Security seen as primary benefit of smart home technology, study finds

According to a study recently conducted by Harris Poll on behalf of home improvement retailer Lowe’s, security and home monitoring was one of the main reasons people said they would consider purchasing smart home technology.

The “Lowe’s 2014 Smart Home Survey,” which polled more than 2,000 U.S. adults 18 years and older, found that a majority of American are generally favorable to smart homes, with 50 percent preferring do-it-yourself (DIY) solutions. Nearly two-thirds (62 percent) ranked security and home monitoring as the most beneficial reason to own a smart home. Cutting energy costs ranked second on the list (40 percent), followed by overall convenience comes (35 percent) and protection from floods, fire and other disasters (29 percent).

Overall cost was cited by respondents as the most important factor in the purchasing decision of smart home products. Additionally, the survey found that Americans are more than twice as likely to prefer a DIY solution without a monthly fee over a professional installed/monitored system with a monthly service fee (50 percent vs. 21 percent).

"In general, Americans feel positively toward products that will make their homes safer, more energy efficient and easier to manage. It is added evidence that the smart home and Internet of Things are here to stay," Kevin Meagher, Lowe's vice president and general manager, Smart Home, said in a statement.