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Smart Homes - US - June 2018

Smart home hardware can be divided into two categories, those that provide convenience (eg thermostats, pet feeders, smart lighting, cleaning robots) and those that provide security (eg alarm systems, smoke and leak detectors). Both segments carry interest in ownership among the majority of the US population, and both are also arenas in which hardware sales are supported by monthly subscription services.

- Billy Hulkower, Senior Technology Analyst

This report will look at the following areas:

  • Cost chief obstacle
  • DIY a hindrance to subscription sales
  • Limited reasons to monitor

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Overview
          • The issues
            • Cost chief obstacle
              • Figure 1: Negative characteristics associated with smart home tech, April 2018
            • DIY a hindrance to subscription sales
              • Figure 2: Subscription and interest in subscription to home security and automation services, April 2018
            • Limited reasons to monitor
              • Figure 3: Motivations for home monitoring, April 2018
            • The opportunities
              • Market far from saturated
                • Figure 4: Ownership and interest in purchase – Convenience products, April 2018
                • Figure 5: Ownership and interest in purchase – Security products, April 2018
              • Convenience products hit their stride
                • Figure 6: Annual sales gains by segment, 2014-18
              • Emphasizing disaster prevention
                • Figure 7: Positive characteristics associated with smart home tech, April 2018
              • What it means
              • The Market – What You Need to Know

                • “Works with” promotes growth
                  • Security falls from lead
                    • More limited potential for alarms, in-home monitoring
                    • Market Size

                      • Familiarity and integration propel sales 2016-18
                        • Figure 8: US manufacturer sales of smart home devices, at current pricing, 2013-18
                        • Figure 9: Smart home devices, incremental sales gains by segment, 2014-18
                    • Market Breakdown

                      • Connected home carries growth
                        • Installation weighs in on purchases
                          • Robots gain functions
                            • Pets are people too
                              • Figure 10: Total US manufacturer sales of smart home devices, by segment, at current prices, 2016 and 2018
                              • Figure 11: Total US manufacturer sales of smart home devices, by segment, at current prices, 2015-18
                          • Market Factors

                            • Pets and independent seniors loom large
                                • Figure 12: Motivations for home monitoring, April 2018
                              • Neighborhood networks increase awareness of crime
                              • Key Players – What You Need to Know

                                • Familiarity beats expertise
                                  • Specialists less trusted
                                    • Buyouts offer specialists deeper pockets
                                    • What’s Working?

                                      • Largest, oldest brands most trusted
                                          • Figure 13: Smart home brands with high levels of trust, April 2018
                                        • Smartphones as interface
                                          • Figure 14: Hardware used for home control/monitoring, April 2018
                                          • Figure 15: Cox Homelife direct mail marketing, May 2017
                                          • Figure 16: CPI Security systems direct mail marketing, June-July 2017
                                      • What’s Struggling?

                                        • Specialists less well-regarded
                                          • Bumpy rode ahead for Logitech
                                            • Netgear spins off Arlo
                                              • Ecobee hamstrung by marketing spend
                                                • Figure 17: Smart home brands with low levels of trust, April 2018
                                            • What’s Next?

                                              • Nest and Ring grow brand names
                                                • Figure 18: Trust in smart home brands (Nest and Ring), April 2018
                                              • Voice control
                                                • Figure 19: Interfaces used for home control/monitoring, April 2018
                                                • Figure 20: Use of voice-centered hardware and interfaces to control smart home, by age, April 2018
                                            • The Consumer – What You Need to Know

                                              • Majority of adults interested in both product segments
                                                • Most products carry potential sales to a third of all households
                                                  • Young men top target
                                                    • Moving away from home security
                                                      • Subscriptions appeal to a more limited base
                                                      • Ownership and Interest in Purchases

                                                        • Market far from saturated
                                                          • Figure 21: Ownership and interest in purchase – Convenience products, April 2018
                                                        • Fire top safety concern
                                                          • Figure 22: Ownership and interest in purchase – Safety products, April 2018
                                                        • Near universal interest among young men who own homes
                                                            • Figure 23: Ownership and interest in convenience products, CHAID tree output, April 2018
                                                            • Figure 24: Ownership and interest in safety products, CHAID tree output, April 2018
                                                        • Security and Automation Services

                                                          • DIY solutions put pressure on subscriptions
                                                            • Figure 25: Subscription and interest in subscription, April 2018
                                                          • Young men more likely to be interested in adding service
                                                            • Figure 26: Subscription and interest in subscription, by gender and age, April 2018
                                                          • Gains to be made in middle-income groups
                                                            • Figure 27: Subscription and interest in subscription, by household income, April 2018
                                                          • Treating the concerns of parents lightly
                                                            • Figure 28: Subscription and interest in subscription, by parental status, April 2018
                                                            • Figure 29: Xfinity home email marketing, March 2017
                                                          • Focusing on larger markets
                                                            • Figure 30: Subscription and interest in subscription, by area of residence, April 2018
                                                          • Seeking security switchers among homeowners
                                                            • Figure 31: Subscription and interest in subscription, home security, and automation, by homeownership, April 2018
                                                        • Positive and Negative Associations

                                                          • Home safety and cool tech top positives
                                                            • Figure 32: Positive characteristics associated with smart home tech, April 2018
                                                          • Young men see cool tech
                                                            • Figure 33: Positive characteristics associated with smart home tech, by gender, April 2018
                                                          • Cost tops list of negative associations
                                                            • Figure 34: Negative characteristics associated with smart home tech, April 2018
                                                            • Figure 35: Negative characteristics associated with smart home tech, by homeownership, April 2018
                                                          • Young men less likely to view expense as problematic
                                                            • Figure 36: Negative characteristics associated with smart home tech, by gender and age, April 2018
                                                        • Appendix – Data Sources and Abbreviations

                                                          • Data sources
                                                            • Sales data
                                                              • Consumer survey data
                                                                • CHAID analysis methodology
                                                                  • Direct marketing creative
                                                                    • Abbreviations and terms
                                                                      • Abbreviations
                                                                        • Terms
                                                                        • Appendix – The Market

                                                                            • Figure 37: US manufacturer sales of smart home devices, at inflation-adjusted prices, 2013-18
                                                                            • Figure 38: US manufacturer sales of selected products, at current prices, 2016 and 2018
                                                                        • Appendix – The Consumer

                                                                            • Figure 39: Positive characteristics associated with smart home tech, by household income, April 2018
                                                                            • Figure 40: Positive characteristics associated with smart home tech, by race/Hispanic origin, April 2018

                                                                        Smart Homes - US - June 2018

                                                                        US $4,395.00 (Excl.Tax)