Parks Associates estimates 15.7 million smart tags will be sold in the US in 2022, rising to 94.9 million in 2027
DALLAS, Aug. 10, 2022 /PRNewswire/ — New research from Parks Associates reports that 95 million smart tags will be sold in the US in 2027, an increase from almost 16 million in 2022, as consumers use these solutions to track valuables, pets, and even other people. Smart Product Market Assessment: Smart Tags, Personal Trackers, and Asset Protection addresses the emerging market for Bluetooth / wireless trackers and analyzes consumer adoption, usage, and attitudes regarding these tracking solutions. The firm’s research shows that in Q1 2022, 8% of US internet households reported owning at least one smart tag and 32% of smart tag owners reported using the device to track another person without that person’s knowledge.
"The smart tag market is only beginning and has the potential to move into new use cases as consumers become more creative with how they track their valuables, as well as expand what is considered worth tracking," said Sarah Lee, Research Analyst, Parks Associates. "Concerns over privacy and misuse are becoming more prevalent, however. With consumers inevitably using smart tags to track people, companies need to present countermeasures to combat potential misuse, even if only by well-intending caregivers."
Smart Tags Smart Product Market Assessment identifies key market drivers and barriers and assesses growth of these products, including use cases and user profiles, consumer attitudes and preferences, tracking others using smart tags, and the crossover between home security ownership and smart tag use. Key topics include adoption trends, new technology developments, key and emerging competitors, features offered, barriers to adoption, and consumer security and privacy concerns. This Smart Product Market Assessment also profiles key and emerging players in the Bluetooth / wireless tracker smart tag market.
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About Parks Associates
Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.
The company’s expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com
SOURCE Parks Associates