Market Analysis 

The smart smoke detector market will touch USD 1,533 million at an 8.2% CAGR between the forecast period 2017- 2023, states the recent Market Research Future (MRFR) analysis. A smart smoke detector, simply put, has four compartments- alarm system, communication system, processing unit, and sensors. The sensor helps to monitor the air in the environment and also detect smoke particles that can cause hazardous situations through the smart smoke alarm. These security systems have wide commercial, industrial, and residential applications. 

Various factors are propelling the global smart smoke detector market share. According to the recent MRFR market estimates, such factors include growing concerns about fire safety, rising adoption of smart devices, increase in fatal injuries in industrial premises and commercial buildings, the inclination of customers towards smart buildings, and adoption of IoT and connected technologies. Additional factors adding market growth include constant technological advances to overcome the demerits of traditional or conventional smoke detectors, plentiful benefits such as push notification, smart security, convenience and safety, and need for advanced infrastructure in industrial, commercial, and residential sectors. 

On the contrary, the high cost incurred in its deployment and the COVID-19 impact may deter the global Smart Smoke Detector Market growth over the forecast period. 

Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global smart smoke detector market based on type, service, power source, connectivity, and end user. 

By type, the global smart smoke detector market is segmented into laser smoke detector (LSD), aspirating smoke detector (ASD), dual sensor detectors (CO and CO2), photoelectric detectors, and network ionization detectors. Of these, photoelectric detectors will lead the market over the forecast period. 

By service, the global smart smoke detector market is segmented into maintenance and replacement services, installation services, testing and inspection services, and others. Of these, the maintenance and replacement services segment will dominate the market over the forecast period. 

By power source, the global smart smoke detector market is segmented into battery-powered smoke detectors and hard-wired smoke detectors. Of these, the battery-powered smoke detectors will dominate the market over the forecast period. 

By connectivity, the global smart smoke detector market is segmented into ZigBee, Bluetooth, Wi-Fi, and others. 

By end user, the global smart smoke detector market is segmented into commercial, industrial, and residential. Of these, the commercial segment will spearhead the market over the forecast period. 

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Regional Analysis:

North America, with robust investment support and infrastructural superiority, is expected to control the global market. Research and development funding is also going to play a crucial role in the rise of this regional market.

Competitive Landscape:

The global smart smoke detector market is getting backed by the strategic moves of companies like Samsung Electronics Co. Ltd (South Korea), Nest Labs (US), Huawei Technologies Co. Ltd (China), Roost Inc. (US), AMP Security (US), United Technologies Corporation (US), BRK Brands Inc. (US), Honeywell International Inc. (US), Netatmo (France), Elgato (Germany), Birdi (US), Leeo Inc. (US), Gentex Corporation (US), UIC Corporation (US), Universal Security Instruments Inc. (US), Xtralis Pty Ltd (Ireland), Hanwei Electronics Group Corporation (China), The Crow Group (Israel), Nietzsche Enterprise Co. Ltd (Taiwan), Erlab (US), Lowe's Companies Inc.(US), Heiman Co. Limited (China), Full Enterprise Corp. (Taiwan), and others.

Industry News:

In September 2020, Hikvision, a known name in the smart smoke detector market for its IoT solutions with video as its core competency, announced the launching of its new generation of wireless alarm systems - the AX PRO. The device is expected to deliver comprehensive alarm solutions for various residential and commercial applications. This new product  includes a compact panel hub that would serve a wide range of detectors and peripherals, including flood detection, intrusion detection, smoke detection, video verification, and home automation. The product has been developed keeping in mind the needs of both the installer and user, and it can be configured as per the demand. With minimal installation complexity, it is expected to reduce hassles regarding installation for end users. It also guides the user with intuitive user interface. The AX PRO hub backs protocols for wireless integration, and welcomes the connection of up to 210 peripherals. The panel has dual RF (radio frequency) chips, and it displays Tri-X and CAM-X wireless technologies to prevent any kind of interference across channels and improve high speed and better transmission of alarm messages.

The global smart smoke detector market size is expected to get affected by the COVID-19 crisis like many other industries. Supply and manufacturing of products got badly affected by the pandemic owing to which this industry can suffer.

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