DALLAS—New data released by Parks Associates during CES2024 shows that consumers are connecting a record number of devices in their homes to the internet, with the average number of connected devices per U.S. internet household reaching 17 in Q3 2023.
Park’s Consumer Electronics Dashboard, an ongoing service that visualizes the most important metrics for consumer electronics (CE) devices in the home, also found 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. The research also found that 92% of US households have fixed or wireless internet service at home.
"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."
Parks also found that among US internet households:
- 89% have a streaming video service
- 66% have a smart TV
- 42% have at least one smart home device
- 31% have a security system
- 39% have a smart watch
The research also found that consumer spending continues to show remarkable resilience. After a brief pause early in 2023, consumers' 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 have 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."
