Smart Home Technology Trends
Smart devices can be a convenient way to keep life at home under control. Which devices are worth investing in? That’s up for debate, but here are some of the latest statistics.
24% of Americans currently own a voice-activated smart speaker. These devices are typically used to control other smart household technology, answer questions and play music.1
44% of Americans currently own a smart security product,2 like video doorbells, smart surveillance cameras, and smart locks and alarms. This can protect your home from intruders, your packages from porch pirates, and even you from getting locked out of the house.
In a recent study conducted by the Los Angeles Police Department in LA neighborhoods, it was found that burglaries in the area were cut by 50% when such devices were installed.3
Today’s smart devices can now be monitored and managed entirely online via web or mobile apps. This makes it easy to control all smart-equipped features like lights, security, thermostats, appliances and more from within your home and while you’re away.4
Smart home technology trends show that 20% of consumers own smart, or connected, appliances today.4 From integrated smoke detectors to refrigerators, these devices can be configured, controlled and operated via app and/or smart speaker.5
Aside from being used to ask questions, play music or control other household devices,6 smart speakers can be used to streamline personal organization. 32% of smart speaker owners report using their device to update personal calendars; 77% use it to check the weather; 35% to get traffic updates; and 64% to set timers hands-free.7
Speakers are a great tool to have in a smart home because they may act as a hub to connect and manage life at home on all fronts, from making voice-activated purchases to controlling household devices like lighting, temperature and more.
These smart functions are not only more convenient, but can potentially lower energy costs and maximize home security. Additionally, this allows flexibility for new devices and appliances to be added down the line.4
Water damage is the primary claim scenario that you can help prevent with smart home technology, says Adam Kostecki, a Senior Assistant Vice President with Amica.
New devices can use analytics to detect abnormal water flow patterns and monitor for leaks, sending a command to the shut-off valve to avoid a problem. Kostecki notes that this can be incredibly beneficial for preventing water damage. If your home doesn’t yet have this technology, here’s how you can identify a water leak yourself.
But what about when you aren’t using your voice-activated gadgets? These devices have shown vulnerability to voice command attacks via Wi-Fi and Bluetooth connectivity. According to recent statistics, 34% of consumers remain skeptical of smart home speakers and home security cameras, and their manufacturers, due to a rise in reported stalkers, hackers and hijackers digitally entering homes through these devices.8
The good news? Most of these basic-level security breaches can be prevented with strong, unique passwords and two-factor authentication.9
Widespread adoption of Energy Star-certified smart thermostats could offset 13 billion pounds of annual greenhouse gas. When programmed correctly and properly managed on extended leaves, a smart thermostat can help make the most of your climate control system, saving you energy (and ultimately money) over time.10
It’s not only convenient to control devices in your home with the touch of a button — they may even help you save on your insurance premiums.
The statistics behind some smart home technologies are impacting the way insurance companies approach homeowners policies, as some devices may help prevent the need for a claim.
“We’re offering our customers discounts as a way to help incentivize buying and installing these devices,” notes Kostecki. “The list of devices that qualifies for these discounts is growing.”11
With increased health risks and rise in time spent in the home, homeowners are now investing in smart appliances that keep their home as clean and sanitary as possible. Products like touchless appliances, self-cleaning toilets and robotic vacuums have upgraded the quality of living to help keep on top of messes at home.12
26% of smart speaker owners use their smart speakers to conveniently make voice-activated purchases on demand.13
There are plenty of home security systems to choose from, but smart devices add a few extra layers of protection and convenience.
This allows you to stay on alert with automatic motion-detecting notifications, keep an eye on your children and pets, remotely manage your locks and answer the door from wherever you are, right from your phone.
Bonus: Many kinds of smart home technology may help you sell your home faster. Statistics show that 66% of reported potential homebuyers want a smart camera pre-installed, and home listings that mention a smart thermostat reportedly sold six days faster than expected.12, 1
Smart technology is here to stay, and it could benefit your wallet.
With an estimated 7 billion (and counting) connected “Internet of Things” devices worldwide, 14 smart home technology continues to gain popularity, and it might add value to your home if you choose to purchase and install a few devices of your own. What’s more, these devices could help you save on your insurance premiums.
Amica currently offers discounts when you install a temperature monitoring, water leak or gas leak detection system, but the list is growing as more technology hits the market. For more information on how you can leverage smart tech for your home premiums, call an Amica specialist today.
- The Smart Audio Report, Spring 2020, NPR and Edison Research, 2020.
- 2018 Coldwell Banker Real Estate Smart Home Marketplace Survey, Coldwell Banker, 2018.
- Police Say Crime Drops With Video Doorbells, USA Today, 2017.
- “Alexa, Please Turn on the Lights at 7 p.m.:” Smart Automation Comes Home, ReportLinker, 2017.
- Room-by-Room Guide to Home Automation, SafeWise, 2020.
- Voice Assistant Consumer Adoption Report, Voicebot, 2018.
- Smart Speaker Use Case Frequency in the United States as of January 2020, Statista, 2020.
- Do we really trust smart devices? Eileen Brown, ZDNet, 2018.
- Five Common Privacy Problems in an Era of Smart Devices, Rebecca Herold, ISACA, 2020.
- Energy Star Smart Thermostats – Certified to Deliver Smart Savings, Energy Star, 2017.
- Discounts may vary and may not be available in all states. Revealed, Michael Gerrity, 2020.
- Top 10 U.S. Home Buying Trends for 2021 Revealed, Michael Gerrity, 2020.
- Smart Speaker Consumer Adoption Report, Voicebot, 2018.
- State of the IoT 2018, Number of IoT Devices Now at 7B – Market Accelerating, IoT Analytics, 2018.
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