Consumers find smart home technology a big turn-off and companies are struggling to put across the benefits of the internet of things, according to a new report.Just over seven out of 10 consumers are unwilling to pay for smart devices in the next five years, says a survey by accountancy firm PwC.Although many who have made the investment are pleased with their purchase, few are bothering to outlay the cash to upgrade to smart technology such as intelligent heating, plugs, appliances, lighting or automated devices.The survey also revealed consumers are keener to find out more about smart technology when they can see a cost benefit, such as energy savings or free supply and installation.PwC also looked at the smart devices selling best.
The tech industry is in full swing to embrace the Internet of Things (IoT) and the ways in which it could revolutionise business and our daily lives, but new research has revealed that consumers do not share the same level of excitement for smart technology.PwC surveyed over 2,000 people and found that almost three quarters of consumers have no interest in putting smart technology into their homes in the coming years. This greatly contradicts the vision of the smart home that consumer electronics companies have been peddling over the past few years in which every house will have a fridge, a coffee maker, a thermostat and a host of other devices that communicate with one another and the cloud to offer a better experience to consumers.
Improved connectivity, new devices and automation have led to a wide range of new smart home products with nearly half (46%) of consumers in the UK, France and Germany expecting to be living in a smart home within the next three to five years. In Germany, nearly a quarter (22%) believes that smarter living will be a reality within a year according to new research announced by CONTEXT, the leading European IT market analysis company.For many consumers it is the promise of greater convenience, cost savings and security that drives smart home aspirations. Having their home ready for when they return by turning on the heating and lights, and having their favourite TV programmes ready when they walk in the door, is the most desired aspect of a smart home.
The Internet of Things has a lot of hype, but also plenty of hope that it will make a Jetsons-like future a reality. But the number of companies that have been able to penetrate the public consciousness and acceptance into U.S. homes is considerably small. Outside of Nest, SimpliSafe, and maybe iRobot, adoption of IoT devices by the general public has been relatively small.The Internet of Things, however, has made inroads outside of the home and in the industrial building space. And the reasons are two-fold.