Smart Homes: 70% See Cost Savings, 48% Convenience

Those who see smart home technology in action tend to get excited about it.

But then again, many people haven’t yet seen it.

It turns out that of those who know someone with a smart home, the majority (83%) get excited about the possibilities, according to a new study by Icontrol Networks.

 The second annual State of the Smart Home Report Networks is based on a survey of 1,600 consumers in the U.S. and Canada

Here’s what tops consumers’ lists for the most desired smart home devices:

  • 72% -- Self-adjusting thermostat
  • 71% -- Doors that can be locked from a remote location
  • 68% -- A master remote control for all the household preferences
  • 65% -- Home monitoring cameras
  • 65% -- Automatic adjustable outdoor lighting

A key driver of smart homes is security with most (90%) consumers saying it is one of the most important reasons to purchase a smart home system.

However, in somewhat of a twist in the world of the Internet of Things, the smart home benefit of connecting with other people is nowhere near a major driver.

For example, 70% are excited about potential cost savings from energy efficiencies, 48% see the potential convenience  in programming home settings and 47% are excited about the potential to help the environment with greater energy efficiency.

The thing that excites people the least about smart homes is the ability to have more interactive features to help connect with people in their lives, which motivates only 13% of consumers.

Consumers aged 25 to 34 were somewhat more interested in features to connect with other people, though only 21% of those.

The implication for marketers, of course, is that people using smart home technology may not have a high interest in receiving interactive messaging from anyone, though only time will tell on that.

And if there will be messaging via smart home technology, it is more likely to be delivered to where U.S. consumers most want to be connected: entertainment room (43%), kitchen (41%) or bedroom (39%).

But based on demographics, the majority of those 25 to 34 years old are likely to purchase smart home devices of one type or another within the next 12 months.

After these devices are installed, the real home connecting of IoT can begin.


What to learn more about IoT? Check out the agenda of the upcoming MediaPost IoT: Shopping conference here.


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