New technology is everywhere. Auto makers are racing to develop self-driving cars, coffee retailers are hoping you’ll use an app to order your morning coffee before you even enter the shop, and retailers hope to offer home delivery by drone in the not-too-distant future. On the consumer front, many Americans are readily embracing new technologies that help them more easily navigate their busy lives and be more productive in the process. When it comes to the walls in which we live, however, adoption rates for smart home products is still a work in progress.
And when we talk about “smart home technology,” we’re not just talking about a washing machine that can sense how big the load of clothing is or a lighting system that dims and brightens as the sun rises and sets. Rather, the broader smart home landscape covers a range of products and services that allow consumers to automate a number of household devices, appliances and functions according to their lifestyles. To date the most popular smart home products are smart thermostats, home security and monitoring systems and wireless speakers, but the category is rapidly expanding into other elements of the home.
While smart home technology is widely available and becoming more advanced at a rapid clip, most consumers are somewhat ambivalent about it. A recent study from The Demand Institute found that most consumers aren’t typically interested in technology for the sake of technology. In fact, the study found that only 36% of Americans are excited to incorporate technology into their homes, and just 22% say having the latest tech is important in their current or future homes. Today, just one in five U.S. households currently have a smart home product.
NIELSEN Consumer| 11-11-2015