Global Smoke Alarm Market is expected to grow from USD 804.08 million in 2017 to USD 1.29 million by 2023, at a CAGR of 8.53% during the forecast period. A smoke alarm is an all-in-one, self-contained device that consists of a detector that senses smoke and thereby generate an alarm that can be an audible or visual warning. Rise in government initiatives regarding fire safety awareness and technological advancements in smoke alarms are the key drivers for the smoke alarm market. However, high cost of replacement of traditional smoke alarms with smart smoke detectors restrain the market growth.
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By sensor technology, the market is segmented into ionization smoke alarm, photoelectric smoke alarms, and combination or dual sensor smoke alarms. The combination/dual sensor market segment is expected to register the highest CAGR during the forecast period. These category of smoke alarms are more reliable as they provide benefits such as more presice smoke detection and are easy to dispose in comparison to ionized smoke alarms that contain radioactive materials.
On the basis of end-user, the market is segmented into residential, academia & institutional, retail, healthcare, hospitality (hotel/leisure), BFSI, transportation & logistics, manufacturing, and others. The residential segment is estimated to dominate the market throughout the forecast period. The increase in the number of government mandate policies with regards to smoke alarms installation at residential spaces and growth in residential construction projects across the globe drive the smoke alarms market for residential segment.
The major players constantly focuses on growth strategies such as strategic partnerships, mergers, acquisitions, and product launch to enhance their product offerings and expand their market reach. For instance, in 2018, legrand announced the acquisition of the french hardware startup Netamato. Netamato, a leading manufacturer of smoke alarms integrated as a brand in Legrand’s portfolio.
The prominent players in the smoke alarm market are Johnson Controls Inc (US), Protec Fire Detection PLC (UK), Schneider Electric (France), Robert Bosch GmbH (Germany), United Technologies Corporation (US), Nest Labs (US), Siemens AG (Germany), Legrand (France), Newell Brands (US), Halma Plc (UK), Hochiki Corporation (Japan), Honeywell International (US), Secom Co., Ltd (Japan), Minimax Viking GmbH (Germany), Gentex (US), Schrack Seconet AG (Austria), NEC Corporation (Japan), and Ceasefire Industries Pvt. Ltd. (India).
The smoke alarm market has witnessed the rising demand across the globe owing to government mandate policies in developed economies such as the US to install smoke alarms in residential premises. Key players to further strenghten their market position have opted for partnerships and new product launches as their key organic growth strategy. In december 2018, FirstAlert launched a new OneLinksmart smoke and carbon monoxide alarm that works with both Apple HomeKit and Amazon Echo connected home support.
Smoke alarm market is segmented based on sensor technology, power backup, end-user, and region.
By sensor technology, the market is segregated into ionization smoke alarm, photoelectric smoke alarms, and combination or dual sensor smoke alarms.
On the basis of power backup, the market is segmented battery powered, hardwired, and hardwired with battery backup.
By end-user, the market is segmented residential, academia & institutional, retail, healthcare, hospitality (hotel/leisure), BFSI, transportation & logistics, manufacturing, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.
The global market for smoke alarm market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of smoke alarm market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the smoke alarm market from 2018 to 2023 as the region has a sustainable and well-established economy and the region witnesses stringent government mandates with regards to smoke alarms installation in residential and commercial space. Furthermore, the presence of the leading manufacturers in the region further drive the smoke alarm market in these regions.
Asia-Pacific is estimated to register the highest CAGR during the forecast period. The growth in the region is attributable to factors including ongoing infrastructure development, rapid pace of urbanisation, and rise in number of residential and commercial spaces including healthcare centers, educational institutions, and malls.
TABLE OF CONTENTS
1 Executive Summary
1.1 Market Attractiveness Analysis
1.2 Global Smoke Alarm Market, By Sensor Technology
1.3 Global Smoke Alarm Market, By Power Backup
1.4 Global Smoke Alarm Market, By End-User
1.5 Global Smoke Alarm Market, By Region
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Buying Criteria
2.5 Macro Factor Indicator Analysis
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List Of Assumptions
4 Market Insights
5 Market Dynamics
5.6 Technological Trends
5.7 Regulatory Landscape / Standards
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LIST OF TABLES
Table 1 Global Smoke Alarm Market, By Region, 2018–2023
Table 2 North America: Smoke Alarm Market, By Country, 2018–2023
Table 3 Europe: Smoke Alarm Market, By Country, 2018–2023
Table 4 Asia-Pacific: Smoke Alarm Market, By Country, 2018–2023
Table 5 Middle East & Africa: Smoke Alarm Market, By Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Smoke Alarm Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Smoke Alarm Market
FIGURE 4 Value Chain Of Global Smoke Alarm Market
FIGURE 5 Share Of Global Smoke Alarm Market In 2017, By Country (In %)
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