Consumers prefer practical over pizzazz in smart home technology

In the future, we will not be minding the machines; the machines will be minding us.

At this year’s Consumer Electronics Show, manufacturers paraded a host of new smart devices designed to track our behaviors and vital signs and then respond or alert us when action needs to be taken. The devices on display ranged from monitors for utilities, plants, babies and pets to a washer and dryer that pings your smartphone or tablet when the cycle is done and a refrigerator that sends a photo of the interior to let you know the cupboard is bare.

house icon technologyWith the new app-driven and voice-activated systems on display, you don’t even have to leave your chair to adjust the lights or ambient temperature, lock the door or turn on the oven. It’s all pretty cool, but cool is not what consumers say they are most willing to pay for.

Without question, smart technology has arrived and will change how we relate to our homes. But are consumers ready to jump on board? According to the results of several recent surveys, consumers are intrigued by smart technology.

More than half of the respondents to a survey conducted last August for home control and automation provider Savant said they expected smart technology will become an everyday feature in their homes within the next 10 years. In a survey conducted by the Harris Poll last July for home improvement retail giant Lowe’s, more than half (52 percent) of respondents said smart technology was at least “somewhat important” to them, with 1 in 5 (21 percent) saying its was “very” or “fairly” important to them.

A more recent survey by International Data Corporation for the Internet of Things Consortium found nearly two-thirds (65 percent) of consumers are “moderately or extremely interested” in adopting a smart home solution. Gartner predicts a typical family home could have more than 500 smart devices by 2020.

Yet, as a recent Washington Post article reports, most consumers are taking a wait-and-see attitude toward the new technology. The article cites a study by IT consulting firm Gartner that found only 20 percent of consumers have as yet purchased one or more smart home devices, and 14 percent had purchased only one. A Nielsen study mentioned received an even lower response, just 6 percent.

Those consumers who are thinking about adding smart technology at home are most interested in devices to control energy and water use and improve home security. When asked what they thought were the biggest benefits of smart home technology, half the respondents to the Lowe’s survey said that their home would be more secure, and 40 percent said to cut costs and reduce energy bills.

Futuristic appliances were far from top of mind. Consumers expressed concerns about the cost of some devices, possible monthly services costs (most prefer a DIY solution with no monthly fees) and security risks.

The bottom line is that, while manufacturers are hoping to entice customers with techno razzle-dazzle, consumers are still weighing the cost-benefit of adding yet more devices and networks to their homes. Indeed, the responses to these surveys are similar to consumer surveys on green and sustainable homes, in which homeowners say they are willing to expend some, but not much, additional money for green technologies if they produce significant cuts in utility use and costs.

Most homeowners have a limit as to what they can spend on their homes. As long as the future comes with a steep price tag, it may have to wait a bit longer.

This article originally appeared on Multibriefs.com