Thirty-eight percent of respondents to a Parks Associates’ research study self-identify as smart home “early majority” adopters, an increase from 20% in 2020.
The study, which was done in conjunction with the Connectivity Standards Alliance (CSA), found that 13 million households have become smart homes since 2020. The study says that 54 million households now own a smart device.
The white paper based on the study, titled “Smart Home Evolution: Unlocking Value,” says that the growth is enabling broader adoption of individual product categories and greater efficiencies of scale. New households have “distinctly different expectations and needs” compared to early smart home adopters. In other words, the sector is evolving and presenting new opportunities and challenges to the ecosystem that supports it.
Highlights from the white paper:
- 63% of households with kids own at least one smart home product, compared to 37% of those without kids. Households with kids are more likely to recommend the products they own to others.
- 52% of smart home device owners who set up a device themselves had difficulty at setup.
- 55% of consumers in U.S. internet households find disaggregated energy insights appealing — that is, the amount of energy each device and appliance in their home consumes.
- 65% of smart thermostat owners are willing to allow their smart devices and appliances to share data with each other to better optimize energy use.
- 90% of businesses are using artificial intelligence (AI) internally, and 79% are building AI into their consumer-facing products and services.
“The smart home market is entering a new phase, one where trust, simplicity, and real-world value matters,” Tobin Richardson, CSA’s president and CEO, said in a press release.
“As the market has grown, the base of households owning smart home devices has expanded beyond tech enthusiasts to more practical users seeking lasting value and reasonable costs,” Parks Associates’ Vice President of Research Jennifer Kent said in a press release. “As the market moves into this next phase, new layers of value, including integrations/interoperability, intelligence, and the development of services, are needed.”