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What’s Driving 65% of U.S. Homeowners to Have Smart Home Devices?

modernhomeA new survey of 1,000 American homeowners shows that smart home devices are on the rise. The results show that 65% of adults in the U.S. have one or more smart devices in their homes, the most popular devices being smart speakers, thermostats and lighting.

There are a number of causes for smart home devices’ growing popularity. However, the main concern on homeowners’ minds, according to the ValuePenguin survey, is climate change.

Among all of those surveyed who have a piece of smart home technology, 49% have a could be considered environmentally friendly, such as smart thermostats/AC, lighting, kitchen appliances, plugs/outlets, vacuums and sprinklers.

The survey found that consumers who are concerned about the environment are far more likely to have smart devices in their homes. According to the study, “74% of those who are very concerned about climate change have a smart home device,” which is far higher compared to 58% of those surveyed who are only somewhat concerned about climate change and 42% of people who aren’t environmentally conscious.

Of those who are very concerned about climate change, 52% who also have a smart home device claimed they purchased it specifically because it’s environmentally friendly.

Male survey respondents, Gen Xers (people between 40 and 54), and those living in the Northeast region of the U.S. were found to be the most likely to have smart home devices. Out of all the men surveyed, 82% had a smart home device compared to 49% of women.

Among different generations, “Gen Xers were the most likely to own a smart home device at 90%.” About 75% of millennials (ages 24 to 39) reported having smart technology at home. Older generations, including Baby Boomers (ages 55 to 74) and the Silent Generation (ages 75 and older) were the least likely to have smart home devices. The survey shows 39% of Boomers have smart home devices compared to 33% of the Silent Generation.

One of the key findings of the study is that U.S. homeowners are “willing to sacrifice data privacy and higher costs for environmental benefits.” The findings show that 49% of consumers are willing to pay higher prices for smart home devices for their environmental benefits.

The data privacy concerns surrounding smart home devices are not a major issue among those surveyed; 45% of consumers agreed that the environmental and cost benefits of smart technology outweighed data privacy concerns.

As insurance companies have started to reward homeowners for “safe and conscious behavior,” 56% of survey participants “said they would be willing to purchase and install smart home technology in order to receive a discount on their insurance.”

Smart home devices will likely continue to grow in popularity among U.S. homeowners for their money-saving and environment-friendly benefits.

About Author: Cristin Espinosa

Cristin Espinosa is a reporter for DS News and MReport. She graduated from Southern Methodist University where she worked as an editor and later as a digital media producer for The Daily Campus. She has a broadcast background as well, serving as a producer for SMU-TV. She wrote for the food section during her fellowship at The Dallas Morning News and has also contributed to Advocate Magazine and The Dallas Observer.

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