The average number of connected devices in each US household connected to the internet has now reached 17, according to Parks Associates.
Releasing the data as part of its Consumer Electronics Dashboard, Parks added that for the first time, smartphone ownership surpassed TV ownership, with 90% of households reporting ownership of a smartphone compared to 88% with a TV.
“Smartphones are ubiquitous now, and connected consumer electronics such as wireless earbuds, tablets, and smart TVs are commonplace,” said Sarah Lee, Research Analyst, Parks Associates. “Today, these devices are essential for entertainment purposes and daily personal communications, which can include school, work, and family. This necessity drives continued purchases, as every year CE companies roll out innovative and advanced models that drive the consumer desire to upgrade.”
According to Parks research, 92% of US households have fixed or wireless internet service at home. Among these US internet households: 66% have a smart TV; 42% have at least one smart home device; 31% have a security system; 39% have a smart watch and 89% have a streaming video service.
“Economic conditions and fear of a recession previously stalled purchases of CE categories,” Lee said. “But higher intentions to purchase are likely a reflection of prolonged delayed gratification, the end-of-year holiday season, enticing retail promotions, and hope for continued economic improvement in 2024.”
The research finds consumer spending is holding up. After a brief pause early in 2023, consumer enthusiam for consumer electronics products rebounded at the end of the year. Purchase intentions for popular entertainment devices such as gaming consoles, streaming media players, and VR headsets have increased compared to 2022 and now resemble 2021 levels, at the height of the pandemic.
