New research from GfK reveals that people’s appetite for managing their homes – including heating, security, entertainment systems and even household appliances – appeals to more than three quarters (76 percent) of people.
Appetite for the benefits of the smart home is highest amongst younger age groups, reaching 90 percent of 18-24 year olds and 86 percent of 25-44 year olds. Interest drops off slightly as people age, down to 56 percent for those aged 55 years and over. But at over half of this age group, that’s a very strong demand for the smart home. The only slight snag at present is that demand isn’t reflected in willingness to pay – just over one third (35 percent) of people would invest to make their home smarter. Around half of those aged 18-34 are prepared to pay (49 percent of 18-24 and 52 percent of 25-34s), falling to one in five (21 percent) of those aged 54 years and over.
‘Generation Rent’ is most likely to want a smart home – but tenants won’t invest in conversion
Although the appeal for the smart home is greatest amongst 18-34 year olds, this group is often referred to ‘Generation Rent’ as just three in 10 (31 percent) of those actually own their own property. The research shows a mismatch of desire and feasibility, with younger generations unlikely to be able to or want to transform their rented properties into a smart home. This will have a marked impact on the speed of conversion into smart homes.
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