Trust and appetite for UK connected homes nearly doubles in two years
05 July 2018
As the digital revolution advances, the connected home industry has experienced a twofold increase in consumers planning to invest in smart home devices, while levels of trust in energy suppliers/installers have almost doubled since 2016.
Despite this positivity in the market, why do the majority of consumers (52%) have no plans to invest in connected home technology?
PwC Research surveyed over 2,000 consumers to understand key changes in consumer views and their intentions to adopt technology with the potential to revolutionise the way we live within our homes. Examining how consumer attitudes, beliefs and intentions have continued to evolve, PwC’s recently released Connected Home 2.0, which highlights five key areas where the most significant changes have happened or are still to come.
- Households will spend £10.8bn on smart devices in 2019 with biggest adopters likely to be aspirational homeowners between the ages of 18-35.
- Trust in energy supplier/installers has almost doubled since 2016 from 34% to 60%.
- Almost 40% of adopters enter the connected home market via smart entertainment devices.
- Data privacy remains a barrier for 20% of consumers who don’t own smart devices. Suppliers must address concerns around security and how data is used.
- 40% of device owners are expecting to upgrade within 2 years (excluding smart meters).
In order to persuade consumers to invest, the market must work to develop device capabilities and effectively communicate the value they bring to people’s lives.
Our interactive report explores how companies must reimagine the possible to stay ahead in the connected home market.
To find out more about the research please contact Cliona O’Beirne