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Smart Homes - US - January 2017

"Smart home product sales continue to represent a small slice of expenditures on the home despite sales growth leaving room for further expansion. This Report explores how consumers view smart home hardware and home security services, providing perspective on the obstacles to growth that are preventing wider adoption."
- Billy Hulkower, Senior Analyst, Technology and Media

This Report discusses the following key topics:

  • Smart home not prioritized in spending
  • Known brands more trusted than specialists
  • Even most popular products desired by minority

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • The issues
          • Smart home not prioritized in spending
            • Figure 1: Manufacturer sales of smart home hardware, at current prices, 2012-17
          • Known brands more trusted than specialists
            • Figure 2: Top brands trusted to make smart hardware, October 2016
          • Even most popular products desired by minority
            • Figure 3: Interest in smart home hardware, October 2016
          • The opportunities
            • Seeing green
              • Figure 4: Saving energy as a moral good and interest in greening home, by location of home, October 2016
            • Safety moves indoors
              • Figure 5: Interest in indoor monitoring among caretakers of pets, elderly, and children, October 2016
            • Pets, kids propel new interest in security service
              • Figure 6: Subscription service drivers and usage – CHAID – Tree output, October 2016
            • Breakout products can shape market
              • What it means
              • The Market – What You Need to Know

                • Security reigns, but connectivity drives growth
                  • Room for growth inside broader household spending
                    • Indoor cameras and greening the home
                    • Market Size and Forecast

                      • Sales clear $7 billion in 2016
                        • Individual products shape market
                          • Figure 7: Manufacturer sales of smart home hardware, at current prices, 2012-17
                          • Figure 8: Manufacturer sales of smart home hardware, at current prices, 2012-17
                      • Market Breakdown

                        • Security remains industry bulwark
                          • Figure 9: Manufacturer sales of smart home hardware, by segment, 2016
                          • Figure 10: Manufacturer sales of smart home hardware, by segment, 2012-17
                      • Market Perspective

                        • Total spend on homes dwarfs smart home hardware
                            • Figure 11: Best- and worst-case forecast value sales of home and garden, at current prices, 2010-20
                        • Market Factors

                          • Pets, kids, elderly create interest in monitoring
                            • Figure 12: Interest in indoor monitoring among caretakers of pets, elderly, and children, October 2016
                          • Pet owners
                            • Figure 13: Type of pet owned, June 2016
                          • Households with children
                            • Figure 14: Interest in smart home hardware by parental status and age of children, October 2016
                            • Figure 15: Households, by presence and ages of own children, 2016
                          • Elderly population growing
                            • Figure 16: Population by age, 2012-22
                          • Rising electricity costs restrained
                            • Figure 17: Cost per KwH in US, 2010-15
                          • Saving energy as a moral principle
                            • In their own words:
                              • Cultural divide in impression of conservation as a moral issue
                                • Figure 18: Energy conservation and interest in greening the home, by location of home, October 2016
                                • Figure 19: Energy conservation and interest in greening the home, by level of education, October 2016
                            • Key Players – What You Need to Know

                              • Samsung, Apple, LG most trusted brands
                                • Newer brand names face uphill battle
                                  • Growth ahead for DIY security, indoor monitoring, voice interfaces
                                  • What’s Working?

                                    • Mobile hardware brands most trusted
                                      • Figure 20: Top brands trusted to make smart hardware, October 2016
                                    • ADT continues dominance in security
                                      • Figure 21: Home security service provider, October 2016
                                  • What’s Struggling?

                                    • Tough choices in creating new brand names
                                      • Figure 22: Second-tier of brands trusted to make smart hardware, October 2016
                                  • What’s Next?

                                    • Model smart homes
                                      • DIY installation
                                        • Figure 23: DIY vs professional installation for home security and automation, October 2016
                                      • Indoor monitoring
                                        • Figure 24: Lifestyle factors contributing to the need for indoor monitoring, October 2016
                                      • Voice control via digital assistants
                                        • Figure 25: Interest in voice control for TVs and stereos, October 2016
                                      • Humanizing digital assistants
                                        • Figure 26: Gatebox holographic digital assistant, December 2016
                                    • The Consumer – What You Need to Know

                                      • Remote monitoring for lights, cameras, thermostats
                                        • Younger adults see more value in remote monitoring
                                          • Smart homes not for everyone
                                            • Parents top target
                                              • Security service a discretionary purchase
                                                • Older, higher-income groups keen on efficiency
                                                • Interest in Remote Access

                                                  • Limited demand for remote access
                                                      • Figure 27: Interest in remote access to home appliances, October 2016
                                                    • Age clearest determinant of interest in remote monitoring
                                                      • Figure 28: Interest in remote access to home appliances, by age, October 2016
                                                      • Figure 29: Interest in remote access to entertainment products and major appliances, by age, October 2016
                                                    • Differences by race/ethnicity limited
                                                      • Figure 30: Interest in remote access to home appliances, by race/Hispanic origin, October 2016
                                                    • Highest-income households least interested in remote access
                                                      • Figure 31: Interest in remote access to home appliances, by household income, October 2016
                                                    • Parents keen on controlling appliances from phones, computers
                                                      • Figure 32: Interest in remote access to home appliances, by parental status, October 2016
                                                  • Interest in Owning Smart Home Products

                                                    • Security, thermostats have greatest potential
                                                      • In their own words:
                                                          • Figure 33: Interest in smart home products, October 2016
                                                        • Parents top target
                                                          • Figure 34: Interest in smart home products, by age, October 2016
                                                          • Figure 35: Interest in smart home products, by parental status and age of children, October 2016
                                                        • Hispanics, urbanites show elevated interest
                                                          • Figure 36: Interest in smart home products, by Hispanic origin, October 2016
                                                          • Figure 37: Interest in smart home products, by location of home, October 2016
                                                      • Attitudes to Energy-efficient Products

                                                        • Efficiency worth premiums
                                                          • Figure 38: Attitudes to energy-efficient products, October 2016
                                                        • Older ages see more value in energy-efficiency
                                                          • Figure 39: Attitudes to energy-efficient products, by age, October 2016
                                                          • Figure 40: Attitudes to energy-efficient products, by race and Hispanic origin, October 2016
                                                        • Experience matters
                                                          • Figure 41: Attitudes to energy-efficient products, by household income, October 2016
                                                      • Home Security Subscription

                                                        • Service linked more to income than safety
                                                          • Potential for growth in middle-income groups
                                                            • Figure 42: Home ownership and subscription to a home security service, by household income, October 2016
                                                          • Homes with pets and kids best option for expansion
                                                            • Figure 43: Home security subscription service drivers and usage – CHAID – Table output, October 2016
                                                            • Figure 44: Subscription service drivers and usage – CHAID – Tree output, October 2016
                                                        • Appendix – Data Sources and Abbreviations

                                                          • Data sources
                                                            • Sales data
                                                              • Fan chart forecast
                                                                • Qualitative research
                                                                  • Consumer survey data
                                                                    • CHAID analysis methodology
                                                                      • Abbreviations and terms
                                                                        • Abbreviations
                                                                        • Appendix – The Market

                                                                            • Figure 45: Manufacturer sales of smart home hardware, at inflation-adjusted prices, 2012-17

                                                                        Companies Covered

                                                                        To learn more about the companies covered in this report please contact us.

                                                                        Smart Homes - US - January 2017

                                                                        US $3,995.00 (Excl.Tax)