Smoke Detector Market Forecast: Size, Share, and Industry Insights
With a compound annual growth rate (CAGR) of 8.2%, the worldwide Smoke Detectors Market Size is expected to grow significantly, from USD 2.3 billion in 2022 to an estimated USD 3.4 billion by 2027. This increase is due to a number of things, such as rising public knowledge of fire safety precautions, strict government laws requiring smoke detectors to be installed in both residential and commercial buildings, and improvements in detecting technology. The industry is expanding in part because smart houses and buildings with cutting-edge fire safety systems are becoming more and more common. The increased requirement for safety in a variety of industries, including manufacturing, hospitality, and healthcare, where fire detection systems are essential for guaranteeing the protection of occupants and property, is driving rising demand for smoke detectors. The market for smoke detectors is anticipated to rise steadily as urbanisation continues to pick up speed around ...