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Introduction/Market Overview:
Global Smoke Detectors Market Professional Survey Report 2019
The global smoke detectors market hit a significant high in the year 2018 and is expected to grow exponentially all across the globe. The industry is expected to grow at a compound annual growth rate of 8.3% during the forecasted period and will hit an astounding figure by the year 2024. The industry is marked by significant players all across the globe. With the intervention of new technologies, the industry is expected to change rapidly all across the world.
When it comes to smoke detectors, there is a range of factors that affect the growth prospects of the industry. The rapidly evolving Internet of Things industry, coupled with rising awareness among citizens, has helped the sector proliferate all across the globe. On the other hand, the easy availability of products coupled with a robust supply chain has worked in favor of the industry. Furthermore, the rising instances of fire outbreaks pose a significant threat to families, and families are in search of solutions that work irrespective of the conditions.
Smoke detectors find considerable application in industrial and commercial purposes. Both sectors have goods and workers at the center of it. Even a minor incident can turn into a violent nightmare and hence should not be ignored at all costs. This, in turn, has helped the industry proliferate in recent years while the analysts remain positive about the growth prospects of the industry. On the other hand, stringent government laws have made smoke detectors part of every household.
Important Key Players Analysis: BRK Brands, Kidde, Honeywell Security, Tyco, Johnson Controls, Halma, Hochiki, Sprue Aegis, Xtralis, Siemens, Ei Electronics, Nohmi Bosai, Panasonic, X-SENSE, Smartwares, Hekatron, Nest, Busch-jaeger, Gulf Security Technology and more.
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Segmentation
The smoke detectors industry can be segmented on several factors. Some of the prominent factors include the technology type and the end-user type. Based on end-user type, the industry is segmented into commercial, residential, oil & gas, and transportation & logistics industry. On the other hand, based on the technology type, the industry is segmented into ionization smoke detection, beam smoke detection device, and photoelectric smoke detection device. The segmentation help in several ways by making the picture evident with an unbiased opinion about the industry.
Regional Overview
The smoke detectors have a global presence with the biggest market in North America. Stringent laws, coupled with the rise in disposable income, has helped the industry increased in the region. On the other hand, the rise in awareness among individuals has also helped the sector increased in the area. The same goes for other developed regions of Europe. Furthermore, the industry shows some significant signs of growth in the Asia Pacific region, where the segment is still in its nascent stages. The Southeast also shows some significant growth opportunities with the presence of a large number of hotels in the region.
Key Stakeholders
Smoke Detectors Manufacturers
Smoke Detectors Distributors/Traders/Wholesalers
Smoke Detectors Sub component Manufacturers
Industry Association
Downstream Vendors
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Industry News
The American Red Cross’ Home Fire Campaign completes its fifth anniversary in this following. The campaign has been named “Sound the Alarm” and till now has installed 2 million smoke alarms till date and makes people aware of the fire hazards. At least 638 lives have been saved till now because of the initiative.
Continued…