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Don’t Underestimate the Effect of the ‘Cool Factor’ for the Smart Home

January 14, 2020 By Finley Engineering in

Many Finley broadband clients are investigating and launching services and products that enable the smart home. Some new research from SmartEnergy IPTM offers some revealing insight into end customer attitudes regarding the smart home.

According to this research smart home investment is being driven by the “cool factor.” More than a third (34.6%) of consumers thought technology such smart thermostats, security and smart lighting was “cool.”

Among other top reasons respondents were interested in a smart home:

  • 20% said it would help them save money on their energy bills
  • 4% said it would improve the security of their home
  • 1% selected convenience

The remainder of respondents said they had no interest in smart home at all.

Smart Home Attitudes
“This data suggests a shift in original thinking and marketing of smart home products,” said Juliet Shavit, President of SmartMark Communications and founder of SmartEnergy IP, in a prepared statement. “Previous data suggests that security was the top rationale for such purchases. We believe this new data will account for a shift in marketing strategy and engagement with these new products.”

Customers selected the following products and solutions in order of preference:

  • 8% put smart thermostats at the top of the list
  • 2% selected security
  • 9% selected smart lighting
  • 3% selected voice activation (like home assistants)
  • 2% motion sensors
  • 7% smart plugs

The remainder of respondents responded either none or offered an alternative.

“As a research firm that serves the energy sector, we were pleased to see the awareness and appreciation for smart thermostats and smart energy technology,” added Shavit. The company thinks that lifestyle and utility will converge in the coming year as smart home strategies become integrated and providers – both technology and service — collaborate to become more strategically aligned.