SAN DIEGO — Growing awareness and demand for smart home solutions has reached mass market scale, according to survey results from global technology research firm ON World.
“The majority of U.S. consumers express interest in smart home products and services and 20 percent are likely to adopt within the next two years,” said Mareca Hatler, ON World’s research director. “Large scale cloud-based sensing and control solutions are driving costs down for advanced user applications making this market an investor gold rush.”
Two in five of the survey’s respondents are willing pay a service fee for a smart home service and 35 percent are willing to pay at least $15 per month. The segments that are most likely to pay for a smart home service include males and young adults who are also willing to pay a higher smart home service fee.
The most popular smart home wireless sensing products are smart thermostats, smart light bulbs, and video security cameras with growing adoption of smart appliances and smoke detectors. After cost, the most important purchasing considerations are whole-home coverage, system integration, and a single app interface.
If U.S. households adopt smart home wireless sensing services at the levels indicated by the survey, this represents a potential $14 billion market.
The survey is part of ON World’s series of reports on Smart Home Wireless Sensor Networks based on surveys and interviews with 2,000+ individuals. These reports cover 20+ product segments for home energy management, smart home lighting, safety and security, and smart appliances sold through the managed services, retail/DIY, and professional installer channels. Each report is offered separately or as part of a report set.
More information and free executive summaries are available from ON World’s website at www.onworld.com.
Publication date: 10/19/2015