Global Residential Smoke Detectors Market Research and Forecast 2018-2023

Global Residential Smoke Detector Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023

Smoke detector Market, detector is a device equipped with a sensor to sense smoke and gives indication of fire. Smoke can be detected by two processes: optical and by physical process. The detectors that use optical method is photoelectric detector and those detectors that use physical process are ionization detectors. There are detectors that utilize both methods. According to the US National Fire Protection Association, around 5 deaths per 1000 homes were reported in homes with working smoke alarms in contrast to the 12 deaths in homes without smoke alarms. Smoke detectors have significantly declined the rate of fatalities caused due to fire.

Rapid urbanization across the globe boosts the residential smoke detectors market. According to the United Nations (UN), around 3.8 billion people (54% of the population) were living in urban areas in 2014, which is estimated to increase to 6 billion people (66%) by 2050. Other factors contributing to the growth of the market include cohesive government policies, initiatives and projects in favour of smoke detectors; increasing adoption of smart home and smart home security; and advancement in technology. Apart from these, rising IoT market will have a significant impact on the growth of market during the forecast period.

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The global residential smoke detector market is analyzed on the basis of geographical regions that contribute significantly towards the growth of the market. North America is estimated to be the dominating region in the global residential smoke detector owing to supportive government regulations for mandatory installation of smoke detectors in buildings. Whereas, Asia Pacific is estimated to be the fastest growing region during the forecast period. Increased urbanization is one of the major factors that is driving the growth of the residential smoke detectors market in the region. The companies operating in global smoke detectors market include Apollo fire detectors, Detector Electronics Corporation, Gentex Corporation, Honeywell Security, Siemens AG, United Technologies Corporation and Nest Labs Inc.

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Research Methodology:

The market study of residential smoke detector market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The OMR team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country level analysis is provided by analysing various regional players, regional tax laws and policies, consumer behaviour and macro-economic factors. The numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analysts to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts to get first-hand information. Primary research brings authenticity to our reports.

Secondary sources include:

Financial reports of companies involved in the market
Whitepapers, research-papers and news blogs
Company websites and their product catalogue

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