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
The sharing of streaming video subscription passwords became a laughing matter during last week's Emmy Awards, but the funny business could eventually become a problem for video providers. Credenti...
Although Internet-connected home appliances aren't widespread yet, adoption is set to take off this year, according to research from Parks Associates. According to the firm, 40% of broadband household...
Many consumers who own or plan to buy a smart watch will use it to control smart-home devices, a Parks Associates survey found. More than one in five U.S. broadband households that own or plan to b...
A total of 21 percent of U.S. broadband households with at least one Internet-connected CE device use a streaming-media player as their primary platform for streaming online video, up from the year-ag...
