Market Highlights
Smoke Detector market worldwide is projecting to gain traction and high growth aspects following some key factors that are influencing the market to a great extent. The study portrayed that rising concerns towards fire safety regulations coupled with a boom in the adoption of smart homes has drastically changed the way the smoke detector market's growth was on the move for the last five years. Residential areas are now equipped with connected devices that have significantly increased the demand for it in more smart homes as well as industrial properties. These factors have been noticed to be the key factors leading the market with substantial worth grossing in the current years.
The Global Laser Smoke Detector Market Analysis to 2023 is an in-depth study of the information and communication technology industry with a special focus on global laser smoke detector market 2020's trend and analysis. The study has conducted by Market Research Future. In essence, the report suggests that the worldwide laser smoke detector market marked its valuation worth USD 0.67 billion in 2017, which is proven to go extra numbers high worth USD 1.04 billion by the year-end of 2023. While talking about assessment, the market is also anticipated that this valuation could occur at a growth rate of 8.2% from 2018 to 2023 (forecast period).
The ability of the sensors, control unit and a system for interaction with an alarm system has attracted many end-users. Thus, the demand created among them has impacted the market with a considerable push, which leads to a bright future in the forecast period. With this, continuous technological advancements in order to overcome the disadvantage of conventional or traditional smoke detectors have also somehow impacted the growth pattern of the market. Additionally, the demand for the advanced infrastructures in commercial, residential as well as industries has eventually facilitated the market players in the laser smoke detector market to increase their sales year by year. This has resulted in the market score extraordinarily at the global level.
Some more impactful factors leading the laser smoke detector market's growth are directed towards its ability in the consumption of lower power and accuracy. The study also highlights the fact that the global laser smoke detector market is concentrated large number of well-established players and companies offering the products at a very competitive price, which is also helping the market to grow at a global level. Thus, the entry of new players has propelled the growth of the worldwide laser smoke detector market significantly and made possibilities of the market's wide expansion in the coming years.
On the contrary, the factors of the high cost of installation and maintenance of laser smoke detectors could hamper the market growth in the future.
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Top Companies
The top companies listed in the laser smoke detector market are—Samsung Electronics Co. Ltd (South Korea), Huawei Technologies Co. Ltd (China), Roost Inc. (US), Honeywell International Inc. (US), BRK Brands Inc. (US), United Technologies Corporation (US), Ornicom (Belgium), AMP Security (US), Leeo Inc. (US), Birdi (US), and System Sensor (US).
Regional Framework
Asia-Pacific, Europe, North America, and the rest of the world (includes the Middle East, Africa, and Latin America) are the key regions being studied in the global laser smoke detector market's analysis to understand regional market dynamics.
Representing the developed world, North America will maintain the growth momentum with leading the laser smoke detector market. The leading position is acquired with the early adoption and safety measures taken towards fire hazards, which could be observed in the US. The residents in this region are highly laser smoke detectors users. On such a demand, the US is working over creating more highly technologically influenced smoke detectors for its rising smart home and highly developing infrastructure.
Within Europe, which continues to remain an imperative region in the world economy, Germany will add over US$38.7 Million in the next five to six years in the laser smoke detector market. Over US$33 Million worth of probable demand for smoke detectors in the region will come from the Rest of Europe markets in the forecast period.
The Asia Pacific exhibits an enormous potential to grow in the next couple of years. China exhibits the potential to grow at a 13.2% growth rate and would add almost US$325.2 Million in terms of addressable opportunity the market's expansion along with key leaders.
Segmentation:
As per the study conducted by MRFR's analysts, the global laser smoke detector market has been studied under segmental analysis, which includes connectivity, service, power source, end-user segments.
Depending on connectivity, the market gets segmented into Bluetooth, Wi-Fi, Zigbee, and other segments.
Depending on service, the market gets segmented into installation service, testing & inspection service, and maintenance & replacement service segments.
Depending on the power source, the market gets segmented into hard-wired and battery-powered segments.
Depending on the end-user, the market gets segmented into industrial, residential, and commercial segments.
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