Smart technologies are making life more convenient. The smartphone has been adopted by hundreds of millions of people worldwide. Now, the technologies that made smartphones successful are coming into various rooms of the home. 69% of American households own a smart device. 18% own 2 or more.
The most used smart devices in the US are for entertainment, followed by security and usage monitors. Audio video devices have the highest rates of adoption at 56%. Certain rooms are more conducive to smart devices than others; living rooms are far more likely to feature them than bathrooms.
Millennials and Gen Z show the most enthusiasm for smart home products. 86% of Millennials would pay more for a connected home, and 94% of Gen Z value the convenience of smart home products. These generations are driving the incredible 22.3% CAGR of the smart device market expected over the next 4 years.
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