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Almost half of Americans to own Smart Home Technology by the end of 2016

It seems that Internet of Things will go mainstream sooner than it had been expected. The Smart Home Marketplace Survey from Coldwell Banker Real Estate indicates that 45% of all Americans either already own or plan to invest in 2016.

The most popular type of smart home technology that people already own is smart entertainment, such as smart TVs and speaker systems; 44 percent of people with smart home technology own a smart entertainment product.

The next most popular types of smart home technology that people currently have installed in their home include smart security (31 percent) and smart temperature (30 percent).

More than half of homeowners (54 percent) sat they would purchase or install smart home products if they were selling their home and knew that doing so would make it sell faster.

Of people who do not yet use smart home technology, more than a quarter (27 percent) say they are going to invest in it in 2016. 70 percent of Americans owning smart home technology admits that buying their first smart home product made them more likely to buy another one.

Smart home technology is no longer just for the young, affluent and educated. Older generations are adopting certain types of smart home technology faster than younger ones. For instance, 40 percent of those over 65 who own smart home products currently have smart temperature products, compared to only 25 percent of Millennials (ages 18 to 34).

Michał Pasternak

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