The calibration and adoption of fire safety regulations worldwide is influencing the global smart smoke detector market. The penetration of IoT in fire safety devices and stability in the economic environment are expected to affect market growth significantly. The increasing demand for photoelectric detectors, the growing popularity of hardwired with battery type detectors, and the rising need for asset protection are other important factors driving the smart smoke detector market.
The need for a proactive defense mechanism against fire accidents is a major factor responsible for market growth. Flaws in traditional smoke detectors have led to the manufacturing of smart smoke detecting devices. Smart detectors also prevent false alarms. For instance, on smoke detection, the detector issues a vocal warning instead of sounding the alarm. Nest Labs’ smart detector uses a female voice to issue the first warning. IoT-enabled detectors can help to reduce fire-related insurance claims significantly. Therefore, vendors have significant opportunities for market growth with the integration of IoT with smoke detecting systems.
The application of IoT in smoke detecting devices is opening new avenues for market vendors. APAC, Latin America, and MEA are expected to be the fastest growing markets during the forecast period. Strong initiatives by global regulatory bodies, increased the need for proactive defense systems, and the growth of home automation will positively affect the market during the forecast period.
Rapid advancements in Artificial Intelligence have majorly influenced the development of smart smoke detector market. For instance, BRK Brands’Onelink can integrate with Alexa smart speaker and is also compatible with Apple’s HomeKit. The increasing number of deaths due to fire accidents has driven government and regulatory agencies worldwide to install smoke detectors, thereby driving their growth. Further, a booming in the IT and real estate sectors is expected to positively affect the smart smoke detector market during the forecast period.
SMART SMOKE DETECTOR MARKET SEGMENTATION
The report includes a detailed segmentation of the market by
INSIGHTS BY PRODUCT TYPES
Photoelectric sensors’ high efficiency make them an optimal choice among vendors
The global smart smoke detector market by product type is segmented into photoelectric detectors, ionization detectors, and others. The photoelectric segment dominated the global market, occupying approximately 80% revenue in 2018. With changing technological trends, vendors are facing the challenge of selecting an apt sensor for their next generation smart detectors. Hence, the high efficiency of photoelectric sensors makes an optimal choice. Thus, vendors are continuously offering smart and advanced products.
INSIGHTS BY END-USERS
The increasing application of IoT in the commercial sector is expected to drive the smart smoke detector market
The smart smoke detector market by end-user is classified into commercial, industrial, residential, educational institutions, and government. The commercial sector dominated the global market and is likely to grow at a CAGR of over 12.5% by 2024. The sector is the highest adopter of smoke detecting devices due to the stringent compliance of fire safety norms laid down by regulatory bodies. The use of smoke detecting devices in industrial sectors such as oil and gas, manufacturing, plants, and powerhouses will further boost the growth of these devices in the industrial sector. The residential end-user segment is likely to witness rapid and considerable growth in CAGRs during the forecast period due to the rise in home automation and the implementation of stringent fire safety regulations.
INSIGHTS BY POWER SOURCES
The implementation of stringent safety regulations is a major driver for the growth of hardwired battery smoke sensors
The global smart smoke detector market by power sources is divided into hardwired, battery-powered, and hardwired with battery. In terms of revenue, the hardwired segment is likely to dominate the global market during the forecast period. The implementation of stringent safety regulations is a primary driver for hardwired devices. Easy installation and long battery life are the factors attributed to the increased demand for battery-powered detectors. However, the battery-powered segment is likely to face strong competition from the hardwired and hardwired with battery detector segments. Hardwired-battery detectors are slowly gaining popularity due to the extensive protection they offer.
INSIGHTS BY GEOGRAPHY
APAC to grow at the fastest CAGR during the forecast period
The global smart smoke detector market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. North America is likely to dominate the global smart smoke detector market in terms of shipment. In North America, the US and Canada were the major revenue contributors to the market in 2018, as these countries witnessed a surge in the adoption of smoke detecting devices due to stringent fire safety norms. In addition, the rapid adoption of photoelectric solutions and dual smoke detecting systems is also expected to influence the market during the forecast period positively.
Rapid urbanization is expected to drive the smart smoke detector market in APAC during the forecast period. The MEA region is also expected to witness steady growth in the demand for the smart smoke detector.
INSIGHTS BY VENDORS
The smart smoke detector market has highly diversified as each geography has its own competitive dynamics. The North American market can be termed as the most competitive market due to high product reach, increasing market demand, and the presence of several players. The US is the most lucrative market in North America due to the growing adoption of photoelectric and dual smoke detector solutions.
The smart smoke detector market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
By Product Type
- Photoelectric Detectors
- Ionization Detectors
- Educational Institutions
By Power Sources
- Hardwired with Battery
- North America
- Latin America