The smart home industry has been at a perceived inflection point for some time. However, most smart product categories still have niche-level adoption and industry players continue to evaluate the best strategies to cross the chasm from early adopter to mainstream buyer. This research evaluates barriers to smart home adoption, such as high prices and privacy and security concerns, among consumers not currently engaged in the smart home market. It investigates the top drivers and barriers for smart home device adoption.
Executive Summary
Device Adoption in US Broadband Households (2010-2021)
Smart Home Devices: Affordability
Smart Home Devices: Perceived Value of Benefit
Smart Home Device Affordable & Value Groups
Top Smart Home Device Purchase Inhibitors
Smart Home Device Purchase Inhibitors by Affordable & Value Groups
Smart Home Purchase Promotors
Familiarity vs. Affordability vs. Value by Smart Home Device Ownership Segments
Smart Home Market: Proving Value to Consumers
Industry Performance Indicators
Smart Home Device Adoption
Tech Affinity, by Smart Home Device Ownership
Smart Home Device Adoption, 2017-2021 by Age
Smart Home Device Adoption, 2017-2021 by Tech Affinity
Smart Home Device Adoption, 2017-2021 by HH Income
Smart Home Device Adoption, 2017-2021 by Residence Type
Average Price Paid: Select Smart Home Devices
Purchase Inhibitors
Smart Home Device Purchase Inhibitors
Smart Home Device Purchase Inhibitors by Income
Smart Home Device Purchase Inhibitors by Age
Value/Affordability Segments by Smart Home Device Ownership & Intention
Smart Home Device Owners/User Segments
Purchase Intent by Owner/User Segment
Smart Home Device Purchase Inhibitors by Affordable & Value Groups
Smart Home Device Purchase Inhibitors by Education
Smart Home Device Purchase Inhibitors by Average Familiarity
Purchase Incentives
Smart Home Purchase Promotors – Top 10
Smart Home Device Purchase Incentives: Price
Product Price Discount as Purchase Promoter by Adoption Segments
Smart Home Device Purchase Incentives: Data Security and Privacy
Price Discounts and Local Data Storage as Purchase Promoters by Age
Smart Home Device Purchase Incentives: Device Benefits
Smart Home Device Purchase Incentives: Learning to Use a New Device
Free Year of Tech Support as Purchase Promoter, by Average Familiarity with Smart Home Devices
Smart Home Device Purchase Incentives: Device Integration
Smart Home Device Purchase Incentives: Device Setup
Familiarity, Value, and Affordability of Smart Home Devices
Smart Devices: Familiarity vs. Value vs. Affordability
Smart Devices: Familiarity
Smart Device: Perceived Value of Benefit
Smart Devices: Affordability
Smart Home Device Ownership Segments
Smart Home Device Ownership Segments by Income
Smart Home Device Affordable & Value Groups by Ownership Segments
Is Cost the Biggest Inhibitor? Affordability vs. Value
Smart Home Device Affordable & Value Groups
Smart Home Device Affordable & Value Groups by Income
Familiarity vs. Affordability vs. Value by Smart Home Device Ownership Segments
Smart Home Device Affordability by Adoption Segments
Smart Home Device Affordability & Household Income by Age
Smart Home Device Affordable Groups Income Breakdown
Smart Home Device Affordability by Lifestyle Attitudes
Agreement Towards Lifestyle Attitudes by Age
Agreement Towards Lifestyle Attitudes by Income
© January 2023 Parks Associates
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Disclaimer
Parks Associates has made every reasonable effort to ensure that all information in this report is correct. We assume no responsibility for any inadvertent errors.
