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