NEW YORK , July 26, 2022 /PRNewswire/ -- The smoke detectors market is set to grow by USD 461.19 million from 2020 to 2025 as per the latest market report by Technavio. The report projects the market to progress at a CAGR of 4.71%. 30% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for smoke detectors in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The presence of strict regulatory mandates and increased awareness toward fire safety compliance across end-user industries will facilitate the smoke detectors market growth in APAC over the forecast period.
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Smoke Detectors Market: Segmentation Analysis
The market research report segments the smoke detectors market by End-user (commercial and public, residential, and industrial), Type (photoelectric, dual-sensor, ionization, and others), and Geography (North America , Europe , APAC, South America , and MEA).
Revenue Generating Segment - The smoke detectors market share growth in the commercial and public segments is significant for revenue generation. The commercial and public segment includes commercial facilities such as office buildings, malls, multiplexes, data centers, art galleries, warehouses, hotels, motels, and supermarkets, and public facilities such as railway stations, museums, metro stations, hospitals, government buildings, and airports. The commercial and public segment is expected to grow at a steady pace during the forecast period owing to increasing growth in commercial and public space constructions, as well as the regulations mandating and underlying the installation of smoke detectors.
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Smoke Detectors Market: Market Dynamics
The increase in residential construction will fuel the growth of the smoke detectors market size. Residential building owners are the key end-users of smoke detectors. Over the last few years, there has been a growing emphasis on safety measures, primarily due to accidents and related casualties in residential buildings. As a result, new guidelines related to residential safety such as the NFPA 74 and the EN 54-7:2018 have been adopted, primarily in western countries such as the US and the UK. Governments in other countries have also started adopting residential safety standards. The implementation of sufficient safety measures and compliance with specific safety regulations have been mandated, which has helped the global home safety market, including the global residential smoke detector market, remain buoyant.
However, the factors such as the disposal of smoke detectors may impede the market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge.
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Get ready to achieve excellent business outcomes from this exclusive Smoke Detectors Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -
What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
What is the current trend taking place in the market space?
Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
What are market drivers, restraints, and challenges impacting demand & growth of the market?
Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Smoke Detectors Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our Smoke Detectors Market Forecast Report - Buy Now!
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Accelerate at a CAGR of 4.71%
North America, Europe, APAC, South America, and MEA
US, Germany, China, Canada, and India
Leading companies, competitive strategies, consumer engagement scope
ABB Ltd., BRK Brands Inc., Carrier Global Corp., Hochiki America Corp., Honeywell International Inc., Johnson Controls International Plc, Robert Bosch GmbH, Schneider Electric SE, Siemens AG, and Universal Security Instruments Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Market outlook: Forecast for 2020 - 2025
The threat of new entrants
Commercial and public - Market size and forecast 2020-2025
Residential - Market size and forecast 2020-2025
Industrial - Market size and forecast 2020-2025
Photoelectric - Market size and forecast 2020-2025
Dual-sensor - Market size and forecast 2020-2025
Ionization - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
North America - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Currency conversion rates for US$
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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