2016 is the year smart home technology will be mainstream. Almost half (45 percent) of all Americans either own smart home technology or plan to invest in it in 2016, according to the Coldwell Banker Smart Home Marketplace Survey, which polled more than 4,000 Americans in advance of CES 2016.
The year 2020 has long been a benchmark for when the “smart home” will finally be mainstream, but according to the results of a survey released today by Coldwell Banker Real Estate LLC, the original Silicon Valley real estate start-up founded in 1906, that time may come sooner than we thought.
The survey also showed that it’s not just the tech-savvy who are on board with the smart home. Of people who either have smart home technology or plan to buy it in 2016, more than one in three (36 percent) say they don’t consider themselves early adopters of technology.
The Smart Home Marketplace Survey also found that more than half of homeowners (54 percent) would purchase or install smart home products if they were selling their home and knew that doing so would make it sell faster. Of that group, 65 percent would pay $1,500 or more.
- Entertainment -the entry-way for smart home technology:
– The most popular type of smart home technology that people already own is smart entertainment, such as smart TVs and speaker systems (44 percent of people with smart home technology).
– The next most popular types of smart home technology that people currently have installed in their home include smart security (31 percent) and smart temperature (30 percent).
- “Smart” = smart security, temperature, lighting and safety
– When asked about what needs to be in a home for it to be considered “smart,” the top choices were security (e.g., locks and alarm systems – 63 percent), temperature (e.g., thermostats and fans – 63 percent), lighting (e.g., light bulbs and lighting systems – 58 percent) and safety (e.g., fire / carbon monoxide detectors and nightlights – 56 percent).
– More than three-quarters (76 percent) of Americans think that having just one category of smart technology in your home isn’t enough for it to be considered smart.
- Smart home technology is no longer just for the young and affluent.
- Older generations are adopting certain types of smart home technology faster than younger ones. For instance, 40 percent of those over 65 who own smart home products currently have smart temperature products, compared to only 25 percent of Millennials (ages 18 to 34).
- Buying smart home products is in one word – addicting.
- Seventy (70) percent of people with smart home technology said buying their first smart home product made them more likely to buy another one.