According to the recent study the commercial fire detector market is projected to reach an estimated $2.90 billion by 2028 from $1.97 billion in 2023, at a CAGR of 8% from 2023 to 2028. Growth in this market is primarily driven by growing need for fire detectors in commercial spaces and business facilities to ensure the safety of employees, customers, and buildings in case of any fire emergency.
A more than 150 – page report is developed to understand trends, opportunities and forecast in commercial fire detector market by product (smoke detectors, heat detectors, carbon monoxide, and others), technology (ZigBee, Wi-Fi, Wired, LoRaWAN, Z-Wave, satellite, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Wired market is expected to remain the largest segment during the forecast period.”
Based on technology, the commercial fire detector market is segmented into ZigBee, Wi-Fi, Wired, LoRaWAN, Z-Wave, satellite, and others. Lucintel forecasts that the wired market is expected to remain the largest segment due to significant use of these detectors in commercial settings as they offer superior network reliability and stability.
“Within the commercial fire detector market, the smoke detectors segment is expected to remain the largest product”
Based on product the smoke detectors segment is expected to witness the highest growth over the forecast period due to the rise in number of smart factories and cities and introduction of technological advanced products with longer life span and better cost efficiency.
“Asia pacific will dominate the commercial fire detector market in near future”
APAC will remain the largest region due to the increasing investment in infrastructural development and growing number of commercial projects in the region.
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Major players of commercial fire detector market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Honeywell, Johnson Controls, Hochiki, Academy Fire, and Fike are among the major commercial fire detector providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/commercial-fire-detector-market.aspx or [email protected]