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Market Research Report

Connected Home of the Future - Voice of Customer

Published by Frost & Sullivan Product code 920290
Published Content info 106 Pages
Delivery time: 1-2 business days
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Connected Home of the Future - Voice of Customer
Published: December 18, 2019 Content info: 106 Pages
Description

Focus on Smart Energy Management, Unmet Needs, and Opportunities

Consumers play a key role in driving various trends in the connected home energy industry. Their perceptions determine the success or failure of various initiatives and innovations in the market. This survey was designed to capture valuable insights regarding energy aspects and adoption trends associated with connected home solutions. The study offers an in-depth understanding of perspectives around the current and future adoption trends with regard to home energy management and IoT-enabled offerings. This is in addition to the demand drivers and preferred business models that will resonate with customers. More than 1,200 occupants/homeowners with home Internet access residing in rural, urban, and sub-urban areas across the US and Canada were included in this survey. They are all involved in the decision-making process for investments in consumer electronics and communication technologies for their residences. The response patterns are also broken up by regions for both the US and Canada to provide insights of how trends vary across these regions. The observations from this survey range across adoption trends, system/device control factors, brand perceptions, energy cost perceptions, and preferred delivery models for energy and related services with a special focus on the role of utilities.

Respondents closely related to the perception of connected home to systems with high energy consumption. This was followed by systems/devices accessible over Wi-Fi such as connected security, entertainment systems, and appliances. The primary drivers of interest in connected homes were utility/energy/cost savings, followed by convenience and security. Energy costs are a high concern area for most respondents in both Canada and the US. Energy-saving investments made in this regard, however, have an expected payback period of one to two years, which was the most desirable payback period among respondents.

Research Highlights:

The key highlights of the research include the following:

  • An opportunity to understand the consumers' perceptions of connected home energy management and IoT-enabled offerings
  • Insights to help assess the current state of adoption and unmet opportunities to address in the future.
  • Learning about homeowners' preferences, adoption criteria, key benefits, and technical barriers.
  • Perspectives on smart energy management needs, demand drivers, and preferred business models that will resonate with customers' needs.

Key Issues Addressed:

  • How do homeowners/occupiers engage with smart energy solution providers today?
  • What motivates them to select some brands over others?
  • How satisfied are they with their current service providers?
  • How do they envision working with their service providers in the future?
Table of Contents
Product Code: K46B-19

Table of Contents

Research Objectives and Methodology

  • Research Objectives
  • Research Methodology
  • Respondent Profile-Age and Gender
  • Respondent Profile-Education, Employment, Marital Status
  • Respondent Profile-Residence: Area, Ownership, Type of Home
  • Respondent Profile-Household: No. of People, Income, Tariff
  • Respondent Profile-Decision Making and Connectivity

Summary of Key Findings

  • Summary of Key Findings
  • Summary of Key Findings (continued)
  • Summary of Key Findings (continued)
  • Summary of Actions Taken to Reduce Energy Costs
  • Summary of Actions Taken to Reduce Energy Costs (continued)
  • Summary of Planned Actions to Reduce Energy Costs (Next 18 months)
  • Profile of Utility Programs
  • Various Energy-saving Measures
  • Various Energy-saving Measures (continued)
  • Various Energy-saving Measures (continued)
  • Home Energy Solution Benefits and Features
  • Home Energy Solution Benefits and Features (continued)
  • Home Energy Solution Benefits and Features (continued)

Perceptions of Energy costs

  • Summary-Perceptions of Energy Costs
  • Degree of Concern about Energy Costs
  • Perceived Trend in Home Energy Costs (Vs. Past Year)
  • Belief in Ability to Manage Home Energy Costs

Control Device Details

  • Summary-Control Device Details
  • Devices Used to Program the Switching of Lights
  • Devices Used to Program or Control the Thermostat
  • Most Preferred Device to Control the Thermostat

Satisfaction with Home Energy Solution Capabilities

  • Summary-Satisfaction with Home Energy Solution Capabilities
  • Satisfaction with Home Energy Solution Capabilities
  • Satisfaction with Home Energy Solution Capabilities (continued)

Perceived Impact of Various Solutions on Energy Savings

  • Summary-Perceived Impact of Various Solutions on Energy Savings
  • Perceived Impact of Various Solutions on Energy Savings
  • Perceived Impact of Various Solutions on Energy Savings (continued)

The Ideal Home Energy Solution

  • Summary-The Ideal Home Energy Solution
  • Most Motivating Benefits to Adopt Home Energy Solutions
  • Most Motivating Benefits to Adopt Home Energy Solutions (continued)
  • Likelihood of Adopting the Ideal Home Energy Solution (with the Most Motivating Benefits)
  • Reasons for Lack of Interest in the Ideal Solution

Brand Consideration and Preference

  • Summary-Brand Consideration and Preference
  • Home Energy Solution Brands
  • Brands to be Considered in the Next 12-24 Months
  • Brands' Share of Preference

Concerns about Home Energy Solution Adoption

  • Summary-Concerns About Home Energy Solution Adoption
  • Concerns About Home Energy Management Solutions
  • Concerns About Home Energy Management Solutions (continued)

Troubleshooting Mechanisms

  • Summary-Troubleshooting Mechanisms
  • First Point of Contact in Case of System Malfunction
  • Types of System Malfunction Encountered
  • Connected Devices/Appliances That Malfunction Most Frequently
  • Actions to Facilitate Installation

Preferred Control Device

  • Summary-Preferred Control Device
  • Device to Control Connected Home Energy Management Solutions
  • Most Preferred Control Device

Possible Providers of Home Energy Solutions and Proposed Delivery Models from Utilities

  • Summary-Possible Providers of Home Energy Solutions and Proposed Delivery Models from Utilities
  • Summary-Possible Providers of Home Energy Solutions and Proposed Delivery Models from Utilities (continued)
  • Possible Providers of Connected Home Energy Management Solutions
  • Most Preferred Providers of Connected Home Energy Management Solutions
  • Delivery Models for Energy Management Services
  • Inclusion of Energy Management Solution Fees in the Utility Bill and Preferred First Contact for Malfunctions
  • Willingness to Allow Utilities to Control Home Energy Consuming System
  • Connected Products that Utilities can be Allowed to Control
  • Preferred Timing of Control
  • Rebate Expectations for Program Participants

Connected Home Technology Adoption Trends

  • Summary-Connected Home Technology Adoption Trends
  • Summary-Connected Home Technology Adoption Trends (continued)
  • Concept of a Connected Home-Key Characteristics
  • Connected Home Technology Adoption
  • Drivers of Interest in Connected Home Technology
  • Connected Products at Home
  • Connected Products Likely to Be Adopted in the Next 12 Months
  • Other Benefits of Home Energy Management Solutions
  • Other Benefits of Home Energy Management Solutions (continued)
  • Legal Disclaimer

Appendix

  • List of Exhibits
  • List of Exhibits (continued)
  • List of Exhibits (continued)
  • List of Exhibits (continued)

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