According to a recently completed survey with 1,000 U.S. online adults by ON World, 40% are willing to pay for a whole-home automation service and most are willing to pay $15 or more per month.
San Diego, California September 30, 2015 -- Growing awareness and demand for smart home solutions has reached mass market scale, according to global technology research firm ON World.
"The majority of US consumers express interest in smart home products and services and 20% are likely to adopt within the next two years," said Mareca Hatler ON World's research director. "Large scale cloud-based sensing and control solutions are driving costs down for advanced user applications making this market an investor gold rush."
Two in five of the survey's respondents are willing pay a service fee for a smart home service and 35% are willing to pay at least $15 per month. The segments who are most likely to pay for a smart home service include males and young adults who are also willing to pay a higher smart home service fee.
The most popular smart home wireless sensing products are smart light bulbs, video security cameras and smart thermostats with growing adoption for smart appliances and smoke detectors. After costs, the most important purchasing considerations are whole-home coverage, system integration and a single app interface.
If U.S. households adopt smart home wireless sensing services at the levels indicated by the survey, this represents a potential $14 billion market.
The survey is part of ON World's series of reports on Smart Home Wireless Sensor Networks based on surveys and interviews with 2,000+ individuals. These reports cover 20+ product segments for Smart Home Lighting, Safety and Security, Home Energy Management and Smart Appliances sold through the managed services, retail/DIY and professional installer channels. Each report may be purchased separately or as part of a report set.
More information and free executive summaries are available from ON World's website.
About ON World:
ON World (http://www.onworld.com) provides global business intelligence on smart technology markets. Since 2002, our market research and information services are used by Fortune 1000 companies, startups and investors worldwide.