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
According to market research firm Parks Associates’ OTT Video Market Tracker service, the churn rate for OTT video services is 19 per cent of US broadband households, indicating roughly one in five ho...
Consumer research from market research and consulting company Parks Associates reveals 29 per cent of US broadband households get most of their news from social media platforms such as Facebook and Tw...
A Parks Associates report finds that makers of smart TVs and streaming media players (SMPs) are shifting strategies to focus on the user experience (UX) as device sales start to flatten out. Accord...
“Today, consumers are satisfied with many of their existing products, provided they are working well,” said Tricia Parks, President, CEO, and Founder, Parks Associates. “Many product categories are fo...
