Smoke Detectors Market Size, Share And Growth Analysis For 2023-2032 As Per The Business Research Company's Smoke Detectors Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, June 14, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Smoke Detectors Market Report 2023, the market will grow from* $2.03 billion in 2022 to $2.08 billion in 2023*, at a *compound annual growth rate (CAGR) of more than 2%*. Further, the market will reach* $2.5 billion by 2027*, growing at a *CAGR of more than 5%.* *Western Europe* held the *largest* smoke detectors market share in 2022,*The increasing number of fire incidents *in both commercial and residential settings is a key driver for the smoke detectors industry. The use of synthetic building materials and various types of plastics and textiles in furnishing buildings has heightened the vulnerability to fire accidents. Such incidents pose substantial risks to life and property.
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Major smoke detectors companies are Honeywell International Inc., TyCo, Siemens AG, Ceasefire Industries Pvt. Ltd., Secom PLC, Unisafe Fire Protection LLC, 3M, Nowatec AS, Johnson Control, Robert Bosch, NEC Corporation, Protec Fire Detection PLC, ABB Group, and Schneider Electric.
Key trend in the market is the *utilization of Internet of Things (IoT) technology* in smoke detectors. IoT-enabled smoke detectors offer continuous hazard alerts on mobile devices, even when users are away from their properties. These detectors can operate effectively in buildings with poor network coverage, such as basements or corners. Additionally, IoT smoke detectors provide real-time reporting during fire incidents.
For instance,Huawei Technologies Co., Ltd., introduced NB-IoT smoke detectors with high power efficiency that can run for three to five years on batteries with capacities below 3000 mAh.
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The global smoke detectors market is segmented as -
1) By Product: Photoelectric Smoke Detector, Ionization Smoke Detector, Dual Sensor Smoke Detector, Other Products
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, Other End-Users
The smoke detectors market report serves as a valuable resource for industry stakeholders, investors, and decision-makers seeking insights into the global market. It equips them with a comprehensive understanding of market dynamics, growth opportunities, and potential risks. By analyzing key trends and market projections, this report empowers organizations to make informed strategic decisions, capitalize on emerging trends, and navigate the competitive landscape effectively in the coming years.
*Smoke Detectors G**l**obal Market Report 2023* by The Business Research Company provides insights on the smoke detectors market size, smoke detectors market segments, smoke detectors market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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