What is the global market size of Smoke Detector Market?

Smoke Detector Market size was valued at USD 2.14 billion in 2021 and is poised to grow from USD 2.33 billion in 2022 to USD 4.57 billion by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).

Smoke Detector Market Size, Share, Growth Analysis, By Type(Photoelectric Smoke Detectors, Ionization Smoke Detectors, Dual-Sensor Smoke Detectors, Beam Smoke Detectors and Other), By Technology(Photoelectric, Dual Sensors, Ionization), By Power Source(Battery Powered, Hardwired with battery backup, Hardwired without battery backup), By Service(Engineering Services, Installation & Design Services, Maintenance Services, Managed Services and Other), By End Use(Commercial, Residential, Manufacturing, Oil), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30J2024 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 63 | Figures: 75

Smoke Detector Market Dynamics

Smoke Detector Market Drivers

Growing Awareness of Fire Safety

The increasing awareness of the importance of fire safety and the need for early detection of fires is driving the demand for smoke detectors.

Smoke Detector Market Restraints

Lack of Awareness

Despite increasing awareness of fire safety, there is still a lack of awareness among certain segments of the population, particularly in developing countries.

Smoke Detector Market Report Snapshots

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Global Smoke Detector Market size was valued at USD 2.33 billion in 2022 and is poised to grow from USD 2.54 billion in 2023 to USD 4.98 billion by 2031, growing at a CAGR of 8.80% during the forecast period (2024-2031).

To achieve maximum penetration of the technology, major corporations are expanding their geographical reach, particularly in developing countries. The establishment of R&D centers, in conjunction with strategic collaborations with investment firms, to develop new innovative technologies in response to consumer demand, will be a vital success factor in the next few years. As a result, in order to acquire maximum market share, corporations are likely to focus on innovation, particularly in developing countries and undeveloped areas. 'Kidde', 'BRK Brands', 'First Alert', 'Nest Labs', 'Honeywell International Inc.', 'Siemens AG', 'Johnson Controls International plc', 'Tyco Fire Protection Products', 'United Technologies Corporation', 'Hochiki Corporation', 'System Sensor', 'Xtralis (now part of Honeywell)', 'Gentex Corporation', 'Bosch Security and Safety Systems', 'STMicroelectronics', 'Advanced Detection Systems', 'Apollo Fire Detectors Ltd.', 'Nohmi Bosai Ltd.', 'Panasonic Corporation', 'Edwards Signaling and Security Systems.'

The increasing awareness of the importance of fire safety and the need for early detection of fires is driving the demand for smoke detectors.

Increasing adoption of smart smoke detectors: Smart smoke detectors are becoming increasingly popular due to their ability to integrate with home automation systems and provide remote monitoring and control. These devices can also provide additional features such as voice alerts and integration with other smart devices.

North America held the greatest market share of 31.7% in 2022 and is expected to reach significant heights in the forecast period. Governments are pursuing a variety of severe rules to reduce the occurrence of accidental fires, particularly in the residential sector. According to the National Fire Protection Association (NFPA) in the United States, fires in homes with no working smoke alarms (17%) or no smoke alarms (40%), caused roughly three out of every five home fire deaths. These data encourage clients to install a smoke and fire alarm system in both their home and business properties.

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Smoke Detector Market Dynamics

Smoke Detector Market Report Snapshots

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