This is particularly true with mobile devices. Some 36% of U.S. households plan to buy a smartphone over the next 12 months, but among this group three-quarters (75%) plan to upgrade to a 5G handset. Clearly, as the rollout of 5G networks continues across America, consumers plan to be ready for 5G’s faster speeds when available in their area.
The health crisis is also giving demand for wearables a shot in the arm. Today 31% of U.S. households own at least one smartwatch, an increase of eight points from 2019’s level of 23%. Looking ahead, about one in five (21%) households plan to buy a smartwatch in the next year, with 40% being first-time buyers. And wearable activity trackers, currently owned by 30% of U.S. households, are seeing demand hold steady with 18% of households planning to buy in the next year.
As the U.S. economy reopens against the backdrop of the health crisis, CTA will continue to monitor technology and consumer trends.
For more information, visit CTA.tech/research.