Smart home devices are basically everywhere now, but some people are still holding out on inviting internet-connected appliances into their home. So what would finally get them to adopt the Internet of Things? Well, saving some money would help. That’s the primary area of interest for households that don’t currently have a smart home device, according to a recent survey conducted by Parks Associates.
The study focused on households in the United States that have a broadband internet connection but haven’t purchased an internet-connected appliance yet. Of those surveyed, 60 percent said they would consider purchasing a smart home device if it could help them save money in the long term. Seeing as most smart home devices come with a steeper price tag up front, the devices will have to do things like cut down on the electricity bill or save money in other ways.
Another 55 percent of people would be more interested in smart home devices if the initial cost of investment came down a bit, which will likely happen as the products become more common and readily available.
The second-most enticing option for getting folks to make the move to smart home products also involves saving money. Just under six in 10 people said they would buy an internet-connected device if they received a discount on their home insurance premium as a result. Some insurance companies do offer rate cuts if people are willing to install smart home security cameras, internet-connected thermostats, or other products that can help save money or secure the home.
While many smart home products are focused on security, people still have their doubts about the security of the devices themselves. That’s why about 50 percent of those surveyed said they would be interested in internet-connected devices if they were given more control over their own data and how it is collected and used by companies.
“Connected products are innovating our lives,” said Jennifer Mallett, CEO and president of Level Up Your Home — a national network of smart home professionals and experts. “Service experiences need to be designed to meet that innovation in order to drive anticipated adoption and a more effortless ownership experience.”