Technology has reinvented how we as humans operate around our homes. New smart home inventions have made our lives way easier than we could have ever imagined.
Many of these inventions can perform different tasks based on voice recognition and orders. Believe it or not, one in four adults today own at least one smart speaker in their homes.
Many homeowners are favoring smart home technology more because it can save them money with their insurance. The added layer of security you invest in can show insurance companies that you are prioritizing home safety. As a result, they may deem you as a candidate less prone to risk. This is why a majority of households today have at least one smart home device, if not multiple.
The world of smart home technology is ever-growing and can feel overwhelming. You may feel unsure of what products you want to implement into your own home.
The following guide and statistics go over how smart home technology is increasing in popularity, as well as people’s underlying motivations. Based on what others have found useful, you may be able to narrow down which products you’d like to implement in your own home.
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Statistics From Survey Findings
The following data has been collected from a group of 1,000 respondents across the world. Continue reading for a better understanding of why they were motivated towards purchasing smart home products and how it has benefitted their lives.
1. Convenience and Safety Matter
46 percent of respondents shared that convenience was one of the leading reasons for purchasing smart home technology. Right below the need for convenience is the need for safety and protection. 37 percent of respondents shared that theft alarm systems were the primary source of safety for their homes.
2. Differing Gender and Age Views
Between men and women, there are a few differences when it comes to the reasoning for using smart home technology. Men’s reasoning for smart home devices is typically to lower their bills. On the other hand, women’s reasoning are for more security in the home.
In regards to security, those of older age believe that cameras are the best form of technology for the protection of the home. The younger crowd differed in views, as they believed automatic locks were the better option for security.
3. Increasing In Popularity
In terms of popularity, entertainment devices are the most popular form of smart technology in the home. Many families have admitted to having either smart TVs and smart speakers in their homes. With this technology becoming more widespread, we can estimate that there will be 481.9 million homes with smart technology in 2025.
Background of Smart Home Devices
In the past, the closest society got to smart home technology was in the movies and on TV. It may have seemed like an invention of the far distant future, but the reality is we have gotten closer than ever. While we have made much progress in the industry, there is still lots of room for improvement.
The first invention in smart home technology was back in 1898 with the first remote control. The remote control got more people thinking of what other advancements they could make to revolutionize technology. Before the world knew it, more and more advancements were made to make life easier for consumers.
Reasons for Using Smart Home Devices
While convenience is the overarching factor motivating people to use smart home devices, security plays a big role as well. This technology can provide an extra layer of protection and eyes around the home when you are not home. 17 percent of the respondents in the survey above mentioned that they primarily use smart home devices to keep their home safe when not there. 16 percent used these devices for their own security while being home.
As mentioned before, another big factor for using smart home technology is the lowering of utility bills. 15 percent of respondents chose this as their leading reason for purchasing the products. They see smart home devices as more of an investment that can save a lot of money in the long run. For example, smart thermostats are associated with a 10 percent reduction in heat costs.
Benefits of Smart Home Technology
Smart home technology can help identify appliance malfunctions early on. A few examples of appliance issues include fires or water leaks. If you leave these issues unnoticed, it can be very problematic for you in the future. Not to mention you’ll most likely run into extra costs to fix the mess made.
When it comes to water, 12 percent is wasted as a result of leaks. Incorporating artificial intelligence into your home can help prevent this. You may even be interested in implementing a smart water heater. Research shows that it can save roughly $4,500 in a span of 10 years. Similarly, smart fridges are very energy efficient. They can save you about $134 a year on your electricity bills.
Many people have outdoor cameras in their homes for added security. If you chose to use cameras, you may want to have three or five around your house. This way you can cover all your bases, and make sure intruders can be identified in all areas. Many people feel much more safe and comfortable knowing they have cameras patrolling the outside of their home.
Where is Smart Home Technology Going?
As time progresses, we will see many more homes implement smart home technology. Those who are putting their homes on the market are also keeping their smart devices in the homes as part of the sale. The reason for this is that homeowners can increase the value of their property with the addition of technology. New homes that are currently being built also are offering more smart home automation for homeowners.
Smart home technology is revolutionizing the way we design our homes. Many people rely on these devices for security and protection both in and outside of the home. Not to mention, the added sense of convenience they provide. We as humans live busy lives and can benefit extremely from the automation of certain tasks in our home. Check out Hippo’s findings for more information on the increasing popularity of smart home technology.