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?"
"Parks Associates consumer survey data finds that between 2014 and 2018, the average amount paid by U.S. broadband households on their most recently purchased smartphone doubled from a mean of $258 to...
Streaming incentives could appeal to a widespread customer segment. Streaming services have broad appeal: 64% of US households have access to either Netflix, Hulu, or Amazon Prime Video, and more than...
"The question is the degree to which consumers value content other than CBS, and whether CBS will be missing permanently from the AT&T lineup," said Brett Sappington, principal analyst at Parks Associ...
A leading area of innovation is in adaptive authentication. This technology determines the level of authentication needed for a given interaction with a service. So, each interaction comes with a spec...