People Invest More in IoT Technology in Their Homes: Survey

Remote home control system on a digital tablet or phone.

Smart security systems are the most commonly owned smart home device, ahead of smart thermostats and smart lights.

Smart appliances in network. Concept for Internet of Things showing many different connection between device

Smart home devices are the IoT technology people are most familiar with, ahead of wearable devices and digital assistants, according to a new survey report.

Over half of people (53 per cent) currently own a smart home device, and another 33 percent plan to invest in a smart home device in the next three years, the survey revealed.

Washington-based B2B ratings and reviews firm, Clutch, surveyed 581 people to examine how they are growing more comfortable with IoT technology in their homes.

According to the survey, one reason that is making people familiar with smart home devices is “forced adoption,” which occurs because many home devices and appliances come with connected capabilities.

Remote control and monitoring are identified as the biggest benefits of owning a smart home device. The study found that smart security systems (50 percent) are the most commonly owned smart home device, ahead of smart thermostats (48 percent)) and smart lights (46 percent).

Cost is the Primary Concern with Smart Home Devices

Though most respondents recognize that some smart home devices can reduce utility costs in their home, they are still more concerned about the cost of smart home devices over security vulnerability.

More than half of people (53 percent) surveyed claimed that smart home thermostats decrease utility costs. This is double the number who think a smart home thermostat increases utility costs (24 percent).

The survey found that lowering utility costs is the primary benefit of owning a smart plug.