According to Parks Associates, 16% of U.S. broadband households own two or more smart home devices, and householders are buying additional smart devices as more purchase channels open to them. The research house says smart thermostats are the best-selling smart home category, and nearly 50% of smart thermostats bought in 2017 were purchased as an upgrade to an older model, while 16% of smart thermostats were sold through HVAC dealers.
"The buyer journey for smart home households is important to study and understand, as we see one purchase frequently leading to a second and third, with householders acquiring devices incrementally rather than all at once," said Brad Russell, research director, Connected Home, Parks Associates. "For smart thermostats, a household that buys this device frequently moves on to a smart speaker with personal assistant as their second or third smart home purchase."
Parks says smart home device purchase intentions continue to grow, increasing from 26% in 2014 to 48% in 2017, with 34% of consumers reporting high intention to purchase a device.
"As the smart home industry attempts to cross the chasm - moving from adoption among early adopters to the early majority - brands in the space fervently seek to understand the value propositions that drive product adoption and how to improve perceived product value," said Patrice Samuels, senior analyst, Parks Associates. "Understanding the buyer journey is equally important for industry development."
Other findings indicate:
- 26% of U.S. broadband households report owning at least one smart home device.
- 22% of U.S. broadband households report purchasing a smart home device over the past year.
- 13% of U.S. broadband households own a smart thermostat.
