Businesses, governments, and individuals rely on broadband services each day for productivity and communication. Household adoption of fixed-line broadband services increase every year. Broadband adoption has increased over 60% in the last six years. What drives demand for broadband services? A recent study found four driving factors:
– Connected device ownership: Device purchases combined with broadband services creates a cycle for adoption and upgrades. Consumers with broadband want devices that will leverage the access provided.
– Always-on access and Wi-Fi: A broadband connection allows consumers to have a continuous connection. In-home Wi-Fi access is particularly attractive to smartphone consumers that have metered mobile data and want to minimize their data costs.
– Entertainment: Streamed content requires a broadband connection for a good experience.
– High bandwidth interactivity and communication: Personal media and social interaction, including posting photos or video online, accessing photos and videos from others, and videoconferencing all require bandwidth.
As these trends continue to grow and spread across the world, consumers place higher emphasis on speed. Widespread access to high-speed data services will facilitate the accelerated growth of the connected home and consumer-based IoT. According to Parks Associates estimates, half of US broadband households will be smart homes by 2020. The expectation of instant, personalized, and connected tech experiences will continue to drive IoT innovation over the next several years.