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Kenneth Research, in its repository of market research reports, has recently added a report on Laser Smoke Detector Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Laser Smoke Detector Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Laser Smoke Detector Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market Synopsis
The global laser smoke detector market was valued at USD 0.67 billion in 2017 and is expected to reach USD 1.04 billion by the end of the forecast period with a CAGR of 8.2%.The growing adoption of smart homes and connected devices has increased the demand for smoke detectors in residentials and industrial properties. This is owing to the growing concerns towards fire safety regulations being adopted in enterprises and homes. The laser smoke detectors generally comprise a sensor, control unit, a system for interaction and an alarm system to alert the end-user. A combinations of these components is used to gater the information, analyze it, and subsequently manage the property in case of harards.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Communication is an important aspect in terms of alerting the user. The connectivity of smoke detectors and end-user application is through either Wi-Fi, Bluetooth, or Zigbee wireless standards.
The major factor contributing towards the growth of laser smoke detector market is its accuracy, and lower power consumption ability. Moreover, the increasing adoption of IoT and connected devices in homes and industries is helping the adoption of laser smoke detectors. The market is expected to observe various opportunities in inclination towards smart buildings. However, the high cost of installation and maintenance of these smoke detectors may hamper the market growth.
Segmentation
The global laser smoke detector market is segmented into connectivity, service, power source, end-user and region.
By connectivity, the global laser smoke detector is segmented into Wi-Fi, Bluetooth, Zigbee, and others.
By service, the global laser smoke detector is segmented into testing & inspection service, installation service, and maintenance & replacement service.
By power source, the global Laser smoke detector is segmented into hard-wired, and battery powered.
By end-user, the global laser smoke detector is segmented into residential, industrial, and commercial.
By region, the laser smoke detector market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
Regional analysis
The global market for laser smoke detector is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of Laser smoke detector market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Among the regions mentioned above, North America is expected to dominate the laser smoke detector market. This dominance is due to the early adoption and safety measures towards fire hazards, especially in the US. The residents in the US are highly adopting laser smoke detectors as these can be controlled by any smart device. the US is working over creating a highly developed infrastructure and with rapid upsurge in smart home technology, the sales of laser smoke detector is also increasing.
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Global Laser Smoke Detector Market, USD Billion
Source: MRFR Analysis
Key Players
The key players in the laser smoke detector market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are—Samsung Electronics Co. Ltd (South Korea), Roost Inc. (US), Huawei Technologies Co. Ltd (China), BRK Brands Inc. (US), Honeywell International Inc. (US), AMP Security (US), United Technologies Corporation (US), Birdi (US), Leeo Inc. (US), Ornicom (Belgium), and System Sensor (US).
Apart from the top key players, the other players contribute nearly 30–35 % in the Laser smoke detector market. These include Netatmo (France), Elgato (Germany), Universal Security Instruments Inc. (US), Gentex Corporation (US), UIC Corporation (US), Hanwei Electronics Group Corporation (China), Xtralis Pty Ltd (Ireland), Erlab (US), Lowe's Companies Inc, (US), The Crow Group (Israel), Nietzsche Enterprise Co. Ltd (Taiwan), Full Enterprise Corp. (Taiwan), Heiman Co. Limited (China) and others.
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Intended Audience
Original design manufacturers (ODMs)
Original equipment manufacturers (OEMs)
Distributors and resellers
Research organizations
Government Agencies
Service/Solution Providers
Consulting Firms
System Integrators
Research Institutes and Organizations
Laser smoke detector Vendors
About Us
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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