Majority of consumers would be more likely to purchase tech if offered protection and support services

ATLANTA, June 7, 2023—Assurant (NYSE:AIZ), a leading global business services company that supports, protects and connects major consumer purchases, today reveals findings from its latest Connected Decade research. The research reveals the continued rise in connected living, with growth in connected device usage and an increased appetite for 5G devices.   

Assurant’s latest Connected Decade research explores U.S. consumers’ attitudes towards connected devices during 2022. According to the research, 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. According to the study: 

  • Only 39% of consumers are likely to upgrade their smartphones in the coming year, compared to 54% in the previous year. 
  • Only 30% of consumers are very likely to buy a newer model of their connected devices when the latest version is released — a 23% decrease from 2021. 
  • 60% of consumers have already upgraded to a 5G-capable smartphone or are willing to upgrade their device to get 5G capability. This compares to 36% the year before.