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Smart Home

Smart Products: Building The Modern Home

By Parks Associates, June 15, 2021

Broadband connectivity, fixed or mobile, is now considered a fourth utility for consumers and is the foundation of enabling connected devices and applications in the home. This includes an average of 9.2 connected computing and entertainment devices—such as computers, smartphones, smart TVs, and smart speakers, an average of 1.2 connected health and wellness devices—such as heart rate and sleep monitors, and an average of 2.6 smart home devices.

Parks Associates' new complimentary whitepaper, developed in partnership with GE Appliances, Smart Products: Building The Modern Home explores new smart home products, the connected consumer lifestyle, and the future of modern living.

The internationally recognize research firm forecasts that by 2025, US broadband households will have an average of 20 connected devices. This growth in connected devices is fueled by the emergence of new product categories solving new problems in the home. With an increase in connectivity and connected devices, the technical landscape of the modern home is constantly evolving, and new homes must be designed with these changes in mind. Smart home products are among the newest category of connected devices, with adoption growing steadily since 2014.

Additional Data Points:

Currently, 88% of US households have broadband, and consumers now have an average of 13 connected devices, up from 9.2 in 2016.
Thirty-four percent of U.S. broadband households report owning at least one of the smart home devices or a smart major appliance, up from 17% in 2016.
The percentage of US broadband households owning three or more smart home devices increased by over 64% in the past two years from 14% in 2018 to 23% at the end of 2020.

Download the Smart Products: Building The Modern Home whitepaper today!

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