What are your thoughts on home automation? Are you for, against, or indifferent? I admit to being a big fan myself. I am intrigued by all things home automation. My interest in the topic was initially sparked by a job that has me researching and writing on smart home topics on a monthly basis.
During one of my recent research sessions, I ran across the summary of a market research report on the state of the smart home market. The post included some statistics that did not surprise me due to my industry knowledge. But I suspect some of them would surprise most consumers. Let us find out. Here are five of the statistics from that post:
1. Market Penetration Is 59%
Let’s start with market penetration. The report in question says that 59% of all American households have at least one smart home product. For most smart home device owners, this means a wireless video camera. Video surveillance has really taken off in the home automation era.
Video cameras are frontline security devices. They can be used to keep an eye on the babysitter or alert a homeowner to a burglary in progress. But that’s not all. Some people invest in video cameras to keep an eye on their pets or interact with their kids during the workday.
2. Ownership Is Greatest Among Young People
Next, the largest demographic group in terms of smart device ownership is young people between 12 and 24 years of age. In second place is the 25-34 demographic. The two demographics combined account for approximately two-thirds of the total number of people who own smart devices.
This particular statistic doesn’t surprise me at all. The people in these two age groups grew up with digital technology. Those in the younger group have grown up with smartphones. Utilizing smart technologies is second nature to them. Why would they not be the largest consumers of smart home tech?
As for me, I am part of Gen X. Digital technologies were virtually non-existent when I was a kid. I still appreciate smart home tech as much as the next guy, but there are plenty of people in my generation who could not care less about it.
3. Security Camera Ownership Is 26%
The third statistic says that 26% of American households are equipped with at least one security camera. That surprises me. I would think the number to be much higher, especially given that today’s cameras offer such fantastic features. I won’t get into those features here, but Vivint Home Security has a great post on their website with all the relevant details.
4. Interoperability Concerns Are Big
Moving on to the next statistic, approximately 53% of smart home consumers agree that interoperability is a concern. They express some difficulty setting up and installing devices that might not be designed to work well together. If you have ever tried to install multiple devices from different brands, you are probably familiar with the interoperability issue.
5. Smart Thermostats Have Their Own Value Proposition
Finally, smart thermostats are somewhat unique among consumers in the sense that they have their own value proposition. This is illustrated by the fact that the number one reason for investing in a smart thermostat is energy savings. Consumers apparently don’t buy smart lighting and other energy efficient devices because they want to save on the electric bill.
These statistics represent the sorts of things that fascinate me about the smart home concept. Things in the smart home universe are constantly changing, and I am thrilled to be a part of it. How about you?
