The global smoke alarm market has been witnessing a steady rise 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. About eighty percent of fire deaths happen due to inhalation of toxic smoke. Smoke detectors sense smoke early and warn occupants with a loud siren to save them from being intoxicated by smoke.
The smoke alarm market is projected to witness increasing traction worldwide in the years to come. According to Market Research Future (MRFR), the global smoke alarm market is expected to garner exponential revenues by 2027, registering a staggering CAGR throughout the forecast period (2020-2027). Besides, the range of benefits that fire alarms offer, such as précised smoke detection and easy installation, boosts market share.
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 market growth. Nevertheless, rising government funding for free distribution and incentives to motivate manufacturers would support the market growth throughout the assessment period.
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Global Smoke Alarm Market – Segmentations
The smoke alarm (smoke detector) market is segmented into sensor technology, power backup, end-users, and others. The sensor technology segment is sub-segmented into ionization smoke alarms, photoelectric smoke alarms, combination/dual sensor smoke alarms, and others. The power backup segment is sub-segmented into battery-powered, hardwired & hardwired with battery backup, and others.
