written by Kelly Leighton on September 09, 2021
When investing in smart home technology, consumers are looking for home security.
According to Frontier Communications, 49% of consumers said they use their smart home devices for security, 41% use it for alarms and notifications and 41% use it for news. Smart home devices saw an uptick in interest in 2020, as sales increased 4.5%. Eighty-six percent of respondents said they have at least one smart home device, with 76% owning entertainment smart devices, 65% owning security devices and 60% having a multifunctional hub.
For those not sure about the investment, 68% said they use their device more than they anticipated, with 59% using at least one particular feature more than they had expected. Overall, 71% said they found the smart home devices more beneficial than they had originally anticipated. What factors were consumers most impressed with? Three-quarters said the convenience of the technology, 62% said the usefulness, 49% said the time saving and 38% said the entertainment. Some owners were even surprised by how much smart home technology impacted their daily lives. Fifty-nine percent said they found them more convenient than expected, 52% found them more useful than originally thought and 40% found them more entertaining.
How about the return on these investments? Most homeowners said environmental and utility, along with security, offered the best return, followed closely by smart appliances, entertainment, and a multifunctional hub. Fifty-one percent said smart home devices positively impacted their lives “very much,” while 28% said it had a moderately positive impact. Only 3% said the devices had no positive impact. Overall, consumers said the technology impacted their happiness at home, safety and security, and productivity.
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Copyright Pennsylvania Association of Realtors®. Reprinted with permission. Originally published on https://www.parealtors.org
