Smart home devices continue to appeal to consumers globally as they come with various advantages while serving different categories. Consequently, the ownership is distributed globally varies based on different aspects.
According to data acquired by Finbold, 24.9% of United Kingdom internet users own smart home devices. The figure is almost double the global average of 13.5% as of Q2 2021. Ireland is among countries above the global average with 22.2% to rank second overall. Canada and United States ownership accounts for a share of 21.2% and 20.2%, respectively.
Other notable countries ranking above the worldwide average include China (18.6%), Turkey (17.1%), Italy (17%), Spain (17%), and Vietnam (17%)
Elsewhere, the Netherlands, India, and Mexico’s smart home device ownership share is below the global average at 13.4%, 13.1%, and 13.1%, respectively.
Changing consumer behavior drives smart home device adoption
The report highlights some of the factors influencing the distribution of smart home device ownership globally. According to the research report:
Furthermore, the ownership share emerges amid changing consumer behavior mainly driven by the effects of the coronavirus pandemic. Amid the health crisis, most people spent money on technology-related services and devices. With most people staying indoors, smart home devices acted as enablers for a smooth stay at home amid the crisis.
In general, smart home device ownership is mainly driven by the desire to improve consumers’ lifestyles, convenience, comfort, and peace of mind.
However, the adoption of the devices is facing various challenges like data-related privacy concerns and the pricing aspect. Currently, smart devices are considered expensive, potentially keeping away possible clients.