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Study Examines the Rapid Rise of Smart Homes

Smart devices are about as integral to society today as almost any form of technology that we use daily. As the world evolves, it certainly seems that entire homes are becoming equipped with enough smart devices for optimal convenience and security. But how do people respond to smart home technology in this day and age?

A new study from Cinch Home Services recently found that a majority of people have overall embraced the concept of smart home technology and have a positive sentiment toward it. Specifically, 77% of the 1,013 people surveyed have welcomed the increasingly common technology. That’s good news, considering that smart home tech is expected to grow 57% over the next five years.

A Positive Outlook

The survey showed that the perception of smart homes is mostly positive among younger generations, though even 69.2% of baby boomers said they feel positively toward smart home tech. Nearly 8 in 10 millennials said the same, as did 79.5% of Generation Zers and 75.4% of Gen Xers.

Convenience is by far the biggest reason for the embrace of this technology, with 94.3% of Gen Z respondents saying it was the biggest factor and 78.2% of baby boomers agreeing. Security was another top reason for the positive sentiment, with 70.1% of baby boomers saying they appreciated the security aspects of smart home technology, and 62.6% of millennials echoing the sentiment.

The least important aspect from respondents when it came to their positive perspective on this technology was energy saving, with just 40% of Gen Z respondents saying that saving energy weighed into their views.

Interestingly, the survey showed a definite correlation between income and a positive sentiment toward smart home technology. According to the results, 68.9% of those who shared a positive sentiment had an annual income of under $25,000, while 75.1% made between $25,000 and $49,999 per year. Nearly 82% of those who shared a positive perspective had an annual income of $50,000 to $100,000, and 80.2% made over $100,000 per year.

Desire for More

There also seemed to be a fairly strong desire among respondents to acquire more smart tech devices. Specifically, 51.3% of those surveyed who owned smart appliances and devices said that they were interested in buying another. Perhaps more telling, though, is the fact that just 18.5% of those who didn’t have a smart device or appliance said they planned to buy one.

A major consideration among respondents when it came to smart home technology was, unsurprisingly, cost. Almost 30% of those surveyed said they would be willing to pay between $100 and $250 for a smart device or appliance, and the percentages consistently dwindled as the prices went up. Fifteen percent of respondents said they would pay between $1,000 and $5,000 for a device or appliance, and only 3.4% said they’d shell out more than $5,000.

Trust in the Brands

The study also showed that among the 69.1% of respondents who owned at least one smart device or appliance, a majority owned more than one. What’s the breakdown of which devices were most prevalent among individuals surveyed? By generation, the top device was by far a home assistant or voice hub. Smart security cameras were the second most popular overall, but baby boomers specifically preferred smart thermostats and doorbells before cameras. Gen Z respondents’ top two devices were home assistants/voice hubs and smart lights.

The fact that voice hubs were the most popular across the board isn’t particularly surprising, given the fact that their price range can go from as low as $50 to over $400. That range of affordability is something that can’t be matched as easily by most other smart devices and appliances.

When it comes to these devices, for most respondents it was all about the brand. Trust in brands mattered significantly among 60.2% of respondents specifically, with Amazon being the overall most trusted. Just under 59% of those surveyed favored Amazon, while 57.8% preferred Google. The brand with the least preference among respondents overall was Sony, with just 41.7% saying it was a trusted brand.

Sony was, however, most popular among baby boomers – 45% said they trusted the company, compared to just around 41% among other generations. Interestingly, trust in Google was higher among younger generations, with 63.4% of millennials and 67.6% of Gen Zers saying they trusted the tech giant.

The Price Is Wrong

One aspect of the study that was particularly notable was the sentiment surrounding device and technology costs. With the average price of devices owned by respondents being $1,149.15, just over half said they feel prices are too high. However, 44% say they feel it costs just enough money to have smart devices.

With stimulus checks having been sent recently to Americans, there’s, of course, the question of what people would be spending their money on. Overall, 26.4% admitted at the time that they planned to spend some or all of their stimulus money on a smart home device or appliance.

What’s Next?

With technology advancing at an incredible rate, there is, naturally, more demand for smarter tech in various aspects of home life. When it comes to security cameras, which are popular among all generations, there’s a growing demand for more evolved smart technology – with 45% saying that smart security cameras could stand to be smarter. Smart lights also rated highly for advancement, with 31% saying they could see a need for smart lights to evolve.

Generally speaking, respondents were less interested in their sound systems, vacuums, and smoke alarms evolving technologically. Twenty-five percent expressed interest in sound systems becoming smarter, while only 22% said smart door-locking technology should evolve.

The advancement of smart tech is something that shows no sign of stopping anytime soon, and if the Cinch survey is any indication, people seem to welcome this evolution in many aspects of daily life.
Study Examines the Rapid Rise of Smart Homes
The most desired smart products this year include security cameras (33%), thermostats (32%), doorbells (30%), and lights (29%)
Among all companies offering smart home products, baby boomers are most trusting of Samsung.

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Written by Sean Kelly

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