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The global smoke detector market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 9% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A smoke detector refers to a smoke sensing device that is employed for an early detection of fire. It mainly consists of two components, smoke sensor and smoke alarm that alerts people when the sensor detects the smoke. The device is cost-effective, easy to install, and prevents the risk of fire accidents. Owing to this, smoke detectors are widely installed in commercial buildings, residential spaces, industrial hubs, and other public places.
Various factors, such as rapid urbanization, growing infrastructural investments, and increasing consumer awareness, particularly across emerging economies, have propelled the demand for smoke detectors. Moreover, the prevalent trend of digitalization, coupled with increasing penetration of IoT-enabled devices, has led to the introduction of smart smoke detectors globally. Additionally, the introduction of several government initiatives for curbing fire accidents, along with the rapid construction of data centers, IT hubs, and smart buildings, will continue to bolster the growth of the global smoke detector market in the upcoming years.
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The competitive landscape of the industry has also been examined with some of the key players being Hochiki Corporation, Honeywell International, United Technologies Corporation, Siemens AG, Johnson Control, Robert Bosch, etc.
Key Questions Answered in This Report:
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