SMOKE DETECTOR MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Smoke Detector Market Analysis:

The Smoke Detector Market is anticipated to experience growth from USD 2.81 billion in 2023 to USD 3.97 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 7.13% during the forecast period (2023–2028).

The latest trend of IoT-enabled smart smoke-detecting service provides customers with the ability to prevent false alarms and offers enhanced security through advanced risk monitoring and immediate action in any adverse situation. Customers can deactivate the alarm via their IoT-enabled devices in the event of false alarms, and the IoT-enabled system notifies the user about the need to replace batteries and other wearables. Additionally, the integration of smartphones will drive the smoke detector market during the forecast period.

A smoke detector is crucial for the early detection of a fire in the residential, commercial, and industrial segments worldwide. In a fire, smoke and toxic gases tend to spread faster and farther than heat, leading to death from inhalation of smoke and toxic gases. The growth of the commercial realty sector and IT industry to safeguard high-value assets such as data centers, manufacturing plants, powerhouses, buildings, and IT infrastructure is driving the demand for fire safety equipment.

The implementation of residential safety standards is driving the market. The increase in concern about fire safety has prompted the US Fire Administration (USFA) to establish guidelines. Smoke detectors must now be installed inside every bedroom, outside each sleeping area, and on each level of the home, including the basement, and one carbon monoxide detector on each level and in each sleeping area. Photoelectric detectors are more commonly used in homes as they quickly detect smoke from burning fabrics and furnishings.

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