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Description

Description

"The digital hardware market’s overall performance is typically balanced, since it sees growth of new devices at the same time as others become less relevant. For instance, the growth of smartphones and tablets meant the decline of eReaders and digital cameras; DVD/Blu-ray players have declined while streaming devices have grown. This cycle of one digital device cannibalizing another is consistent for the industry, but there is currently an opportunity to grow the market organically. That is because the emergence of the smart home means that traditionally basic home products like lightbulbs and door locks are suddenly part of the digital hardware landscape. As a result, the market has an opportunity to drive revenues as consumers make their homes more connected and dependent on digital hardware."

– Scott Stewart, Senior Technology and Media Analyst

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Demand is shifting to devices that are mobile, flexible and connected
          • Device connectivity is starting to play a role in purchase decisions
            • Consumers want new tech, but do not want to move too fast
              • Brand trust is vital to succeed in the digital hardware market
                • Smart speakers have potential, but multiple hurdles to overcome
                  • What it means
                  • The Market – What You Need to Know

                    • Digital hardware purchases are not a priority for Canadians
                      • Canadian households are getting smaller, but there are more of them
                        • Tech news is going mainstream
                          • Digital hardware is an integral part of consumers’ leisure time
                            • The impact of online shopping trends on digital hardware retail
                            • Market Factors

                              • Digital hardware purchases are not a priority for Canadians
                                • Canadian households are getting smaller, but there are more of them
                                  • Figure 1: Canadian private dwellings volume and average size, June 2019
                                • Tech news is going mainstream
                                  • Digital hardware is an integral part of consumers’ leisure time
                                    • The impact of online shopping trends on digital hardware retail
                                    • Key Players – What You Need to Know

                                      • Companies are creating product ecosystems to drive loyalty
                                        • Smart home products are building good momentum
                                          • Data breaches are putting privacy front and centre
                                            • The risks of planned obsolescence in the long run
                                              • Digital hardware will experience moderate, but consistent evolution
                                                • Gaming console wars are heating up for 2020
                                                  • Retro tech is making a comeback
                                                  • What’s Working?

                                                    • Companies are creating product ecosystems to drive loyalty
                                                      • Figure 2: Google Nest Hub | Help at home, October 2019
                                                      • Figure 3: Amazon Instagram post, September 2019
                                                    • Smart home products are building good momentum
                                                    • Challenges

                                                      • Data breaches are putting privacy front and centre
                                                        • The risks of planned obsolescence in the long run
                                                        • What’s Next?

                                                          • Digital hardware will experience moderate, but consistent evolution
                                                            • Gaming console wars are heating up for 2020
                                                              • Figure 4: PlayStation Twitter post, October 2019
                                                              • Figure 5: Oculus Quest | Pre-Order, May 2019
                                                            • Retro tech is making a comeback
                                                              • Figure 6: Nokia Instagram post, November 2017
                                                          • The Consumer – What You Need to Know

                                                            • Device ownership
                                                              • Purchase factors for new technology
                                                                • Consumer interest in emerging technology
                                                                  • Attitudes towards tech ownership and purchases
                                                                    • An assessment of the smart speaker market
                                                                    • Device Ownership

                                                                      • A shift from traditional tech items to mobile and streaming devices
                                                                        • Figure 7: Household technology ownership, August 2019
                                                                        • Figure 8: TV ownership, by age, August 2019
                                                                        • Figure 9: 2019 QLED 8K Official TVC: One giant leap for reality | Samsung, April 2019
                                                                        • Figure 10: Home video equipment ownership, by age, August 2019
                                                                        • Figure 11: Pottery Barn Instagram post, June 2019
                                                                        • Figure 12: Prefer to watch video on computer/mobile device vs TV (% any agree), by age, August 2019
                                                                      • Audio trends are showing a similar shift to mobility and flexibility
                                                                        • Figure 13: Home audio ownership, by age, August 2019
                                                                        • Figure 14: Personal audio ownership, by age, August 2019
                                                                      • New personal devices are emerging as others become niche
                                                                        • Figure 15: Personal device ownership, by age, August 2019
                                                                    • Purchase Factors for New Technology

                                                                      • Core factors remain consistent: price, reviews and word of mouth
                                                                        • Figure 16: Purchase factors for new technology, August 2019
                                                                        • Figure 17: Purchase factors for new technology, by age, August 2019
                                                                        • Figure 18: Purchase factor: connectivity with devices I already own, by age and household income, August 2019
                                                                      • The tech landscape is becoming more challenging for in-store retailers
                                                                        • Figure 19: Purchase factors: online vs in-store information, by age, August 2019
                                                                        • Figure 20: Prefer to purchase technology online rather than in-store (% any agree), by age, August 2019
                                                                    • Consumer Interest in Emerging Technology

                                                                      • Consumers are looking to get smart and go wireless
                                                                          • Figure 21: Tech devices expected to buy one day, August 2019
                                                                          • Figure 22: Meet the new Google Pixel Buds, October 2019
                                                                          • Figure 23: Ownership and expected ownership of wireless headphones/earphones, by age, August 2019
                                                                          • Figure 24: Expect to buy smart devices, by age, August 2019
                                                                          • Figure 25: Smart Home – Lights – Central – EN, October 2019
                                                                        • Consumers are hesitant to move too quickly
                                                                            • Figure 26: Tech devices consumers will never buy, August 2019
                                                                            • Figure 27: Will never buy a VR headset, by age, August 2019
                                                                            • Figure 28: Will never buy a foldable smartphone, by age, August 2019
                                                                        • Attitudes towards Tech Ownership and Purchases

                                                                          • Brand plays an important role in the tech industry
                                                                            • Figure 29: Prefer to buy tech from brands I trust even if it costs more (% any agree), by age and household income, August 2019
                                                                            • Figure 30: Prefer to buy tech from brands I trust even if it costs more (% any agree), by race, August 2019
                                                                          • The relevance of extended warranties in today’s digital age
                                                                            • Figure 31: Extended warranties are generally worth buying (% any agree), by age, August 2019
                                                                          • Many consumers like to stay up to date on new technology
                                                                            • Figure 32: Stay informed about new technology (% any agree), by age and gender, August 2019
                                                                            • Figure 33: Stay informed about new technology (% any agree), by kids in household and gender, August 2019
                                                                        • An Assessment of the Smart Speaker Market

                                                                          • Comparing ownership to purchase intent
                                                                            • Figure 34: Ownership and purchase intent of voice-controlled smart speakers, August 2019
                                                                            • Figure 35: Ownership and purchase intent of voice-controlled smart speakers, by age, August 2019
                                                                            • Figure 36: JBL Instagram post, December 2018
                                                                            • Figure 37: Ultimate Ears BOOM 3 + MEGABOOM 3 – Ultimate Waterproof, August 2018
                                                                            • Figure 38: Marshall Instagram post, September 2019
                                                                            • Figure 39: Voice-controlled smart speaker vs Bluetooth speaker ownership, by age, August 2019
                                                                          • Many people are not comfortable using voice commands
                                                                              • Figure 40: Comfortable using voice commands to control devices (% any agree), by age, August 2019
                                                                              • Figure 41: Comfortable using voice commands to control devices (% any agree), by race, August 2019
                                                                            • Consumers are hesitant to trust artificial intelligence
                                                                              • Figure 42: Attitudes towards artificial intelligence (% any agree), August 2019
                                                                              • Figure 43: I trust artificial intelligence: strongly agree vs strongly disagree, by age, August 2019
                                                                          • Appendix – Data Sources and Abbreviations

                                                                            • Data sources
                                                                              • Consumer survey data
                                                                                • Consumer qualitative research
                                                                                  • Abbreviations and terms
                                                                                    • Abbreviations
                                                                                      • Terms

                                                                                      This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

                                                                                      • Market

                                                                                        Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

                                                                                      • Consumer

                                                                                        Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

                                                                                      • Brand/Company

                                                                                        Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

                                                                                      • Data

                                                                                        Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

                                                                                      Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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