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
That over-the-top services (OTT) now permeate the mainstream is beyond doubt, but OTT really hit the gas over the last 12 months says research by Parks Associates. The OTT Playbook, Part II: Keys t...
"For both flat-panel purchasers and the sub-group of 4KTV purchasers, 44% made the purchase after seeing the product for a good price, so the major purchase motivator for flat-panel and 4KTVs was not...
Unlike Japan consumer adoption of 4K TVs in China is expected to be relatively high, with household penetration reaching 24% in 2019. In other emerging countries, where many households either have sma...
Loyalty is the name of the game for places like Netflix and Hulu going forward, Callahan says. “It’s much easier to keep a customer than acquire a new one,” he explains. High turnover has been one...
