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SMOKE DETECTOR MARKET SIZE TO CROSS $7 BILLION BY 2024, GROWING AT A CAGR OF OVER 7% DURING THE FORECAST PERIOD
Smoke Detector Market Size, Share, Trends, Analysis Report by Product Types (Photoelectric Detectors, Ionization Detectors, and Others), End-Users (Residential, Commercial, Industrial, Educational Institutes, and Government), Power-Source Types (Hardwired, Battery-Powered, and Hardwired Battery), and Geographies (North America, Latin America, Europe, APAC, and Middle East & Africa) Industry Analysis Report, Regional Outlook, Growth Trends, Competitive Landscape, Share & Forecast, 2018–2024
GLOBAL SMOKE DETECTOR MARKET REPORT SCOPE
|MARKET SIZE (REVENUE)||
Revenue (2024): $7 Billion
Compound Annual Growth Rate (CAGR): Over 7%
North America, Europe, APAC, Latin America, and Middle East & Africa
US, Canada, Germany, UK, France, China, Japan, Australia, Brazil, Mexico, UAE, and South Africa
The incorporation of IoT and AI is expected to revolutionize smoke detector systems
Government and regulatory agencies worldwide are implementing stringent fire safety regulations in order to minimize fatalities caused due to fire accidents. As the smoke detector market is undergoing an extensive evolution with the penetration of AI, RPA (Robotic process automation), ML (Machine Learning), and IoT, the market is witnessing a transformation in a range of products, including home alarm systems, water leak detection devices, and smoke alarm/detectors. IoT is a new-age technological advancement, which is expected to gain momentum and popularity by the end of 2020.
Rapid technological developments and an increase in demand from end-users such as government, commercial, residential, industrial, and educational sectors have led to the evolution of smart fire alarms.
Vendors are investing in R&D to integrate safety alarms systems with smart digital assistants
The need for new-age smoke detectors, the demand for stringent safety regulations, and the heightened competition have pushed vendors to integrate safety alarms systems with smart digital assistants. The entry of tech giants such as Google, Amazon, and Samsung Electronics is also fueling the smart homes and smart smoke detector market. For instance, in 2018, Amazon acquired Ring, which is a known connected doorbells and cameras manufacturing company. Similarly, Alphabet and Samsung Electronics acquired Nest and SmartThings, respectively, to develop hi-tech safety detectors. In 2017, Honeywell announced a range of smart aspiring devices with improved detection and touchscreen and Wi-Fi capabilities.
The integration of digital assistants with safety alarm systems is expected to bring a new generation of smart fire detection and suppression equipment during the forecast period. With the increasing concentration of smart fire alarms, the adoption of fire safety technology, and the growing popularity of home automation technology, the global market is expected to increase its profit margins significantly.
Smoke Detector Market Segmentation
This research report includes a detailed segmentation by power sources, product types, end-user type, and geography.
Insights by Product
Government and regulatory bodies are playing a crucial role in the adoption of photoelectric sensors
The photoelectric detector segment dominates the global smoke detector market shares and has captured nearly half of the global market. A photoelectric detector system operates on the light scattering principle or the light obscuration principle that consists of a LED and a photodiode. Government and regulatory bodies are playing a crucial role in the adoption of photoelectric smoke detector sensors as they are making it mandatory to install fire alarms in residential and commercial units.
An ionization detector system comprises an ionization chamber and a source of ionizing radiation to detect smoke. The radiation chamber consists of a small amount of americium. Affordable price and good smoke detection produced by flaming fire have increased the sale of ionization smoke fire alarm. Other detectors actively draw air from the surrounding area through a network of pipes and then analyze it in its high-sensitivity smoke-sensing chamber. It is generally installed in data centers where the downtime is very less. The global market is witnessing advancements as vendors are striving to integrate smart technology with firm safety products.
Insights by End-users
The commercial sector is emerging as the major adopter of smoke detecting devices
The end-users segment can be classified into commercial, industrial, residential, educational institutes, and government. The commercial segment has the highest share, which is expected to grow with a CAGR of around 7% during the forecast period. With an increase in the compliance of stringent fire safety regulations mandated by government and regulatory bodies, the commercial segment is expected to experience a high demand for smart fire alarms during the forecast period. The increase in the adoption of office buildings, retail/restaurants, hotels, nursing homes, and self-storage complexes is influencing the commercial smart smoke alarm market.
The industrial, residential, educational institutes and government sectors are other major contributors. Further, rise in smart homes, growth of educational institutes and stringent compliance to government fire safety regulations would propel demand for smart fire alarm systems, thereby affecting the market.
Insights by Power Sources
Hardwired-battery fire detector systems are highly popular as they offer long battery backups
The global smoke fire alarm market by power sources can be classified into three types - hardwired, battery-powered and hardwired battery ones. The hardwired with battery smoke detectors segment is the fastest growing one, and it is expected to grow at a CAGR of around 7% during the forecast period. It comprises an additional battery, which helps it to stay operational for 365 days a year. Safety experts highly recommend hardwired battery smoke alarms as they provide extensive protection.
Hardwired devices are connected to the house’s electrical system, which ensures more security and less hassle of battery checking and replacement. Battery operated wireless devices, on the other hand, offer optimal protection by notifying emergency services during fire. It is capable to provide uninterrupted protection for ten years.
Insights by Geography
The increased strictness of fire safety norms in the US and Canada has led to an increase in sale
North America captures around one-third of the smoke detector market shares. The presence of top-notch companies in Silicon Valley is re-shaping technological aspects of fire safety devices. The increased strictness of fire safety regulations in the US and Canada has increased the purchase of smoke detecting devices, thereby helping North America to emerge as the largest market for fire alarms. The presence of stringent fire safety regulations and the growth of the construction industry and economic growth are expected to increase the revenue in Europe. The growing construction in residential, non-residential, and civil engineering sectors is boosting the smart smoke detector market in APAC, Latin America, and MEA.
Key Vendor Analysis
The market is likely to experience high growth in the coming year due to futuristic technological advancements. Currently, the smoke fire alarm market is not just a consumer good, but it is an essential commodity. Prominent vendors in the smoke alarm industry are actively involved in strategic acquisitions and mergers, which are expected to augur well for the market during the forecast period.
- Nest Labs
- HOCHIKI Corporation
- Johnson Controls
- Honeywell International
The smoke detector market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Educational Institutions
- Photoelectric detector
- ionization detector
By Power Source
- Hardwired with Battery
- North America
- Latin America
- Middle-East & Africa
- South Africa
Key Questions Answered
- What is the smoke detector market size and growth rate during the forecast period?
- What are the factors impacting the growth of the smoke detector market shares?
- How is the growth of the commercial segment influencing the growth of the smoke detector market?
- Who are the major vendors in the smoke detector market, and what are their market shares?
- Which product type/end-users/region is generating the largest revenue in the Europe region?
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