The Connected Decade:

A Look at Consumer Demand for Interconnectivity over the Next 10 Years through Assurant's Research & Innovation Project

The Pandemic Kicked Tech Adoption into High Gear

We're using deep insights to help you win business and connect to consumers around the world.

The COVID-19 pandemic had a major impact on the way consumers interact, especially online and how they focused on device interoperability. Unsurprisingly, that led to the increased adoption of smart products that help us connect to each other. And it turns out that, once consumers adopt a smart product, they have a much more positive outlook on smart technology overall.

Icon showing a person in front of a globe

60%

of consumers have already upgraded or plan to upgrade to a 5G-capable device
Icon of a bar chart with a trend line

39%

increase in those consumers who regularly use the connected devices they own

Exterior circle outline with an interior outline of multiple people

35%

of consumers are interested in refurbished devices as a way to support sustainability
Icon of a person working and a rotating wheel

44%

of consumers would purchase a connected device if it offered a value-added service

The 2023 Connected Decade Report

What's Driving Connected Consumer Behaviors?

graphical user interface

Assurant's latest research explores U.S. consumer attitudes towards connected devices. There was a 39% increase in device usage last year, where the majority of consumers surveyed (60%) connected at least one new or replacement device to their Wi-Fi for the first time.  

But while device usage is on the rise and 5G has been a catalyst for driving smartphone upgrades during the past year, U.S. consumers facing inflation and the global cost of living crisis are cautious in their approach to spending on connected devices this year. 

Excitement Around New Tech Declines

Desire for Value-Added Services Rises

At the height of the pandemic in 2021, when asked if connected consumer technologies have made things better or worse, every generation unanimously agreed: technology improved lives.

Sentiments settled in 2022, likely due to device saturation in the market. Only 39% of consumers revealed they'd upgrade their smart devices in the coming year.

How do retailers continue to command market share and consumer loyalty? Consumer demand trends point to value-added services. Almost half (44%) of consumers are likely to go commit to a purchase of a connected device if it comes with the promise of further technical support after the sale.

chart illustrating impact of tech on life by generation

Younger generations continue to gain buying power and influence buying behavior trends. In the Connected Decade research, roughly 50% of Gen Z and millennials were interested in buying refurbished devices if it meant it'd contribute to sustainability.

Regardless of the consumer's device preference, 48% of all connected consumers would be at least somewhat likely to pay an optional monthly fee  to pay a monthly fee to support sustainability initiatives. 

Global Reach

35% of consumers

are interested in buying a refurbished device it if meant it would contribute to sustainability.

eBooks - The Latest in Connected Decade Research

Evolving Behaviors for Connected Consumers Across the Globe

Kicked off in 2020, Assurant will be analyzing and sharing insights into connected consumer buying behaviors around the world over the next ten years. The Connected Decade research is designed to provide actionable insights that help us work together to enhance existing programs and create new programs that meet your consumers' needs during this evolution.

Our study spans eight countries, surveying participants who represent shifting consumer attitudes across the United States, Mexico, Australia, Canada, Brazil, Japan, the United Kingdom and Germany. Consumer sentiments outlined in the study reveal substantial opportunities for connected living companies.

Latest Connected Decade Insights from Assurant

Lower latency, increased data capacity, automation and truly intelligent technology will create virtually endless possibilities for connected consumers in the next decade. ‘Smart cities’ are now within reach. Real interoperability between smart homes, cars and mobile devices will be solidified. And enterprise applications for industry-specific advancements are expected to be enormous.

Article
a group of people looking at a tablet

Q4 and 2023 Mobile Trade-In and Upgrade Industry Trends Report

Annual Mobile Trade-in and Upgrade Industry Trends report, saw a record-breaking amount of money returned to customers from mobile trade-in programs.

Read Article
Article
a person using a phone

Q3 2023 Mobile Trade-In and Upgrade Industry Trends Report

The Mobile Trade-In and Upgrade Industry Trends Report reveals that $999M was returned to U.S. consumers through trade-in programs helping to fuel a strong secondary market where pre-owned devices are in demand.

Read Article
eBook
a green and white sign

F&I’s Role in The Next EV Wave

Our report outlines factors driving EV car demand and the opportunities they’re opening for your dealership’s F&I team. Learn more about EV market trends and the opportunities they’re opening for your dealership’s F&I team.

Read Article
Man sitting on stairs outside holding mobile device next to a bicycle

Ready to drive more business in the Connected Decade?