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
Netflix had been considered relatively immune to price increases because a high percentage of its customers say they are very satisfied with the service. Just 9 percent of Netflix's customer base had...
Some homes will be getting smart and others won’t. The latest forecast of North American broadband households shows that half of them will be smart homes within four years. Of course, this means...
This has potential implications for marketers, since advertising is more likely going to travel directly through car screens and speakers rather than through smartphones. Location added to the mix of...
Meanwhile, in a similarly unsettling development for Apple, the company appears to be playing catch-up in an area it has long dominated: mobile hardware. As Amazon’s Echo continues to gain traction --...
