PYMNTS-MonitorEdge-May-2024

31% More Consumers Are Using Smart Home Tech to Enhance Security

smart home, technology, safety

The use of digital has boomed in recent years as more consumers embrace the ease and convenience they offer in their day-to-day lives. 

In “The Evolving Digital Daily Edition”: The ConnectedEconomy™ Monthly Report, PYMNTS tracks 70 different types of digital activities and measures the use and adoption of digital tools by consumers based on day-to-day activities, such as working, shopping, eating, traveling and making or receiving payments. These insights are built on 15 studies and the 40,000-plus consumers PYMNTS has surveyed since November 2021.

Findings captured in the March report show that the average consumer now engages in 28 monthly and 8 daily digital activities — up from the 24 and 6, respectively, recorded last year. 

“This increase shows that consumers continue to find new ways to integrate digital into their routines, adding new digital activities to their schedules as time passes,” the report noted. 

Drilling down into the data further reveals compared to just a year ago, an additional 21 million people have adopted smart home gadgets, 17 million more are using social media and messaging applications, and an additional 18 million individuals are using applications and platforms like Airbnb and Uber for their travel and commuting needs.

Additionally, the use of parking applications, dating websites, and home-sharing platforms increased more than 30% compared to the previous year. 

Thirty-one percent more consumers also reported using smart home technology to bolster security, while 33% more used devices such as Nest or Philips Hue to oversee and ensure the safety of their home environments. 

As the study further noted, the spike in consumer engagement with digital platforms saw its most significant growth in three areas, namely travel and commuting, keeping connections with friends and family, and in the adoption of smart home technologies. In fact, of the 10 primary digital activities that have witnessed the most significant year-over-year increase, nine are associated with one of these three areas.

“Overall, 40 out of 70 digital activities saw an increase in the share of consumer engagement of 20% or more,” the report noted.

PYMNTS-MonitorEdge-May-2024