(MENAFN- EIN Presswire)
Smart fire alarm technologies have innovated the fire safety field in terms of performance with the inclusion of AI for accuracy in detection and IoT.
ROCKVILLE, MD, UNITED STATES, January 16, 2025 /EINPresswire / -- According to Fact, a
market research and competitive intelligence provider, the global smart fire alarm market is estimated to reach a valuation of US$ 22.9 billion in 2024 and is expected to grow at a CAGR of 7.1% during the forecast period of (2024 to 2034).
Smart fire alarms have significantly changed the fire and life safety landscape by adding sophisticated technology that give greater functionality and dependability than traditional systems. These alarms include IoT connectivity, which allows users to get real-time warnings and notifications via mobile apps independent of their location. The combination of artificial intelligence (AI) and machine learning enhances their ability to discern between true fire risks and false alarms, hence reducing undesired disruptions. These alarms may also link with other smart home gadgets, like thermostats, lighting, and security systems, to establish a complete safety network that automates actions in emergency situations.
Technological improvements like Wi-Fi and Bluetooth connectivity allow simple remote monitoring, remote firmware updates, and maintaining a system without physical interventions. This keeps the alarms updated with the newest safety features, increasing their reliability and performance.
For More Insights into the Market, Request a Sample of this Report:
Smart fire alarms are poised to become essential in every home, fuelled by growing consumer awareness, urban development, and the embrace of smart home technologies. Due to tighter safety regulations and an increasing demand for automated, remote-controlled systems, the smart fire alarm market is expected to continue its growth. Improved connectivity and AI-powered advancements will further enhance these systems, establishing them as vital safety instruments in residences and enterprises.
Key Takeaways from Market Study
The global smart fire alarm market is projected to grow at 7.1% CAGR and reach US$ 45.5 billion by 2034 market created an opportunity of US$ 5.5 billion growing at a CAGR of 6.1% between 2019 to 2023.
North America is a prominent region that is estimated to hold a market share of 24.3% in 2034 market players include Bosch Sicherheitssysteme GmbH, and Honeywell HBT.
Smoke detectors under product type are estimated to grow at a CAGR of 7.2% creating an absolute $ opportunity of US$ 12.6 billion between 2024 and 2034 America and East Asia are expected to create an absolute $ opportunity of US$ 14.4 billion collectively from 2019-2034.
“The requirement of smart fire alarms has increased tremendously, as real-time notifications, integration into home automation systems, and pre-emptive monitoring offer an incredible boost toward safety in the contemporary worlds of homes and businesses” says a Fact analyst.
Market Development
Firms producing smart fire alarms are diligently competing for market share by utilizing various strategies focused on differentiation and expansion. Crucial tactics involve technological advancements, enabling manufacturers to incorporate cutting-edge elements such as AI-based smoke detection, immediate notifications, and smart home compatibility. These characteristics improve user convenience and attract consumers who value safety and automation. Firms aim to expand their distribution avenues, collaborating with home security companies, retailers, and online platforms to guarantee greater accessibility.
Branding and marketing are crucial, as companies highlight the significance of fire safety in relation to today's smart home technology. Providing attractive pricing options and additional services like extended warranties or complimentary installation appeals to cost-sensitive consumers while strengthening the value proposition.
To distinguish themselves in the market, businesses can adopt distinctive strategies. For instance, providing customized services or intelligent fire detectors with sophisticated analytics, which may assist homeowners in monitoring safety patterns and obtaining personalized suggestions for enhancing home safety. Partnering with insurance companies to provide discounts for customers utilizing smart fire alarms could promote their adoption. Designs centered on sustainability, like those utilizing environmentally friendly materials or energy-efficient solutions, might also attract environmentally aware consumers. Delivering outstanding customer service, featuring around-the-clock access to a fire safety expert, can foster trust and loyalty.
Category-Specific Perspectives
From 2024 to 2034, the demand for smart fire alarms with Wi-Fi is expected to grow at a compound annual growth rate (CAGR) of 6.8%. For smooth and simple firmware updates or system maintenance to maintain continued operation, Wi-Fi connectivity is essential in smart smoke alarms.
Manufacturers may remotely update the firmware for fire alarm systems over Wi-Fi, addressing vulnerabilities, adding features, or enhancing performance without requiring a human presence. It also reduces operating costs and increases user convenience by doing away with the requirement for technician visits or manual upgrades.
Wi-Fi connectivity not only enables firmware upgrades but also continuous system monitoring, enabling proactive maintenance. Manufacturers are able to remotely detect issues such as dead batteries or malfunctioning sensors and promptly alert consumers.
Get Customization on this Report for Specific Research Solutions:
Country-specific Perspectives
The US market is expected to reach US$2.4 billion in 2024 and grow at a compound annual growth rate (CAGR) of 7.5% until 2034. From 2024 to 2034, this market is expected to create an absolute potential worth US$2.6 billion.
The use of smart fire alarms in the US increased as a result of state or family incentives. Governments encourage customers to buy energy-efficient and safety gadgets by offering laws and programs like tax credits and rebates.
Many companies and homes can now afford smart fire alarms thanks to this type of incentive, which decreases their initial costs. As part of a larger plan, several states passed special laws that promote the use of smart home appliances, such as fire alarms.
Explore More Studies Published by Fact Research:
Light Controller Market It is projected that the worldwide light controller market will be valued at US$25.49 billion in 2024 and grow at a compound annual growth rate (CAGR) of 15.5% to reach US$107.86 billion by 2034.
Location-Based VR Entertainment Market The global location-based VR entertainment industry is expected to grow at a high-value compound annual growth rate (CAGR) of 27.1%, from a 2024 valuation of US$ 3.89 billion to a 2034 valuation of US$ 42.86 billion.
About Us:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : ...
S. N. Jha
Fact
+1 628-251-1583
email us here
Visit us on social media:
X
LinkedIn
YouTube
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN16012025003118003196ID1109096931
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.