The global Residential Sensors market is anticipated to grow significantly at a CAGR of 5.0% during the forecast period. A smoke detector is a gadget having a sensor that detects smoke and alerts the user to a fire. Smoke can be detected using two methods: optical and physical. Photoelectric detectors use an optical mechanism, while ionization detectors employ a physical process. Both strategies are used by some detectors. According to the National Fire Protection Association of the US (NFPA) in 2019, there were around 5 deaths per 1000 houses in homes with functional smoke alarms, compared to 12 deaths in homes without smoke alarms. The usage of smoke detectors has considerably reduced the number of people who have died as a result of a fire.
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Furthermore, the market for residential smoke detectors is boosted by rapid urbanization around the globe. According to the United Nations (UN), over 3.4 billion people (55% of the population) lived in urban areas in 2018, with this number expected to rise to around 5.9 billion people (68%) by 2050. Cohesive government regulations, efforts, and projects in favor of smoke detectors, rising acceptance of smart home and smart home security, and technological advancements are all contributing to the market’s growth. Aside from these factors, the growing IoT industry would have a substantial impact on market growth over the projection period. However, the high initial installation cost is one of the primary factors that is expected to stifle market expansion.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Residential Smoke Detectors Market Report Segment
By Type
- Photoelectric Smoke Detectors
- Ionization Smoke Detectors
- Dual Sensor Smoke Detectors
- Optical Sensor Smoke Detectors
By Powered Source
- Battery Powered
- Hardwiring
Global Residential Smoke Detectors Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Residential Smoke Detectors market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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