Smoke Detector Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The smoke detector market is expected to witness a CAGR of 8.3% over the forecast period. The latest trend of IoT-enabled smart smoke-detecting service helps customers to prevent false alarms and offers enhanced security with advanced risk monitoring and instant action in any adversity. Customers can turn off the alarm via their IoT-enabled devices in case of false alarms, and the IoT-enabled system notifies the user about the need to change or replace batteries and other wearables. Also, the amalgamation of smartphones will drive the smoke detector market in the forecast period.
Key HighlightsThe market for smoke detectors is fragmented because of the high level of competition between the players. The vast majority of the players functioning in the global market are taking steps to raise their market footprint by concentrating on product diversification and development. Key players are Honeywell International Inc., ABB Group, and Siemens AG.
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