New smart home research reveals big opportunity for emerging aging-in-place technology and continued concerns for security.
Telecoms Intelligence’s report, IoT Outlook 2015, and Icontrol Network’s survey, 2015 State of the Smart Home reveal that, in the past year alone, consumers have become more educated and excited about the possibility of incorporating smart home tech into their lives.
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“More people are expecting it in the home,” says Chris Hinch of Essex Homes.
Age Makes a Difference
According to Icontrol’s study, 79 percent of Millennials are interested in using smart home technology.
Homeowners over 45 want technology installed for them with a budget of under $500, whereas Millennials are interested in DIY projects with a budget of $2,000 to $3,000.
Aging-in-place tech is a huge concern for almost all ages. The same study shows 74 percent of consumers over the age of 34 say they would sleep better if their elderly family member had a smart home.