The global smoke alarms market was valued at $1.8 million in 2019 and is expected to surpass $3.3 million by 2027, with a CAGR of 8.5 percent during the forecast period (2020-2027), according to a report published by Coherent Market Insights.
The wireless smoke alarms is expected to have increase in demand by almost 9.4 percent in the forecast year. Wireless interconnected smoke alarms detect and trigger alarms in all units in a connection by using radio frequency signals instead of cables. A false alarm is a major concern in the global smoke alarm market. Therefore, key players in the market are focusing on various technologies in order to prevent false alarms. Adoption of new technologies such as advanced smoke detection sensors, IoT-enabled smoke alarms, cameras and IR sensors to provide accurate results is expected to reduce the chances of false alarm and provide lucrative growth opportunities to the market players.