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Homeowners Embrace Smart Home Solutions

As technology evolves, so does the demand for gadgets that make our life easier. Just about everyone has a smart phone in the palm of their hands. These devices allow us to browse the Internet, make phone calls and entertain ourselves. Technology also allows us to manage our personal finances from any location. 

Maybe you thought it couldn't get any better. However, smart home technology takes automation and convenience to a whole new level.

What Is Smart Home Tech?

Smart home technology lets homeowners seamlessly control different home systems remotely or through automation. The technology is adaptable to each family’s unique lifestyle, with the goal of making their lives simpler—and saving them money.

This technology is fairly new, but new research shows that consumers are embracing these solutions with open arms. According to a 2015 study from Coldwell Banker Real Estate and CNET provided by Harris Poll, about 28% of U.S. Internet users also used smart home solutions. It probably comes as no surprise that 47% of smart home technology users were millennials, whereas 42% of users have children under the age of 18 living in the home.

On average, those using the technology were satisfied. The ability to remote control security systems and view security cameras remotely from a smartphone provides a better sense of security. Some who use smart home solutions to control thermostats also enjoyed a reduction in heating and cooling costs. 

A 2016 study conducted by August Home and Xfinity projected that nearly 30 million U.S. households would have some form of smart home technology within the next 12 months. For example:

  • Video camera
  • Video doorbells
  • Connected lightbulbs
  • Smart locks

“The smart home industry is still a young market,” said Michael Wolf, chief analyst for NextMarket Insights, “But consumer awareness is growing rapidly as new offerings with clear value come to market. This research reinforces our belief that product categories which provide tangible help in meeting consumer needs such as family safety or work-life balance will experience significant growth in end-user adoption over the next five years.”

The reasons for adopting this technology varies by person. However, family safety (63%) and convenience (54%) were two top motivators, according to the Xfinity study.

Added security and greater control of our homes from remote locations opens the door to many possibilities. Who knows, in a few years, homeowners might be comfortable with service providers entering their homes while they’re away at work. They can unlock their home from a remote location so service providers can enter, and then monitor the situation from any location using their smartphone.

Bottom Line

Technology is the future and smart home solutions are growing in popularity. Embracing a smart home lifestyle not only saves time, it can also save money.