Residential Smoke Alarm Market to cross USD 2.55 Billion by 2023.

Dallas, United States – June 18, 2018 /MarketersMedia/ —

The global residential smoke alarm market is subject to witness a double-digit CAGR in the forecast period. About 2,000 people in the United States lose their lives due to fire and smoke. A major reason being suffocation and lack of visibility. Therefore, a majority of incidents happen due to inhalation of toxic gases and fumes. Burnt cases are less registered.
Such cases happen only occupants in the house are asleep and unaware of the fire. A smoke alarm works best and around the clock and when it senses a smoke, it sounds an alarm. Dual sensor detects the smoke spontaneously. According to the NFPA report, residential casualties have decreased in 2017 representing an overall growth of 58% in the last three decades. In the international market, dual sensors register a significant market share resulting in a strong market demand for dual sensors smoke detectors.

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The residential smoke alarm market is driven by factors such as rise in urban population resulting in demand for smart homes and better indoor infrastructure. Rise in casualties and deaths due to residential fire and smoke contributes to the market development. In addition, novel devices doled out by manufacturers coupled with availability of smoke detectors at a reasonable price is likely to propel the market growth in the forecast period.
Residential smoke alarm market is segmented based on type, mechanism and geography. Residential smoke alarm market by type includes photoelectric detectors and inonization detectors. Photoelectric detectors are likely to dominate the market growth accounting for a higher market share. Mechanism category is segmented into battery powered, hadwired with battery and hardwired without battery. Hardwired with battery accounts for a higher market share in the global market due to rising demand.

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Geographical segmentation for residential smoke alarm market includes North America, Latin America, Europe, South East Asia, Middle East and Africa. North America followed by Europe is anticipated to rise at a staggering CAGR in the forthcoming period.
Key players in the residential smoke alarm market include Hochiki Corporation, Honeywell International, United Technologies Corporation, Tyco, Siemens AG, Johnson Control, Robert Bosch, NEC Corporation, Nest labs, Schneider Electric.

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