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5 Top Tech with High Purchase Intent

May 12, 2020

Despite the economic uncertainty that has arisen since the COVID-19 outbreak, one-third (31%) of U.S. homes intend to purchase tech products within the coming year, according to a new Consumer Technology Association (CTA)® study.

Though the novel coronavirus is still projected to affect the sales of key consumer technology devices, technology has proven to be integral in our lives and interest has not dwindled.

“Consumers’ continued desire for new technology is strong, and the value of technology has never been stronger,” said Steve Koenig, VP of research at CTA.

The CTA 22nd Annual U.S. Consumer Technology Ownership and Market Potential Study explores household ownership and purchase intent among U.S. households for key consumer technology products, from smartwatches and video game consoles to 5G handsets and pet tech.

Here are five of the technologies garnering the greatest interest among consumers.

Smartphones

Though long-awaited 5G smartphone deployments may be delayed until the economy rebounds, smartphone interest still remains a top tech product that consumers plan to purchase over the next year, for the second year in a row.

In the next 12 months, households across the U.S. intend to purchase 43.2 million phones, with three out of four consumers intending to purchase one that is 5G capable.


Wireless Earbuds

With advancements in battery life, sounds quality and connectivity features, wireless audio products are making strides in the consumer market, seeing double-digit percentage growth in ownership in 2020.

Interest in and ownership of wireless audio devices may outpace their wired counterparts in the coming years.


Television

As video streaming habits rise, one in five households intend to purchase an internet-enabled smart television in the next 12 months, and 12 million households intend to purchase at least one 70+ inch television.

Many consumers may be looking to supplement home entertainment systems to accommodate additional viewers and additional content in response to the COVID-19 outbreak.


Smart Home Products

Smart home technologies are also gaining traction across most categories, including smart speakers, smart lightbulbs and smart doorbells. Smart home products are popular with more repeat purchases than first-time purchases, people are adding devices to an established smart home network.

For the third straight year, smart speakers have had the highest purchase intent compared to other smart home products. Smart speakers have become a gateway device for consumers on the path for greater smart home integration.


Home Video Game Console

Portable gaming devices continue to increase in popularity as consumers crave gaming on the go.

Of those consumers intending to purchase a console in the coming year, a majority are looking to own the newest next-generation consoles, anticipating releases that will likely be on the market later in the year.

Particularly as the world continues to stay home, the video game category will see steady growth.

Access the full report to learn more about the other top tech with high purchase intent and uncover consumers’ purchase intent of emerging technologies.


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