London, United Kingdom, May 02, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Smoke Alarm Market Research Report Information By Sensor Technology, Power Backup, End-Users, And By Region – Market Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 06 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8.00% during the assessment timeframe.
Smoke Alarm Market Overview:
A smoke alarm is a device that makes advanced home safety a reality. These devices are equipped with patented electrostatic precipitator (ESP) smoke detection technology that detects hazardous smoke and determines its danger level, minimizing the number of false alarms. Smart smoke alarms are mobile network-connected devices that bring new functionality and security.
To meet the growing market demand for smart smoke alarms, manufacturers use their mobile innovation, combined with connectivity device manufacturing experience and know-how, making it possible to bring their products to the market. The smart characteristics of this device provide unprecedented fire security using early detection and advanced notification systems.
The mobile connectivity feature enables up to a five-degree notification system and makes it possible to inform emergency responders directly, improving reaction time and rate of life-saving. About eighty percent of fire deaths happen due to inhalation of toxic smoke. Smoke alarms can sense potential fire hazards early and warn occupants with a loud siren to save them from being intoxicated by smoke.
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Key players leading the smoke detector market include-
- Protec Fire Detection PLC (UK)
- Johnson Controls Inc (US)
- Schneider Electric (France)
- United Technologies Corporation (US)
- Robert Bosch GmbH (Germany)
- Nest Labs (US), Legrand (France)
- Siemens AG (Germany)
- Newell Brands (US)
- Hochiki Corporation (Japan)
- Halma Plc (UK)
- Honeywell International (US)
- Minimax Viking GmbH (Germany)
- Secom Co., Ltd (Japan)
- Gentex (US)
- NEC Corporation (Japan)
- Schrack Seconet AG (Austria)
- Ceasefire Industries Pvt. Ltd. (India)
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 06 Billion |
| Growth Rate | CAGR of 8.00% from 2023 to 2030 |
| Base Year | 2022 |
| Study Period | 2023-2030 |
| Key Market Opportunities | Rapid technological advancement |
| Key Market Drivers | Rise in government initiatives regarding fire safety awareness Technological advancements in smoke alarms Growing Consumer Awareness about Fire Safety |
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Industry Trends
The global smoke alarm market has steadily risen over the past few years. The market growth attributes to stringent government regulations to minimize rising fire death rates due to inhalation of toxic smoke. Growing installations of smart smoke alarms and fire alarm systems in residential units fuel the growth of the real-estate sectors, increasing the value of a residential property.
Additional factors bolstering the smoke alarm industry include the widespread awareness about safety and the rising use of fire detection systems across end-use industries. Conversely, the lack of awareness about the benefits of these systems is a major factor impeding the market growth. Nevertheless, rising government funding for free distribution and incentives to motivate manufacturers would support the market growth throughout the assessment period.
Smoke Alarm Market Segments
The smoke alarm (smoke detector) market is segmented into sensor technology, power backup, end-users, and regions. The sensor technology segment is sub-segmented into ionization smoke alarms, photoelectric smoke alarms, and combination/dual sensor smoke alarms. The power backup segment is sub-segmented into battery-powered, hardwired & hardwired with battery backup, and others.
The end-user segment is sub-segmented into residential, academia & institutional, retail, healthcare, hospitality (hotel/leisure), BFSI, transportation & logistics, manufacturing, and others. By regions, the smoke alarm market is sub-segmented into the Asia-Pacific, Americas, Europe, and the Rest-of-the-World.
Geographical Analysis
North America dominates the global smoke alarm market. The largest market share is attributed to the stringent government mandates regarding smoke alarm installation in residential and commercial spaces. Besides, the sustainable and well-established economy in the region allows for increasing demand for smoke detectors. The strong presence of leading industry players in the region further drives the smoke alarm market growth.
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The smoke alarm market in the Asia Pacific region accounts for the second-largest market globally. The growing demand from the consumer goods manufacturing sectors, alongside the expanding production capacities in the region, fosters the market's growth. Additionally, ongoing infrastructure development projects, the rapid pace of urbanization, and the rise in residential and commercial spaces push the smoke alarm industry.
The European smoke alarm market accounts for a promising share globally. The extensive demand for smoke detection technologies from various well-established industries, such as automotive and construction, influences the regional market share. Rapid consumption in developed end-user industries and innovations in fire detection technologies fosters the growth of the smoke alarm market.
Competitive Landscape
Highly competitive, the smoke alarm market appears fragmented due to the presence of several players. Matured and small-scale players, along with the new entrants, form a competitive landscape. These players try to gain a competitive advantage through acquisition, strategic partnership, expansion, product/technology launch, and collaboration. Substantial investments are transpired in R&D to develop a completely different technology than their competition.
Smoke detector and alarm manufacturers upgrade their product line with extended battery life, suiting smart home systems. Leading global home safety brands invest significantly in developing and launching smart smoke detectors. They make Wi-Fi-connected smoke alarms powered by their proprietary technology and innovations and try to add key features that major fire alarm lack.
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For instance, on Sept.27, 2022, LMT, a Latvian mobile innovator & IT company, launched a cellular-connected smoke and air quality sensor. The all-in-one device combines smoke and carbon monoxide (CO) detection with air quality monitoring. The IoT-powered smoke and air quality sensor is developed in collaboration with MikroTik, a connectivity technology manufacturer.
LMT's device measures air temperature & humidity and detects smoke and CO threats. It calculates the air quality based on present VOCs monitored on the device's dedicated mobile app. This new device is designed to run on the latest NB-IoT and LTE-M networks to ensure a longer lifecycle. Its cellular connectivity aspect provides heightened stability compared to Wi-Fi-based alternatives currently trending in the market.
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