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Connected Home of the Future—Voice of Customer

Connected Home of the Future—Voice of Customer

Focus on Smart Energy Management, Unmet Needs, and Opportunities

RELEASE DATE
18-Dec-2019
REGION
North America
Research Code: K46B-01-00-00-00
SKU: EN01170-NA-CR_23890
$4,950.00
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SKU
EN01170-NA-CR_23890
$4,950.00
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Description

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

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 (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)

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

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

Summary—Satisfaction with Home Energy Solution Capabilities

Satisfaction with Home Energy Solution Capabilities

Satisfaction with Home Energy Solution Capabilities (continued)

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)

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

Summary—Brand Consideration and Preference

Home Energy Solution Brands

Brands to be Considered in the Next 12–24 Months

Brands’ Share of Preference

Summary—Concerns About Home Energy Solution Adoption

Concerns About Home Energy Management Solutions

Concerns About Home Energy Management Solutions (continued)

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

Summary—Preferred Control Device

Device to Control Connected Home Energy Management Solutions

Most Preferred Control Device

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

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

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

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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.--BEGIN PROMO--

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?
More Information
No Index No
Podcast No
Author Pratik Paul
Industries Environment
WIP Number K46B-01-00-00-00
Is Prebook No
GPS Codes 9343-A4,9B07-C1,GETE