July 28, 2014: Younger Consumers Leading Adoption of Smart Home Products
Smart Thermostats, Smart Lighting, and Smart Appliances Entering the Market in Growing Numbers
DALLAS — New research from Parks Associates shows young consumers, those with children, and those in a home for three to four years are leading the adoption of Internet-connected smart home energy management devices. The firm’s Home Energy Management Adopters study reveals more than 10 percent of U.S. broadband households headed by a consumer aged 25-34 own at least one smart home energy management device, compared to 7 percent of all U.S. broadband households. Further, 9 percent of households with children and over 10 percent of households who have been in their home three to four years own a smart energy management device.
“Younger consumers also own multiple devices at higher rates — 4 percent own five or more smart energy management devices, and they are the majority of those most willing to purchase a smart home system,” said Tom Kerber, director, research, Home Controls & Energy, Parks Associates. “The market segment of consumers 25-34 years old is a key target for new smart home solutions that consolidate control of multiple devices through a smartphone or tablet.”