Global Smoke Detector Market size is expected to reach $2.8 billion by 2023
The Smoke Detector Market size is expected to reach $2.8 billion by 2023, rising at a market growth of 8.8% CAGR during the forecast period. Smoke Detector is a sensing device and it is used in containing fire incidences efficiently. The smoke detecting devices are largely installed in residential & commercial setups to raise alarm during fire incidences. Smoke can be detected either optically (photoelectric method) or physically (ionization method). Due to the effectiveness of the technology, the detectors are widely installed in malls, auditoriums, corporate buildings, residential buildings, and other public places. The smoke detectors market would witness significant rise during the forecast period due to growing urban population, and rapid development in both residential and non-residential sectors. The demand for the smoke detectors would witness significant growth due to rapid infrastructural development, such as hotels, residential & corporate buildings, educational institutions, entertainment buildings, and other commercial buildings.
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Based on Types, the market report segments the market into Product and Services. Product Types includes Photoelectric Smoke Detector, Ionization Smoke Detector, Dual Sensor Smoke Detector, and Other Type. Based on Verticals, the Global Smoke Detector Market is segmented into Commercial, Oil & Gas and Mining, Telecom & IT, Automotive, Manufacturing, Residential, and Others. Based on Regions, the market report segments the market into Commercial, Oil & Gas and Mining, Telecom & IT, Automotive, Manufacturing, Residential, and Others.
The market research report covers the analysis of key stake holders of the Global Smoke Detector Market. Key companies profiled in the report include Ceasefire Industries Pvt. Ltd. Hochiki Corporation, Honeywell International, Inc., Johnson Controls International Plc., Google Inc. (Nest Labs), Protec's Fire Detection Plc., .Robert Bosch, Secom Co. Ltd., Scheinder Electric, and Siemens AG.
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