For some general industry news, I thought it might be of interest to our members to see the latest figures published by the Consumer Technology Association (CTA), which has just released the 20th annual Consumer Technology Ownership and Market Potential Study. It reveals, for the first time, the top three most-owned tech products in the USA, which are now ‘screens’, namely, televisions, smartphones and laptops.
Smartphones, owned by 87% of U.S. homes, are quickly catching up to TVs (96%) as the most popular tech item, and could catch up within the next 5 years. And rounding out the top 3, laptops jumped to 72%, 4K Ultra HD TVs saw the largest growth in household ownership, rising 15 percentage points and, in contrast with 2018, in 1998, color TVs, VCR decks, cordless phones, telephone answering devices and home CD players made up the top 5 most owned tech products.
“‘The Three Screens’ – TVs, smartphones and notebook computers – now dominate the kinds of tech devices Americans have in their home, speaking to consumers’ desire to be connected and entertained, anytime and anywhere,” said Steve Koenig, vice president of market research, CTA. “The rapid ascent of smartphone ownership in U.S. households exemplifies the versatility of these devices – for communication, for entertainment, for productivity and more. And because of that, it’s possible we’ll see smartphone ownership in the U.S. match that of TVs within the next five years.”
Among new, emerging tech categories, smart speakers including the Amazon Echo and Google Home have nearly tripled in ownership rate to reach 22% of American households, making it one of the fastest-adopted technologies since tablets. Smartwatch adoption continues to grow, with 18 percent of U.S. households now owning at least one of the devices, an increase of six percentage points over last year. Additionally, ownership rates of drones and virtual reality (VR) headsets were measured at ten and 11 percent of households, respectively.
Next-generation screen technologies and the availability of larger screen sizes drove more U.S. consumers to buy technology in and around the TV. 4K Ultra High Definition televisions experienced the largest growth in household ownership rate, rising 15 percentage points year-over-year to reach 31 percent of household ownership, and one in five (19 percent) households owns a TV with a screen size of 60 inches or bigger. Ownership of digital media streaming devices rose nine percentage points since last year to 45 percent of households.
“It’s no surprise that emerging categories such as smart speakers and VR are among the products consumers anticipate buying the most” said Ben Arnold, senior director of innovation and trends, CTA. “Many of these devices incorporate new technologies and features – artificial intelligence, voice recognition, faster processing – and at the same time provide a smarter way to communicate or experience content.”
This year marks the 20th anniversary of CTA’s Annual Consumer Technology Ownership and Market Potential Study showing significant changes from 20 years ago. Going back to 1998, color TVs, VCR decks, cordless phones, telephone answering devices and home CD players made up the top five most-frequently owned tech products in U.S. households.