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Smart Homes - US - May 2019

Covered in this report

This report will examine the smart home market, top brands in the space, consumer smart home behaviors, consumer perception of smart homes, and consumer attitudes toward smart homes.

This report includes, but is not limited to, smart home hardware and services, including climate control, water management, home security, lighting, entertainment, cleaning, cooking, and home monitoring. Smart TVs are not included.

Smart home products are defined as those that satisfy one of the following criteria:

  • Electronic devices that communicate between themselves within the home;
  • Devices that can be remotely monitored/controlled using an app or website;
  • Devices that adjust operation based on observed behavior.

"The smart home is an all-encompassing term to capture the increasing trend of connected devices in the home. Consumers have more household functions available with the touch of a button or a call to a digital personal assistant. There are numerous options to incorporate smart or connected technology at home, spanning from home security to interior décor, and consumer trends are pointing towards an even more connected home in the future. Companies in the space need to understand the various motivations for consumers to incorporate smart technology or be left behind in a rapidly evolving industry."
- Buddy Lo, Senior Technology Analyst

This Report looks at the following areas:

  • Smart home market and brands
  • Smart home devices owned and considered
  • Smart speaker brands owned and considered
  • Smart speaker usage and behaviors
  • Consumer attitudes toward smart homes

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Overview
          • The issues
            • Fewer than half of consumers have adopted smart home devices
              • Figure 1: Number of smart home devices owned, March 2019
            • A better case needs to be made for smart speakers
              • Figure 2: Reasons for not considering a smart speaker, March 2019
            • Amazon dominates smart speaker market
              • Figure 3: Smart speaker brands owned, March 2019
            • The opportunities
              • Smart home brands must target younger homeowners
                • Figure 4: Smart home device ownership, by generation and homeownership, March 2019
              • Protecting the home and saving money are top motivators for smart home devices
                • Figure 5: Smart home areas of interest, by total and smart home device owners, March 2019
              • Opportunities for more smart speaker interactions among younger consumers
                • Figure 6: Smart speaker usage, by generation, March 2019
              • What it means
              • The Market – What You Need to Know

                • Homeownership rate may be starting to reverse after years of decline
                  • More consumers are buying home security systems
                    • Smart home environment is extremely fragmented and overlapping
                    • Market Breakdown

                      • Where’s home?
                        • Figure 7: US homeownership rates, Q1 2004-Q4 2018
                      • Millennials playing catch up on homeownership
                        • Figure 8: Primary residence, by generation, March 2019
                        • Figure 9: Generations, by plans to buy and move homes within the next year, March 2019
                      • Smart device ownership remains minimal
                        • Figure 10: Smart home products owned, March 2019
                      • Home security system ownership on the rise
                        • Figure 11: Home security ownership, 2012-18
                        • Figure 12: Home security purchasing, 2012-18
                    • Market Factors

                      • 5G connectivity on its way
                        • Zigbee vs Z-Wave vs Wi-Fi
                          • Porch pirates spur home security interest
                          • The Smart Home – What You Need to Know

                            • The smart home foundation is set by the big tech companies
                              • Smart speakers are the hub of the smart home
                                • Plug and play home security
                                  • Alarm.com home security software takes on bespoke home security
                                    • Samsung’s Bixby late to the party
                                    • Smart Home Key Players

                                      • Digital assistants and smart home platforms
                                        • Amazon – Alexa
                                          • Apple – HomeKit
                                            • Bosch & Siemens – Home Connect
                                              • Google – Google Assistant
                                                • LG – SmartThinQ
                                                  • Samsung – Bixby & SmartThings
                                                    • Smart speakers
                                                      • Figure 13: Smart speaker ownership and interest, March 2019
                                                    • Amazon
                                                      • Apple
                                                        • Google
                                                          • JBL
                                                            • Samsung
                                                              • Sonos
                                                                • Smart home monitoring & security
                                                                  • Figure 14: Smart home security and climate control device ownership and interest, March 2019
                                                                • Nest
                                                                  • Ring
                                                                    • ecobee
                                                                      • Figure 15: Amazon acquisition email, December 2018
                                                                    • SimpliSafe
                                                                      • Figure 16: SimpliSafe acquisition email, April 2019
                                                                    • SmartThings – ADT
                                                                      • Honeywell
                                                                        • Smart home appliances
                                                                          • Microwaves and microwave ovens
                                                                            • Figure 17: Smart microwave ownership and interest, March 2019
                                                                            • Figure 18: AmazonBasics Microwave promotional email, December 2018
                                                                            • Figure 19: Williams and Sonoma Easter acquisition email, April 2019
                                                                          • Refrigerators
                                                                            • Figure 20: Smart refrigerator ownership and interest, March 2019
                                                                            • Figure 21: Samsung Family Hub acquisition email, June 2017
                                                                          • Oven ranges
                                                                            • Figure 22: Smart oven ownership and interest, March 2019
                                                                        • What’s Working?

                                                                          • Amazon Echo leading smart speaker in the market
                                                                            • Smarthome.com a neutral third-party site to help consumers
                                                                              • Figure 23: Smarthome.com acquisition email, March 2019
                                                                              • Figure 24: Smarthome.com acquisition email volume, by month, Oct 2017-Mar 2019
                                                                              • Figure 25: Monthly online ad spend for Smarthome.com, January 2018-April 2019
                                                                            • Alarm.com product suite producing consistent revenue
                                                                              • Figure 26: Alarm.com total revenue, in millions, 2015-18
                                                                              • Figure 27: Coastal Protection direct mail, January 2016
                                                                          • What’s Struggling?

                                                                            • Non-tech company smart speakers
                                                                              • Samsung’s Bixby a little late to the scene
                                                                                • Apple HomeKit’s connectivity limits compatible devices
                                                                                  • Amazon discontinues Dash button
                                                                                  • What’s Next?

                                                                                    • Home health monitoring for seniors
                                                                                      • J&S automated smart windows
                                                                                        • Self-disinfecting kitchens and bathrooms
                                                                                          • eCommerce security solutions
                                                                                          • The Consumer – What You Need to Know

                                                                                            • Young Millennial homeowners are prime target for smart home devices
                                                                                              • Brands need to counter Amazon’s suite of Echo products
                                                                                                • Address interest in home improvement, maintenance, and property management
                                                                                                  • Target Home Futurists for style- and luxury-oriented smart home products
                                                                                                  • Smart Device Ownership and Interest

                                                                                                    • Smart home category still relatively new for consumers
                                                                                                      • Figure 28: Smart home device ownership and interest, March 2019
                                                                                                      • Figure 29: Number of smart home devices owned, March 2019
                                                                                                    • Homeownership key to usage (outside of smart speakers)
                                                                                                      • Figure 30: Smart home device ownership, by homeownership, March 2019
                                                                                                    • Younger Millennials are engaged participants in smart home products
                                                                                                      • Figure 31: Smart home device ownership, by generation, March 2019
                                                                                                      • Figure 32: Smart home device ownership, by Millennials and homeownership, March 2019
                                                                                                      • Figure 33: Primary residence, by generation, March 2019
                                                                                                    • Smart home usage is primarily among the young and wealthy
                                                                                                      • Figure 34: Smart home device ownership, by age and household income, March 2019
                                                                                                    • Smart speakers are the entry point of the smart home journey
                                                                                                      • Figure 35: Smart home devices owned, by number of smart home devices owned, March 2019
                                                                                                  • Smart Speaker Brand Ownership and Consideration

                                                                                                    • Amazon dominates
                                                                                                      • Figure 36: Smart speaker brands owned, March 2019
                                                                                                    • Google’s higher consideration rate gives it momentum
                                                                                                      • Figure 37: Smart speaker brands considered, March 2019
                                                                                                      • Figure 38: Smart speaker brands considered, by smart speaker brands owned, March 2019
                                                                                                    • Non-Amazon smart speakers more prevalent with higher device ownership
                                                                                                      • Figure 39: Smart speaker brands owned, by number of smart home devices owned, March 2019
                                                                                                      • Figure 40: Smart speaker brands considered, by number of smart home devices owned, March 2019
                                                                                                  • Reasons for Not Considering a Smart Speaker

                                                                                                    • Half of non-owners say they have no use for a smart speaker
                                                                                                      • Figure 41: Reasons for not considering a smart speaker, March2 019
                                                                                                    • Women more concerned about privacy compared to men
                                                                                                      • Figure 42: Reasons for not considering a smart speaker – Privacy concerns, by gender, March 2019
                                                                                                  • Smart Home – Areas of Interest

                                                                                                    • Security and climate control top consumer smart home areas
                                                                                                      • Figure 43: Smart home areas of interest, March 2019
                                                                                                    • TURF Analysis
                                                                                                      • Figure 44: TURF Analysis of smart home areas of interest, March 2019
                                                                                                    • Young homeowners show the most interest across all areas
                                                                                                      • Figure 45: Smart home areas of interest, by homeowners and renters, March 2019
                                                                                                      • Figure 46: Smart home areas of interest, by Millennials and homeownership, March 2019
                                                                                                    • Mom has eyes in the back of her head, in the hallway, the living room…
                                                                                                      • Figure 47: Smart home areas of interest, by gender and parental status, March 2019
                                                                                                      • Figure 48: Smart home areas of interest, by presence and age of children in the household, March 2019
                                                                                                    • Mom: “Jimmy clean your room!”...Jimmy: “Alexa clean my room!”
                                                                                                      • Figure 49: Smart home areas of interest, by primary residence, March 2019
                                                                                                    • Lookin’ smart – Tech and style go hand-in-hand for young homeowners
                                                                                                      • Figure 50: Smart home areas of interest, by Millennials and homeownership, March 2019
                                                                                                      • Figure 51: Meural Canvas at AT&T Chicago location, April 2019
                                                                                                  • Smart Speaker Usage

                                                                                                    • Majority of smart speaker owners play music, ask for general information
                                                                                                      • Figure 52: Smart speaker usage, March 2019
                                                                                                    • Younger Millennials most active with their smart speakers
                                                                                                      • Figure 53: Smart speaker usage, by generation, March 2019
                                                                                                    • More smart home devices leads to more frequent smart speaker engagement
                                                                                                      • Figure 54: Smart speaker usage, by number of smart home devices owned, March 2019
                                                                                                  • Smart Home Perceptions

                                                                                                    • Consumers associate smart homes with automation and modern
                                                                                                      • Figure 55: Smart home perceptions, March 2019
                                                                                                    • Gender divide on cost of smart homes
                                                                                                      • Figure 56: Smart home perceptions – Expensive, by gender and age, March 2019
                                                                                                    • Privacy concerns more pronounced among older generations
                                                                                                      • Figure 57: Smart home perceptions – Surveillance and energy efficient, by generation, March 2019
                                                                                                    • Homeownership impacts smart home perceptions among Millennials
                                                                                                      • Figure 58: Smart home perceptions, by Millennials and homeownership, March 2019
                                                                                                  • Attitudes toward Smart Homes

                                                                                                    • Smart home tech will have a growing presence in real estate
                                                                                                      • Figure 59: Attitudes toward smart homes, March 2019
                                                                                                      • Figure 60: Attitudes toward smart homes, by home movers/buyers/renovators, March 2019
                                                                                                    • Room for improvement with digital assistants among younger groups
                                                                                                      • Figure 61: Attitudes toward smart homes – Digital assistants, by generation, March 2019
                                                                                                    • Parents willing to trust a smart device, but possibly not their kids?
                                                                                                      • Figure 62: Attitudes toward smart homes – Purchasing, by parental status, March 2019
                                                                                                  • Consumer Segmentation – Attitudes toward Smart Homes

                                                                                                    • Four segments of consumers based on attitudes toward smart homes
                                                                                                        • Figure 63: Consumer segments, March 2019
                                                                                                      • Home Futurists
                                                                                                        • Characteristics
                                                                                                            • Figure 64: Profile of Home Futurists, March 2019
                                                                                                          • Opportunities
                                                                                                            • Figure 65: Smart home devices owned, by consumer segments, March 2019
                                                                                                            • Figure 66: Attitudes toward smart homes – Brand devices and digital assistants, by consumer segments, March 2019
                                                                                                          • Lifestyle image key for Home Futurists
                                                                                                            • Figure 67: Smart home perceptions, by consumer segments, March 2019
                                                                                                            • Figure 68: Smart speaker brands owned, by consumer segments, March 2019
                                                                                                          • Relationship Builders
                                                                                                            • Characteristics
                                                                                                                • Figure 69: Profile of Relationship Builders, March 2019
                                                                                                                • Figure 70: Attitudes toward smart homes – Voice controls and digital assistants, by consumer segments, March 2019
                                                                                                              • Opportunities
                                                                                                                • Figure 71: Reasons for not considering a smart speaker, by consumer segments, March 2019
                                                                                                              • Condo Retirees
                                                                                                                • Characteristics
                                                                                                                  • Figure 72: Profile of Condo Retirees, March 2019
                                                                                                                • Opportunities
                                                                                                                    • Figure 73: Smart home perceptions – Select items, by consumer segments, March 2019
                                                                                                                    • Figure 74: Addison Care CES 2019 exhibition, January 2019
                                                                                                                    • Figure 75: Addison Care CES 2019 demonstration, January 2019
                                                                                                                  • Smart Home DIYers
                                                                                                                    • Characteristics
                                                                                                                      • Figure 76: Profile of Smart Home DIYers, March 2019
                                                                                                                      • Figure 77: Attitudes toward smart homes – Professional installation, by consumer segments, March 2019
                                                                                                                    • Opportunities
                                                                                                                      • Figure 78: Areas of smart home interest, by consumer segments, March 2019
                                                                                                                  • Appendix – Data Sources and Abbreviations

                                                                                                                    • Data sources
                                                                                                                      • Consumer survey data
                                                                                                                        • Direct marketing creative
                                                                                                                          • Abbreviations and terms
                                                                                                                            • Abbreviations
                                                                                                                              • TURF Analysis – Methodology
                                                                                                                                • Figure 79: TURF Analysis, smart home areas of interest, March 2019

                                                                                                                            Smart Homes - US - May 2019

                                                                                                                            US $4,395.00 (Excl.Tax)