Register

I agree with the Privacy Policy

In The News

The Smart Money: Smart Smoke/CO Detection on the Rise

April 17, 2024

home automation

smoke detectors

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.

smart_smoke_chart

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

Previously In The News

A scan of new data from around the world

According to Parks Associates' research, 72% of non-pay-TV subscribers subscribe to an OTT video service, which is their primary source for content. Just less than half of broadband households in the...

Password Sharing, Piracy Will Cost Streaming Companies $12.5B By 2024 – Report

New research by streaming tracker Parks Associates predicts the amount of revenue lost to piracy and password sharing will increase 38% to $12.5 billion over the next five years. While it is seldom...

Malvern-Based Home Automation Firm Bets Big On Europe

Smart-home technology is building quickly to a multi-billion-dollar business in Western Europe, say market researchers at Parks Associates, and the Malvern-based "Internet of Things" platform develope...

mHealth Study: Caregivers Want Medication Management Help

A study by Parks Associates finds that 11 percent of today’s caregivers are using mHealth tools that feature medication lists and reminders. However, that same study found that 27 percent of caregiver...

‹
1
2
...
268
269
270
271
272
273
274
...
735
736
›