The Last Word: Rising Number of First-Time Buyers Enter the Smart Home Market, Report Says

“New households are entering the smart home market with just one or two devices, bringing down the average number of smart home devices owned—but this is a positive result overall.”

Jennifer Kent
VP of Research
Park Associates
.…on data from the market intelligence firm’s smart home consumer insights report.

On average, U.S. households with internet and a smart home device have 7.1 of the devices, according to new data from Dallas-based Park Associates.

And while an increasing number of new households entering the smart home market with just one or two devices decreases the average, the industry continues to thrive with 28% of U.S. internet households now having three or more smart home devices.

“The security industry is a strong channel for smart home devices and new services, with many opportunities to connect different ecosystems through the security system platform,” Kent said.

Of U.S. households with internet, 40% have a security solution, and 25% have professional monitoring, according to the company’s latest report.

Despite a decline in purchases of most smart home device categories at the end of 2022 due to inflation and economic uncertainty, Parks’ research reveals that purchases of robotic vacuum cleaners, smart cameras, video doorbells, and smart thermostats increased compared to 2021.

For more of who said what about all things North Texas, check out Every Last Word.

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