DELRAY BEACH, Fla., Nov. 28, 2024 /PRNewswire/ -- The global smoke detectors market is expected to grow from USD 2.68 billion in 2024 to USD 3.76 billion in 2029, with a CAGR of approximately 7.0% according to a new report by MarketsandMarkets. The main reason for its growth is the increased awareness related to fire safety and enhanced regulations on residential, commercial, and industrial buildings. More frequent occurrences of fire result in upward demand from highly efficient smoke detection systems. This has been further enhanced with smart and IoT-enabled smoke detectors. The technological advancement improves the performance and functionality of the system. Smoke detection solutions are increasingly implemented by industries as building codes change and sustainability initiatives get more attention.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162940771
Browse in-depth TOC on "Smoke Detector Market"
150 - Tables
60 - Figures
250 - Pages
Smoke Detector Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 2.68 billion |
Estimated Value by 2029 | $ 3.76 billion |
Growth Rate | Poised to grow at a CAGR of 7.0% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Detector Type, Power Source, Service, End-Use Industry and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Difficulties in disposing of smoke detectors |
Key Market Opportunities | Increasing installation of smoke detectors |
Key Market Drivers | Growing population and rapid urbanization |
Wireless smoke detectors are projected to hold the highest CAGR in the global smoke detectors market during the forecast period.
Wireless smoke detectors are anticipated to grow with the highest CAGR during the forecast period, as they can be installed easily and offer improved functionality. These devices do not have complex wiring and can be installed anywhere, so they are very appealing to homeowners and businesses seeking DIY solutions. With stringent regulations and increased fire risks awareness, the market is likely to increase the demand for wireless smoke detectors. Newer technologies on battery and sensors have also improved their reliability and efficiency, which adds to the product's market stronghold. Wireless smoke detectors are very well poised for healthy growth as the need for convenience and automation in fire safety solutions develops in smoke detectors.
Dual smoke detectors to capture significant market share during the forecast period.
Dual-sensor smoke detectors will hold a considerable share in the smoke detector market during the forecast period. Combining the power of both ionization and photoelectric sensors, these smoke detectors are superior to others in detecting a large percentage of fires. Ionization sensors are more effective on fast-burning fires, while photoelectric sensors are more effective on slow-burning smoldering fires. Using a combination of the two technologies, dual-sensor detectors will enhance fire safety in several different aspects, and consumer demand along with commercial application of advanced smoke detection, like the one discussed, will always continue to be in trend.
Commercial sector is expected to grow with a significant CAGR in the smoke detector market during the forecast period.
The commercial smoke detector market will likely experience a significant CAGR during the forecast period. This growth is mainly due to increasing urbanization and the rising need for better fire safety measures at workplaces. Stricter regulatory compliance and improving employee safety awareness are also driving this trend ahead. Besides, advances in smoke atmosphere detection technologies such as smart detectors with Internet of Things integration are making the system increasingly popular for commercial purposes and hence speeding up the expansion of the market in that space.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=162940771
Asia Pacific smoke detector market is anticipated to experience highest CAGR fueled by urbanization and technological innovations.
The Asia Pacific smoke detector industry is expected to grow at the highest CAGR during the forecast period, driven by the rapid urbanization and industrialization of countries such as China, India, and Japan. Government measures toward raising fire safety standards help propel the demand for smoke detectors across various sectors. Increased awareness about fire hazards and the ever-growing requirement for reliable detection solutions have been contributing factors to growth. Smoke detection systems with innovative IoT features, in synergy with smart home technologies, will also define the shape of the market landscape across the region.
Major companies operating in the smoke detectors companies include Johnson Controls (Ireland), Robert Bosch GmbH (Germany), Hochiki Corporation (Japan), Siemens (Germany), and Honeywell International Inc. (US).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=162940771
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Fire Protection System Market by Fire Suppression, Smoke Detector (Photoelectric, Ionization, Beam), Flame Detector (IR, UV), Heat Detector, Sprinkler (Wet, Dry, Deluge), Fire Response & Analysis, Service, Vertical and Region - Global Forecast to 2029
Fire Protection System Testing, Inspection, and Certification (TIC) Market by Service Type (Testing, Inspection, Certification), System Type (Fire Alarm Devices, Fire Detection Systems, Sprinkler Systems), Application and Region - Global Forecast to 2028
About MarketsandMarkets
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/smoke-detector-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/smoke-detector.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/smoke-detector-market-worth-3-76-billion-in-2029---exclusive-report-by-marketsandmarkets-302318073.html
