Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Smoke detector is an electronic device used to combat the fire by sensing and gives indication of incidence of smoke. Based on the technology used in the smoke detectors, the market can be segregated into ionization detectors and photoelectric detectors. Majorly, the smoke detectors are consumed by the real estate sector; commercial, residential and institutions being the biggest consumer.
The global smoke detector market is estimated to grow from USD 1.36 Billion in 2015 to USD 2.31 Billion by 2021, registering a compound annual growth rate (CAGR) of 5.22 % during 2015- 2021.North America smoke detector market is anticipated to grow at a healthy pace; U.S. smoke detectors market has held the highest market share in comparison to other countries in this region.
Asia Pacific region is projected to overtake North American smoke detector market in the anticipated period i.e. 2015-2021. China, India, Singapore and New Zealand smoke detector market is likely to witness maximum growth in near future.
Europe smoke detector market is expected to grow at faster rate owing to increasing spending on infrastructure by enterprises in the upcoming years. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Based on the product type, the global smoke detector market is segmented into:
Depending upon the Power Source, the global smoke detector market is divided into:
On the basis of Services, the global smoke detector market is studied into:
While drilling the industry by End-User, the global smoke detector market can be defined into:
On the basis of region, the global smoke detector market is segmented into:
Continuous innovation in smoke detector technology and their networking, emergent initiatives taken by the governments across the globe, rising expenditure on fire protection devices etc. are some of the major driving factors of smoke detector market in the coming years.
In addition to that, intensification in injuries and deaths owing to fire in the commercial and domestic building are the major cause to uplift the demand of global smoke detector market.
High installation cost and annual maintenance charges, stringent government regulation for fire prevention, un-organized market etc. are few of the major challenge faced by the global smoke detector over the forecasted period i.e. 2015-2021.
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