In The News

How Many E-Gadgets Per Household?

January 17, 2024

home automation

Consumer Electronics Dashboard

The answer: 17, per research released at the CES 2024 trade fair by Parks Associates. That’s up from eight as recently as 2015.

The international market research and consulting firm’s latest Consumer Electronics Dashboard also noted that for the first time, smartphone ownership surpassed TV ownership, with 90 percent of households reporting ownership of a smartphone compared to 88 percent 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.”

The research also showed consumer spending demonstrated what Parks described as “remarkable resilience” in 2023. After a brief pause early in the year, shoppers’ enthusiasm 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 increased compared to 2022 and now resemble 2021 levels, which was the height of the pandemic.

“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.”

From the article, "How Many E-Gadgets Per Household?"

Previously In The News

Study: IoT Users May Become Comfortable With Sharing Device Data, For A Price

A Parks Associates study has found that over a quarter of respondents would become more comfortable sharing their data if their devices would "automatically register for warranties and check warranty...

The two, opposing IoT r/evolutions in play

Before we go any further, let’s look at the vastness of the IoT space for a moment. The global Internet of Things market will grow to $1.7 trillion in 2020 from $655.8 billion in 2014. According to Ga...

Music streaming leads on smartphones

Streaming music is the most popular way consumers spend time on their smartphones, according to market research firm Parks Associates, significantly outpacing playing games and watching video clips....

Amazon Echo Show Ushers in Smart Home Transformation

One of the hurdles to smart home adoption has been the complexity. What happens now is someone orders a bunch of devices or buys some things in a big box store, and they plug them all in at home, and...

‹
1
2
...
147
148
149
150
151
152
153
...
761
762
›