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
“Services are experimenting with a variety of business models in order to differentiate themselves in this crowded market dominated by Netflix, Hulu, and Amazon. Smaller OTT companies are experimentin...
Even with solid growth from Apple TV last year, research firm Parks Associates estimated it to be fourth behind Google, Amazon, and Roku in streaming device sales last year. Of the 42 million streamin...
Data from Parks Associates shows that US consumers prefer retailer-based options to general-purpose mobile wallets. These platforms can attract tremendous popularity — Starbucks now processes 25% of i...
Attracting developers to an Alloy ecosystem is important to Intel, said Barbara Kraus, director of research at Parks Associates. "It will broaden the content available to the platform. Intel doesn'...
