Smart home device ownership ‘to rise by 2022’

Some 59% of UK households are expected to own a smart home device by 2022.

That’s according to a survey conducted by EY, which also found that 26% of homes currently own at least one type of smart home product.

According to the data, smart heating devices are likely to witness the highest levels of adoption, with 38% of homes looking to own one in the next five years. That’s more than four times the current humber of UK households (8%).

Smart security devices are also set to rise in popularity, from 7% to 32% within the next five years. Digital home assistants and smart lighting devices are also expected to become much more prevalent, with some 31% of survey respondents saying they planned to own a device – compared to the 11% and the 7% which already do.

Smart fridges, ovens and washers are currently owned by 4% of UK households and will likely see a slower pace of adoption, with just 19%, 15% and 18% of households looking to buy these items.

Adrian Baschnonga, lead telecommunications analyst at EY, commented on the findings: “Our survey shows that UK consumers are warming to a new wave of smart products and services that help redefine home living. Looking ahead, smart security and energy services boast the fastest take-up rates, underlining the importance of convenience, control and efficiency as drivers of demand.”

Price

The outlook for smart home adoption is generally promising but a series of factors risk undermining uptake among consumers. Price is a key consideration, with just 19% of households saying the price of smart home items was reasonable.

Some 37% of respondents also said installing new hardware was a significant issue as they would not feel confident in installing an IoT connected household appliance and device.

Additionally, 71% of households said they would be concerned about the ability of hackers to access their connected appliances.

In addition to this, the survey found that 19% of households would buy smart home products from a broadband provider, 17% from a specialist tech provider, 15% from a utility provider and only 4% from a mobile operator.

Praveen Shankar, partner and telecommunications sector leader, at EY, said: “Our survey findings highlight many positives that product and service providers can draw on as they formulate their smart home strategies.

“However, looking ahead, they must position the customer at the heart of their approach and provide a compelling and consistent story about the value they can offer them. Customer concerns regarding installation and security should not be treated as an afterthought, and clear communications should exist before, during and after the point of sale. Service providers must also regularly assess their role in an evolving supplier ecosystem.”