Rapid developments in industrial and commercial sectors will drive the demand for smart smoke detection systems in the coming years.
Arizton’s recent market research report on the global smart smoke detector market provides a detailed industry analysis, trend forecasts, and the competitive landscape. This research report provides a detailed analysis of market segmentation by product type (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). Also, the research report offers market share in terms of volume (million units) during the forecast period.
The global smart smoke detector market is expected to reach over $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. The need for proactive defense against fire accidents is driving market growth of smart smoke detectors. Flaws in traditional smoke detectors have driven the usage and adoption of smart smoke detectors.
The leading three drivers and trends driving the smart smoke detection system market are discussed below:
Increasing Vulnerability of Modern Houses
Researches carried out by regulatory bodies have shown that new homes and furniture are more susceptible to fires. 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 defective and the absence of smoke detectors are the major factors that have increased the vulnerability of modern houses. In 2012, UL (Underwriters Laboratory) designed a series of experiments that focus on testing the size and geometry of modern homes against legacy homes and comparing furnishing materials from the 1950s and the 1970swith new materials. It was found that furniture manufacturers shifted from materials such as feather down cushions and hair and cotton padding to affordable upholstery such as polyurethane. Safety initiatives from manufacturers and regulatory bodies are to boost the adoption of smart smoke detectors during the forecast period.
Rapid Developments in Industrial and Commercial Sectors
According to the WHO, 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 lack of awareness and the low usage of fire safety equipment such as smoke detectors, fire alarms, sprinklers, and fire management systems. Rapid industrialization, growth of the commercial realty sector, boom in the IT industry, and rise in shopping malls have increased the demand for fire safety equipment. The move toward digitization, increasing fire safety awareness, and the introduction of stringent safety regulations by governments globally are likely to have a positive impact on the global smart smoke detection systems market during the forecast period.
Reduced Maintenance to Drive Demand for Smart Smoke Detectors
A major advantage that generates substantial growth opportunities for vendors is the reduction in maintenance expense smart smoke detection systems offer end-users. Conventional and traditional smoke alarms or smoke detectors are recommended to be replaced after every 10 years of usage, whereas battery ones requires to be replaced almost every 2−3 years. Mew smart smoke detectors tend to offer effortless and convenient usage via batteries with a life span of almost 10 years. The long battery life and the reduced maintenance cost are expected to have a significant impact on market vendors and end-users. Smart detectors will automatically notify the owner for the change in the battery or other service-related instructions. These are expected to benefit end-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 detector market by Arizton is now available.
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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