Technavio has published a new report on the global gas detector market from 2017-2021. (Graphic: Business Wire)Technavio’s latest market research report on the global gas detector market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The innovation in technology leading to product premiumization will fuel the growth of the market. The vendors are introducing innovative technologies that include portable gas detectors, which are easy to use and calibrate. These gas detectors are made for detecting more than two toxic gases such as hydrocarbons, hydrogen sulfide, CO, and SO2.
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The top three emerging market trends driving the global gas detector market according to Technavio research analysts are:
- Increase in demand for smart gas detectors
- Gas detector manufacturers collaborating with insurance companies to offer discounted home insurance policies
- Rise in availability of high sensitivity gas detectors
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Increase in demand for smart gas detectors
The advancement in technology, including AI and Internet of things (IoT), is propelling the increasing demand for smart gas detectors. Smart gas detector is gaining traction in the market due to its properties such as low maintenance and additional features that are beneficial for the customers. Companies such as Universal Security Instruments provide a product called USI. It is an electric hardwired 2 in 1 carbon monoxide (CO) and natural gas smart alarm with battery backup. It protects the households from these two gases which are deadly threats to households. Another product includes USI electric hardwired 3 in 1 gas detector. This product offers protection from numerous threats.
According to Tamal Saha, a lead analyst at Technavio for home, kitchen, and large appliances, “Smart gas detector is connected to a smartphone or tablet, which has an Internet connection. Wireless technologies including Wi-Fi and Bluetooth are majorly used for this smart connectivity. A smartphone or tablet operates the smart gas detector through an app installed on the device, and an alert notification is sent to the app. Additionally, it sends the alert notifications to friends and family.”
Gas detector manufacturers collaborating with insurance companies to offer discounted home insurance policies
The numerous insurance companies in the market are giving discounts for any protective system. While looking for saving in home insurance, many house owners choose gas detector, which offers several discounts for insuring home and vehicle under the same company. Consumers can also have the peace of mind that their properties are being monitored 24/7 even if they are away from home.
“Gas detector manufacturers have found the opportunity to tie-up with insurance companies to attract their target audience pool. Nest Labs have partnered with an insurance company called Liberty Mutual and American Family Insurance. Under this agreement, Liberty Mutual provides 5% off on insurance premiums for the Nest protect customers,” says Tamal.
Rise in availability of high sensitivity gas detectors
The companies are introducing innovative concepts, which are making the sensors more efficient in detecting harmful gases. The numerous types of sensors available in the market are photoelectric sensors, electrochemical sensors, and intelligent sensing technology. High sensitivity smoke and CO detectors provide appropriate early warning that enables prompt investigation, action, and control before thoughtful damage. The vendors are also introducing sensors that can detect more than one gas.
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Source:-businesswire
