2022
9
US Early Adopters and Emerging Consumer Technology Market Report 2022
2022-06-18T04:05:41+01:00
OX1102851
3695
152194
[{"name":"Consumers and Trends","url":"https:\/\/store.mintel.com\/industries\/consumers-trends"},{"name":"Technology","url":"https:\/\/store.mintel.com\/industries\/technology"}]
Report
en_GB
“Technology is a major driver of the economy, making Early Adopters an important audience to win. This group is motivated by curiosity and the sheer fun of discovering something new,…

US Early Adopters and Emerging Consumer Technology Market Report 2022

£ 3,695 (Excl.Tax)

Report Summary

“Technology is a major driver of the economy, making Early Adopters an important audience to win. This group is motivated by curiosity and the sheer fun of discovering something new, but innovations must also serve a helpful purpose. Even during turbulent times, Early Adopters remain excited about new technology; providing early access to new products and features and leveraging Adopters’ social networks are good strategies for getting the most from this influential segment.”
– Fiona O’Donnell, Senior Director – US Reports

This Report looks at the following areas:

  • The adoption curve for new technologies and key demographics of Early Adopters
  • Key players and opportunities in the emerging consumer technology sector
  • Technology ownership and usage by Early Adopters
  • Early Adopter attitudes toward new technologies
  • Factors encouraging and discouraging Early Adopters from purchasing new technologies

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Market context
          • Executive Summary

              • Top takeaways
                • Market overview
                  • Figure 1: Consumer technology adoption curve, 2022
                • Opportunities and challenges
                  • Is the metaverse what’s next?
                    • Figure 2: AR/VR/MR & metaverse digital technologies – Not using but interested, by Early Adopters, 2022
                  • Leverage Early Adopters’ social networks
                    • Dads an important target audience
                      • Figure 3: Technology devices – Current use, by Early Adopter and dads, 2022
                    • Young Early Adopters less engaged
                      • Figure 4: Perceptions of emerging technology and AR/VR/MR & metaverse disinterest, by Early Adopter status and 18-24s, 2022
                    • Key consumer insights
                    • Early Adopters: Consumer Profile

                        • Early Adopters are critical to driving innovation
                            • Figure 5: Diffusion of innovation curve
                          • Interest in new technologies comparable to other new products
                              • Figure 6: Adoption curve – “A new product” vs “New technology,” 2021 and 2022
                            • Mintel Trend Driver: Technology
                              • Figure 7: Trend Driver – Technology and associated pillars
                            • Younger consumers, men most likely to be Early Adopters
                                • Figure 8: Profile of Early Adopters, indexed to all consumers, 2022
                            • Emerging Consumer Technology: Market Indicators

                                • Smartphones, smart home already mature; AR/VR on the rise
                                    • Figure 9: Global consumer technology device shipments, 2020 and 2021
                                  • Start-up funding spikes – But will it last?
                                      • Figure 10: US venture capital investment, total and consumer tech, 2011-21
                                  • Market Factors

                                    • Inflation contributes to looming recession threat
                                      • Figure 11: Consumer Price Index change from previous period, 2007-22
                                    • In short supply
                                      • Could 5G change the game?
                                        • Figure 12: Interest in 5G networks and 5G smartphones, 2020 vs 2022
                                      • COVID-19 speeds tech adoption
                                        • Figure 13: Digital activities in the past three months and doing more often since COVID-19, 2021
                                    • Emerging Tech: Key Players and Innovators

                                      • Tracking the tech giants
                                        • Figure 14: Market capitalization, 2022 and revenues of leading consumer tech companies, 2021
                                      • Can Apple retain its advantage?
                                        • Alphabet focuses on AI
                                          • Figure 15: Google Project Starline installation, 2021
                                        • Meta goes, well, meta
                                          • Figure 16: Metaverse awareness and knowledge, by gender and age, 2022
                                        • Samsung puts the future on display
                                          • Figure 17: Samsung Odyssey Ark at CES, 2022
                                        • A future for fintech after the crypto crash?
                                        • Competitive Strategies and Market Opportunities

                                          • It never hurts to be social
                                            • Figure 18: Daily use of social media sites, by Early Adopters status, 2022
                                            • Figure 19: Whoop affiliate program, 2022
                                          • Follow the crowd?
                                            • Figure 20: Oladance Kickstarter campaign page, 2022
                                          • Crypto leverages celebrity clout
                                            • Figure 21: Crypto.com “Fortune favours the brave” ad, 2022
                                        • Early Adopters: Fast Facts

                                          • Early Adopters at the leading edge for smart home and smart health
                                            • 5G phones fully mainstream, wearables not there yet
                                              • High enthusiasm for domestic robots, wearables
                                                • Negative perceptions seen for some fintech
                                                  • Awareness low for the metaverse, AR
                                                    • Video calls see strong engagement
                                                      • Perceptions of new tech mostly positive
                                                        • Convenience, entertainment, curiosity drive adoption
                                                          • Purchase cost, privacy main deterrents
                                                          • Technology Devices Use and Interest

                                                            • Smart home appliances, robots not yet mainstream
                                                              • Figure 22: Household technology devices use and interest, 2022
                                                            • Early Adopters have embraced smart home technology
                                                              • Figure 23: Household technology devices – Current use, by Early Adopters, 2022
                                                              • Figure 24: Early Adopters’ household technology devices – Not using but interested, by gender and age, 2022
                                                            • Significant room for foldables and advanced wearables to grow
                                                              • Figure 25: Personal technology devices use and interest, 2022
                                                            • 5G, smartwatches have critical mass for Early Adopters
                                                              • Figure 26: Personal technology devices – Current use, by Early Adopters, 2022
                                                              • Figure 27: Early Adopters’ personal technology devices – Not using but interested, by gender and parental status, 2022
                                                          • Digital Technologies Use and Interest

                                                            • With the exception of digital wallets, fintech still early stage
                                                              • Figure 28: Digital technologies use and interest – Fintech/currency, 2022
                                                            • Early Adopters more interested in crypto than NFTs
                                                              • Figure 29: Fintech/currency digital technologies – Current use, by Early Adopters, 2022
                                                              • Figure 30: Early Adopters’ fintech/currency digital technologies – not using but interested, by age and household income, 2022
                                                            • Solid awareness for VR, limited for related technologies
                                                              • Figure 31: Digital technologies use and interest – AR/VR/MR & metaverse, 2022
                                                            • VR begins to gain critical mass with Early Adopters
                                                              • Figure 32: AR/VR/MR & metaverse digital technologies – Current use, by Early Adopters, 2022
                                                              • Figure 33: Early Adopters’ AR/VR/MR & metaverse digital technologies – not using but interested, by age, 2022
                                                            • Limited awareness for AI/digital substitutes
                                                              • Figure 34: Digital technologies use and interest – AI/Digital substitutes, 2022
                                                              • Figure 35: AI/digital substitutes technology – Current use, by Early Adopters, 2022
                                                          • Digital Activities

                                                            • Digital engagement continues growth following COVID-19 boost
                                                              • Figure 36: Digital activities in the past three months, 2021-22
                                                            • High majority of Early Adopters trying digital activities
                                                              • Figure 37: Digital activities in the past three months, by Early Adopters, 2022
                                                            • Metaverse most popular amongst the young
                                                              • Figure 38: Early Adopters’ digital activities – Virtual entertainment and NFTs, by age, 2022
                                                            • Older Early Adopters open to virtual medicine
                                                              • Figure 39: Early Adopters’ digital activities – Health consultation, by age, 2022
                                                          • Perceptions of Emerging Technology

                                                            • Too much of a good thing?
                                                              • Figure 40: Perceptions of emerging technology, 2017 vs 2022
                                                            • Early Adopters are excited by new tech
                                                              • Figure 41: Perceptions of emerging technology, by Early Adopters, 2022
                                                            • Non-parents most likely to find new tech exciting, interesting
                                                              • Figure 42: Early adopters’ perceptions of emerging technology – Positive, by parent status and gender, 2022
                                                            • Young adopters more apprehensive about tech
                                                              • Figure 43: Early adopters’ perceptions of emerging technology – Negative, by age, 2022
                                                          • Motivations and Barriers for Technology Adoption

                                                            • For Early Adopters, new tech is fun
                                                              • Figure 44: Motivations for technology adoption, by Early Adopters, 2022
                                                            • Cost savings less critical than convenience, curiosity
                                                              • Figure 45: TURF Analysis – Motivations for tech adoption, 2022
                                                              • Figure 46: Table – TURF Analysis, Motivations for tech adoption, 2022
                                                            • Methodology
                                                              • Cost, privacy key challenges for all consumers
                                                                • Figure 47: Barriers for technology adoption, by Early Adopters, 2022
                                                                • Figure 48: Barriers for technology adoption, by age and household income, 2022
                                                            • Appendix – Data Sources and Abbreviations

                                                              • Data sources
                                                                • Market data
                                                                  • Consumer survey data
                                                                    • Abbreviations and terms
                                                                      • Abbreviations
                                                                        • Terms

                                                                        About the report

                                                                        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 databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

                                                                        *databooks not available with UK B2B Industry reports.

                                                                        Below is a sample report, understand what you are buying.

                                                                        Click to show report
                                                                        2024 Sample Consumer Cover

                                                                        Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

                                                                        Trusted by companies. Big and small.

                                                                        Want to speak to us directly?

                                                                        Contact us with your enquiry and our expert global team can help.

                                                                        Get in touch