Parks Associates’ newly released report, Smart Smoke and CO Detectors: Market Assessment 2024 reveals smart smoke/CO detectors generated $771 million in revenue in the U.S. in 2023, with growth projected to reach $976 million by 2027.
Despite this more negative trend data, the intent to purchase is trending up again. “Like other smart home products, smart smoke/CO detectors experienced a new level of growth during the pandemic, when home renovations were on the rise and personal care and safety were top-of-mind,” says Jennifer Kent, VP of Research for Parks Associates. “While some of these drivers have subsided, moving and renovations remain prime factors to prompt these product purchases. Winning strategies will target consumers at these times, with messaging highlighting the benefits along with the ease of installation when improving your home or moving into a new one.”
“There is ample opportunity to grow across sales channels with offerings that show value by integrating into whole-home ecosystems and through partnerships and bundles that offer more at a competitive price,” Kent says.
From the article, "The Smart Money: Smart Smoke/CO Detection on the Rise" by Elizabeth Parks
In January, Jennifer Kent, connected car analyst for Parks Associates, said we may also be nearing connectivity in cars that would support video streaming. She projected it would take three to five ye...
Unsurprisingly, Amazon has never announced a specific figure for Prime Music listeners, although the company’s digital music boss Steve Boom said last year that “Prime Music has several million people...
According to research firm Parks Associates, smartphone owners spend more time per day listening to music on their device compared to other major entertainment activities, and 68% of smartphone owners...
According to a report published by Parks Associates, there is a dark horse in the streaming market: Amazon Prime Music. The company's senior analyst says, "Nearly one-half of streaming music subscribe...
