Report: While demand drops in smart home market, consumer satisfaction is slowly rising
A new report from Argus Insights has a mix of good and bad news for the smart home devices and technology market.
Let’s start with the good: Consumers are slowly but surely becoming increasingly more satisfied with their smart home devices, according to Argus Insights’ most recent Smart Home Delight Report. The analysis of 45,000 consumer reviews sourced from around the world from March through August 2015 found slight improvements in satisfaction. Leading the way, as displayed in the chart below, were smart light bulbs and home security kits and hubs. On the flip side, security cameras continue to receive the lowest marks, though they’re improving.
Ready for the bad? The report found that distrust from consumers about the reliability of connected devices and technology is a major obstacle in regards to growth in consumer adoption for smart home products. That data, combined with the fact that there’s already been a drop in demand for these products, could lead to a challenging holiday season for home automation companies, Argus Insights’ report said.
“These devices are still designed more for the Internet of Things than the Internet of Humans,” John Feland, CEO of Argus Insights, said in a statement. “Mainstream consumers were burned last holiday season by installation and reliability issues and though the remaining consumers in the market overall like these products more, the issues that forced out mainstream adopters after Holiday 2014 remain. Our analysis suggests that 2015 may be less than robust for smart home devices.”
The Argus Insights report found that the smart home devices that saw the most success and helped drive up the delight metrics were products that could “deliver on the promise of a better life in a way that is easy to install and maintain.”