It wasn’t too many years ago that smart-home technology was thought to be the stuff of the Jetsons – sci-fi products that we might see some day in the far distant future. Well, the future is now. And the trend could have widespread implications for those people thinking about selling their home this year or shopping for a new home themselves.
Smart home products are quickly catching on with consumers, everything from remote controlled thermostats and lighting to home monitoring cameras and security systems to advanced entertainment systems and even refrigerators that let you see what’s inside without opening the door – and then ordering groceries right from the door itself!
The Coldwell Banker® Smart Home Marketplace Survey, which polled more than 4,000 Americans in advance of last month’s big Consumer Electronics Show in Las Vegas, found that just under half (45 percent) of all Americans either own smart home technology or plan to invest in it in 2016, while eight out of 10 consumers using smart home products said they would be more likely to buy a home if smart technology was already installed.
“From the living room to the yard, consumers are embracing smart home technology,” said Lindsey Turrentine, editor-in-chief of CNET.com, which is partnering with Coldwell Banker on a smart home test in Kentucky. “This market will continue to develop as the technology becomes even more mainstream. This innovation has made its way into homes faster than many expected, and that once a homeowner tries a connected device, that person is ready to experiment with more smart products.”
According to the Consumer Technology Association, smart home technology represents a $1.2 billion market this year, up 20 percent from year a year ago.
“The connected home is here, and its influence on everything from home pricing to curb appeal to how we move through our daily lives is transforming right before our eyes,” said Coldwell Banker Chief Marketing Officer Sean Blankenship.
The Coldwell Banker survey confirms that many of today’s buyers are expecting smart home features when they shop for a home. Consumers are seeing the convenience and benefits of products such as automated lighting and temperature control, understanding how this technology makes the home more comfortable, convenient and energy-efficient. And with more buyers favoring homes with smart features, the survey found more sellers say they plan to upgrade their home with smart home products.
CNET and Coldwell Banker are partnering on a test smart home in Kentucky, a “living laboratory” where its editorial team will explore how smart home products behave, interact and test in everyday environments.
But homeowners don’t have to wait for the findings of those tests to learn what type of smart products consumers favor. Here are some of today’s most popular smart home devices as determined by the recent Coldwell Banker survey:
- Entertainment systems. The most popular type of smart home technology that people already own is smart entertainment, such as smart TVs and speaker systems, according to the Coldwell Banker survey. Some 44 percent of people surveyed already have these devices in their home.
- Home security systems. The next most popular type of smart home technology that people currently have installed in their home according to the survey is smart home security (31 percent). In addition to traditional systems, these may include video monitors inside and outside the house that you can view on a smart phone from anywhere you happen to be.
- Smart temperature controls. According to the Coldwell Banker survey, 30 percent of consumers polled already have devices like smart thermostats. These smart devices can be programmed remotely via your computer or mobile device so that the temperature is just right when you get home. And many quickly learn your habits so they will soon be able to turn themselves up or down at just the right time and just the right amount, based on what you’ve done in the past. Some related products on the market now include water and humidity monitors to alert you to any leaks in your house while you’re away.
So as you can see, the smart home of the future is already here today.
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