Smoke Detector Market to grow at a CAGR of 10.32% between 2015 and 2021

NOIDA, India - Dec. 15, 2016 - PRLog -- Knowledge Sourcing Intelligence announces the publication of a new report "Smoke Detector Market - Forecasts from 2016 to 2021 " to their offering. The report has segmented the Smoke Detector Market by Power Source (Hardwired with battery backup, Battery powered, and Hardwired without battery backup), by Product Type (Ionization smoke detector, Photoelectric smoke detector, Dual Sensor smoke detector and others), by Industry Vertical(Infrastructure, Travel and Transport/Logistics, Energy and power, Oil and Gas, Manufacturing, Communication and Technology and Others) by geography (Americas, Europe Middle East and Africa, and Asia Pacific).The report analyzed the global smoke detector market which is anticipated to grow from US$1.074 billion in 2015 to US$1.936 billion by 2021, at a CAGR of 10.32% over the forecast period.

The market for Smoke Detector has been significantly driven by increasing residential building construction activities worldwide owing to growing global population. The latest trend of integrating security solution and building management to enhance the performance and reduce installation cost of the system propels the need for Smoke detectors by construction companies. Moreover, growing concern for the loss of property and life in fire accidents further drives the demand for smoke detectors in industrial units.Factors such as an increase in expenditure of safety solutions by enterprises and government regulations such as mandating installation of smoke detectors in residential and commercial buildings are further contributing to the growth of global smoke detector market during the forecast period.

Photoelectric Smoke Detector accounts for the highest share during projected period.

Photoelectric Smoke Detectors accounted for the highest share in the year 2015 and is expected to dominate the market during the forecast period, owing to higher accuracy of these type of detectors. Growing concern regarding workers' safety is driving the growth of this segment as it responds faster to fire in its early smoldering stage which prevents the loss of life and property to a high extent.

Europe will witness the fast regional market growth during projected period.

Europe is expected to witness a high demand for smoke detectors due to policies being adopted by the various governments in the region. Stringent government regulations have mandated the installation of smoke detectors even at homes. Moreover, growing concern about aging infrastructure further drives the need for smoke detectors in public buildings.

The key players of global Smoke Detector Market covered in this report include Honeywell, Robert Bosch, Tyco, Johnson Controls, Siemens, and Schneider Electric among others.

This report contains the market analysis on the current trends in the Smoke Detector Market and the opportunities for the vendors over the next six years. It provides deep insights into the drivers and restraints of the industry. Smoke Detector Market report also consists of in-depth regional analysis. A lot of statistically relevant tools and detailed industry analysis models such as scenario analysis have been used to forecast the market trends and forecasts up to the year 2021.

The report also talks about the strategies adopted by the industry leaders to gain an advantage over competitors and the recent deals that they have gone into to position themselves better in this market.

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