Homeowner trends and the smart home industry


The smart home industry has seen significant growth in recent years. There is something for everyone, from smart speakers to fully integrated security systems (and every budget). And while these gadgets are undoubtedly cool, the actual motivation behind consumers purchasing these products has always been a little murky. Do homeowners feel these products make their lives easier, or are they just caught up in the hype?

To get insight into exactly why homeowners are so drawn to smart home devices, the Hippo insurance team surveyed 1,000+ homeowners across the nation. They discovered that though convenience was the biggest factor in smart home device usage at 46%, it wasn’t the only reason.

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Homeowner trends and the smart home industry 3

17% of homeowners said they mainly use smart home technology to monitor their homes when they are away at work or on vacation. 15% use these devices to increase their security and prevent break-ins. In contrast, Another 15% is more concerned with how this technology can lower their utility bill and carbon footprint.

Homeowners were also surveyed on what devices they felt offered the most protection. While fire and theft alarm systems secured the top spot at 34%, other lesser-known devices such as water shut-off valves (8%) and water sensors (4%) were valued highly as well. This is likely because homeowners understand the complexities of fully protecting their home. And given that plumbing leaks are actually more common than break-ins, it’s no surprise that these items have risen in popularity in recent years.

When broken down by gender, there are some interesting differences in smart home device usage. For instance, men generally look for devices that will save them money and make their lives easier. At the same time, women are looking to buy smart home technology to keep them safe and monitor their home from anywhere, globally.

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Homeowner trends and the smart home industry 4

Smart home technology isn’t going anywhere anytime soon. In fact, as consumers continue to buy these devices for specific needs, there’s no doubt that these devices will soon become more tailored to homeowners than ever before. From smart appliances to water leak detectors, a home that can be completely controlled by a smartphone is not too far off. For more information on smart home usage, top devices to save money, and other smart home statistics, head over to Hippo to check out the full report and graphics.

What do you think? Let us know in the comments below or on Twitter or Facebook. You can also comment on our MeWe page by joining the MeWe social network.

Last Updated on February 3, 2021.


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