Low Maintenance to Drive Demand for Smart Smoke Detection System
Arizton’s recent market research report on the global smart smoke detector market provides detailed industry and competitive analyses and trend forecasts. This research report provides a comprehensive analysis of the smart smoke detection system market segmentation by product types (photoelectric detectors, ionization detectors, and others), power sources (hardwired, battery-powered, and hardwired with battery), end-users (residential, commercial, industrial, educational institutes, and government), and geographies (APAC, Europe, North America, Latin America, and MEA). The research report offers the market share analysis in terms of volume (million units) during the forecast period.
The global smart smoke detector market is expected to more than $2 billion by 2024, growing at a CAGR over 12.5% during 2018–2024.
Nest Labs, Samsung Electronics, Roost, and Huawei are identified as the leading vendors that are likely to dominate the market during the forecast period. Market growth of smart smoke detectors is driven by the need for proactive defense against fire accidents. Serious mechanical flaws in traditional smoke detectors have led to the usage and adoption of smart smoke detectors.
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The leading three drivers and trends driving the smart smoke detection system market are discussed below:
Increasing Vulnerability of Modern Houses
Research carried out by regulatory bodies shows that new homes and furniture catch fire faster than expected. The amount of time needed to escape from a house on fire has greatly reduced from about 17 minutes in the 1980s to about 3−4 minutes currently. Synthetic materials used in carpets, drapes, and pillows catch fire and burn faster than natural materials. The usage of new lightweight building materials such as smaller wood and OSB boards and the use of defective or absence of smoke detectors are the major factors that contribute towards the increased fire vulnerability in homes. Further, vendors and manufacturers are increasingly taking up go green initiatives to comply with regulatory, which is expected to boost the adoption of smart smoke detection system during the forecast period. In 2012, Underwriters Laboratory designed a series of experiments focused on testing the size and geometry of modern homes against legacy homes. In these experiments, furnishing materials from the 1950s and the 1970s were compared to new materials, and it was found that furniture manufacturers shifted from feather down cushions and hair and cotton padding to affordable upholstery such as polyurethane, which reduced the chance of ignition from a smoldering source.
Rapid Developments in Industrial and Commercial Sectors
According to the WHO, accidental burns are a global public health challenge, accounting for more than 180,000 deaths annually. A majority of these accidents occur in low- and middle-income countries due to the lack of awareness and low usage of fire safety equipment such as smoke detectors, fire sprinklers, alarms, and fire management systems. Rapid industrialization, growth in the commercial realty sector, boom in the IT industry, and an increase in commercial construction, including shopping malls have increased the adoption of fire safety equipment. The shift toward digitization, increase in fire safety awareness, and the introduction of stringent safety regulations worldwide are likely to have a positive effect on the global smart smoke detection system market during the forecast period.
Low Maintenance to Drive Demand for Smart Smoke Detectors
A key advantage that creates substantial opportunities for smart smoke detection system vendors is the longevity, which smart smoke detection systems offer by reducing maintenance expense for end-users. Conventional smoke alarms or smoke detectors are recommended to be replaced after every 10 years of usage, with the battery used in the same requires to be replaced almost every 2−3 years. New smart smoke detectors tend to offer effortless and convenient usage via batteries with a life span of almost 10 years. Long battery life and reduced maintenance costs are expected to have a significant impact on vendors and end-users. Smart smoke detectors automatically notify the owner with respect to the need for change in battery or other service-related instructions. These are expected to benefit end-user customers and vendors engaged in the sale of smart smoke detectors across geographies.
The complete overview of the latest market research report on the global smart smoke detection system market by Arizton is now available.
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The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecasts for major geographical regions.
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