Consumers Embrace Smart Home Technology
In a previous blog, I answered the question, “What is a Smart Home?” According to an article on CNBC, today’s homebuyers are embracing high-tech home gadgets like never before; figuring out how to integrate them into existing home systems. Plain and simple, the popularity of smart home gadgets has been a learning curve.
Is a Smart Home a Smart Investment?
“It’s been a lot of fragmentation in the industry, a lot of confusion among consumers as to which devices are the best to go with. Is there longevity here? If they install a system tomorrow, will it be around in the next year?” said Blake Kozak, principal analyst at IHS Markit, a merger of global information leaders. The company is harnessing the deepest sources of information, analytics and expertise to forge solutions for industries and markets that drive economies worldwide.
80 million smart home devices were delivered worldwide last year, which is a 64% increase from 2015. High on that list: Nest thermostats and smoke detectors, August smart locks, Ring video doorbells. A big chunk of it was also personal home assistants like Google Home, Bosch’s Mykie and Amazon’s Alexa.
Analysts say that growth will be even better in 2017 because the companies behind the technology are getting smarter about educating their consumers.
“The consumers today are incredibly confused as to what’s the value that they’re getting. A consumer could be spending upwards of $1,000 if they go to the retail market and they don’t understand what’s the value. Are they getting energy savings? Is it simply fun and they’re not going to want to use it in a couple weeks’ time?” said Kozak.
Is Consumer Education the Key?
I’ve personally noticed today’s homebuyers want a smart doorbell or thermostat, but the idea of a complete smart home is beyond their grasp. Experts expect that to begin to change this year as more innovations hit the market. Companies are also focusing on educating consumers and enhancing security so no one can hack your fridge. Voice assist will become much more commonplace, and the smart home will integrate with the smart car, so as you drive away, your home will know to turn the heat down. They predict at least 130 million smart home devices will be shipped worldwide this year.
If you’re looking to buy a smart home in Montecito, Hope Ranch or any of Santa Barbara’s upscale communities, just call me at 805.886.9378 or email me at Cristal@montecito-estate.com and we’ll begin your house hunting journey. I am also here to help homeowners sell their property in this beautiful part of the world!