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
A May study from Parks Associates showed out of 43% of U.S. households that have streamed live content in the past three months, 61% recently watched a live sporting event. Paul Erickson, director of...
Did you know that currently, 33% of broadband households have a security system with professional security monitoring? Join leading industry executives and analysts at Parks Associates’ interacti...
Join Parks Associates’ Jennifer Kent, VP of Research and Chris White, Senior Analyst, for an interactive in-person session, on Thursday, September 29 at 11:30 AM and 3:00 PM CT at the 2022 CEDIA Expo...
Parks Associates’ podcast, The Connected Consumer just released a new episode where hosts Chris White and Rosey Ulpino Sera dive into hot IoT topics, with guest speaker Rob Conant, VP of Software and...
