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

TechSee Introduces Integrated Visual AI to Sophie Live, Drastically Improving Complex Service Interactions

"With more than half of DIY users reporting setup or connectivity issues, it is clear that complexity remains a major barrier to smart home adoption," said Elizabeth Parks, President at Parks Associat...

Home Entertainment Forecast 2026: Streaming Flexes Its Muscle, Transactional a Critical Revenue Bridge

In an added flourish to Netflix’s year, the service beat out Prime Video after three years at No. 2 on Parks Associates’ “Top 10 SVODs by Subscribers” chart. The pervasiveness of streaming is u...

Fiber For Breakfast Week 3: How Connected Homes are Powering Independence as America Ages

From fall detection and emergency alerts to remote monitoring and telehealth, connected tools are reshaping how older adults stay independent at home. That shift was at the center of this week’s F...

Survey: Is the streaming infrastructure ready for some football?

Sports streaming is more popular than ever. A November Parks Associates report found that more than a third of U.S. internet households (38%) subscribe to at least one sports-specific streaming servic...

1
2
3
4
5
6
7
8
9
10
...
761
762
›