The current trend in the global smoke alarm market is a smart smoke alarm. A smart smoke alarm is a more modern type of smoke alarm that detects smoke and alerts the user via smart devices such as smartphones, computers, tablets, and others via cellular connectivity or Wi-Fi. Stringent government regulations concerning smoke alarms, as well as rising demand for smoke detectors in the residential segment, are market drivers. The only constraint in the market is the high startup expenses. To limit the spread of COVID 19, several market participants stayed functioning, with fewer employees working on the factory floor and the remaining ones working from home, manufacturers' output capacity was reduced.
According to Coherent Market Insights, the global Smoke Alarms Market was valued at US$ 1,833.3 Mn in 2019 and is expected to reach US$ 3,315.4 Mn by 2027 at a CAGR of 8.5% between 2020 and 2027.
Top Companies in the Smoke Alarm Industry:
1. Panasonic Corporation
Panasonic Holdings Corporation, together with its subsidiaries, develops, manufactures, sells, and services various electrical and electronic products worldwide. It operates through Appliances, Life Solutions, Connected Solutions, Automotive, and Industrial Solutions segments. Panasonic Holdings Corporation was founded in 1918 and is headquartered in Kadoma, Japan. On May 2022, Panasonic helps in the upgrading of Helsinki Olympic Stadium’s fire alarm system
2. Hochiki Corporation
Hochiki Corporation engages in the research and development, manufacture, sale, consulting, engineering, design, and maintenance of fire alarm, smoke control, fire extinguishing, network, and security systems in Japan and internationally. Hochiki Corporation was incorporated in 1918 and is headquartered in Tokyo, Japan. On October 2020, Hochiki released a new Conventional Duct Smoke Detector (DH-100-P).
3. Honeywell International, Inc
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. The company was founded in 1885 and is headquartered in Charlotte, North Carolina.
4. United Technologies Corporation (UTC)
United Technologies Corporation (UTX), or UTC, is a global provider of high technology products, services, and systems. The company caters primarily to the building systems, security, and aerospace industries. The company was founded in 1934, headquartered in Connecticut, U.S. on Nov 2021, H.I.G. Capital Portfolio Company United Flow Technologies Acquires Tesco Controls and The Henry P. Thompson Company
5. Nest Labs
Google stated to buy Nest Labs, maker of high-tech smoke alarms and thermostats, for $3.2B on January 2014. Nest Labs is based in Palo Alto, Calif. It was founded in 2010
6. Universal Security Instruments, Inc.
Universal Security Instruments, Inc., together with its subsidiary, designs, markets, and distributes safety and security products for use in homes and businesses in the United States and internationally. The company was founded in 1969 and is headquartered in Owings Mills, Maryland.
7. Busch-Jaeger
Busch-Jaeger stays abreast of the technological trends in offering a complete range of electrical installations for building automation. The company was founded in 1897, headquartered in Germany.
8. Hekatron Vertriebs GmbH
Hekatron operates multiple businesses that involve fire protection, material management, manufacturing electronics products & its services. The company was founded in 1963, headquartered in Germany.
*Definition- A smoke alarm is an electronic fire-protection device that detects smoke and alerts people with a warning sound, therefore reducing life and economic loss caused by fire.
