Internet of Things
ADOPTION TO USAGE
Gavin Miller, CEO, Asurion Europe tracks the journey to digital dependency. A
s a society, our reliance on digital devices continues to grow as we find new ways to introduce connected technology into
all manner of products. In the past decade or so we’ve seen TVs, speakers, doorbells and more incorporating ‘smart’ elements, adding to our network of home devices. Consumers are keen to adopt tools that save time and money, and strengthen safety. Te proof is in the numbers; the global smart home appliance market, for instance, is set to more than double in value - from $59 billion in 2022 to $143 billion by 2030. All this technology is changing the way we go
about our daily activities. We’re able to do chores like our weekly food shop without leaving the home and enjoy entertainment via new platforms. But this is not to say we’ve disregarded the old ways completely. Book consumption has risen and for some items we still prefer to go to a physical store. So how then can we properly understand how the smart home is changing behaviours, but also anticipate future trends to take advantage of emerging opportunities?
Measuring growth In 2016, around two thirds of the population were familiar with the idea of smart home technology. In 2023, that number had grown
20 | July/August 2024
to around 80% - driven in part by the popularity of items like smart speakers. While awareness of connected products has certainly grown, there is more of a mixed picture when we attempt to understand the journey from initial familiarity to purchasing a product and then fully integrating the product into our lives. To gain a clearer understanding, Asurion
Europe’s study investigated the adoption and usage rates of smart home devices in the last few years. Asurion’s Adoption Index reflects the population’s access to devices and channels, based on factors such as: internet users, adult social media users, mobile internet users, wearable owners and the penetration of smart home
devices. Meanwhile, the Usage Index displays the amount of time we actually spend using these products, for activities like streaming TV, browsing the internet and social media, playing on games consoles, and online shopping. Tere’s an important distinction between the two. Even though
one may have a social media account or own a smartwatch, it’s not necessarily the case that they are being used. In fact, YouGov found that around one in ten smart watch owners don’t use their device; for platforms like social media accounts which are free to acquire, this number is likely to be much higher.
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