A new report from Parks Associates found that 42% of U.S. broadband households without a smart home device do not plan to purchase one. However, 17% stated they would consider purchasing one if smart home device pricing was lower. Lowering this cost barrier has the potential of adding 7.9 million more households to the population of smart home device owners. Smart home devices include appliances, thermostats, lights, alarms, doorbells, cameras, and voice-activated speakers, among other devices.
The study found that price was the most important factor when considering the purchase of a device, highlighting the importance of product bundling and discounts in attracting smart home device customers. More than 50% of those that do not plan to purchase a device stated that they do not see any benefits of smart home ownership — an attitude more prevalent among older adults.
Source: Parks Associates