According to the results of a new survey from August Home and Comcast Xfinity Home, security remains the largest motivating factor for consumers interested in purchasing smart home technology. In fact, of the 1,300 U.S. adults surveyed for "The Safe & Smart Home: Security in the Smart Home Era" study, 63 percent indicated that family safety was the biggest motivator for them in adopting the technology. Convenience also ranked high on the list as 54 percent said that being able to turn on lights after dark was important in their decision to buy smart home products, followed by the ability to provide remote access to service providers at 22 percent.
"Smart home technology is creating a new paradigm for home security," Jason Johnson, CEO of August Home Inc, said in a statement. "The new era of smart security and smart home products offer consumers visibility and control over their homes that previously had not been available with traditional security systems."
When asked what events would cause them to get a home security system installed, neighborhood break-ins (46 percent) topped the list among survey respondents, followed by moving into a new house (26 percent), home remodeling (14 percent), managing a rental property (six percent), and having a baby (five percent). Among the most coveted smart home features were connected cameras (40 percent), video doorbells (26 percent), connected light bulbs (19 percent) and smart locks (13 percent). The survey also found that home security adopters continue to value traditional features such as 24/7 call center monitoring that have served as the bedrock of the home security market for decades.
In addition, nearly 18 percent of survey respondents said they’d likely buy a new smart home product over the next 12 months, including 56 percent of those who already have installed at least one smart home product in their home. In addition, 12 percent of those without smart home technology said they were planning on buying a smart home product in the next 12 months, which would effectively double smart home ownership over the next year to 30 million households.
"The smart home industry is still a young market," said Michael Wolf, chief analyst for NextMarket Insights, which conducted the survey. "But consumer awareness is growing rapidly as new offerings with clear value come to market. This research reinforces our belief that product categories which provide tangible help in meeting consumer needs such as family safety or work-life balance will experience significant growth in end user adoption over the next five years."