When investing in smart home technology, consumers are looking for home security.
According to Frontier Communications, 49% of consumers said they use their smart home devices for security, 41% use it for alarms and notifications and 41% use it for news. Smart home devices saw an uptick in interest in 2020, as sales increased 4.5%. Eighty-six percent of respondents said they have at least one smart home device, with 76% owning entertainment smart devices, 65% owning security devices and 60% having a multifunctional hub.
For those not sure about the investment, 68% said they use their device more than they anticipated, with 59% using at least one particular feature more than they had expected. Overall, 71% said they found the smart home devices more beneficial than they had originally anticipated. What factors were consumers most impressed with? Three-quarters said the convenience of the technology, 62% said the usefulness, 49% said the time saving and 38% said the entertainment. Some owners were even surprised by how much the smart home technology impacted their daily lives. Fifty-nine percent said they found them more convenient than expected, 52% found them more useful than originally thought and 40% found them more entertaining.
How about return on these investments? Most homeowners said environmental and utility, along with security, offered the best return, followed closely by smart appliances, entertainment and a multifunctional hub. Fifty-one percent said smart home devices positively impacted their lives “very much,” while 28% said it had a moderate positive impact. Only 3% said the devices had no positive impact. Overall, consumers said the technology impacted their happiness at home, safety and security and productivity.