The Smart Home 360 report, which comes out today from the market research company Argus Insights, provides a snapshot of what is out there in the smart home market today. The study looks at changes in the market from March to April, as well as overall trends Argus researchers are seeing within the quickly emerging and maturing market.
I caught up with Argus Insights CEO John Feland, who pointed that because the smart home market is changing so fast, “we are continuously pulling data around the marketplace from consumers on what is working and what is not.”
Overall, Feland said that Argus is seeing “year-over-year growth" within the smart home market, and equally important, the data is showing that security is still vitally important with consumers when it comes to taking that first plunge into smart home offerings.
“Home security is top of mind,” said Feland. “For those who are in the ‘do it for me’ category, the gateway use-case is security, so that is still what is selling and driving [smart home] adoption.”
And there is even more good news for traditional security dealers: For the ‘do it for me’ group, which is professional-installer based, the data is showing that when consumers try to do it themselves “they have been frustrated,” said Feland. When they work with a local dealer/installer, the “outcomes have been much better,” he noted.
From an installer’s standpoint, Feland said the key to getting someone to start on that smart home journey is simplifying the initial process for customers while providing a system that can seamlessly integrate smart home connectivity and capabilities without any headaches for the end user.
In the area of home automation, “If they [dealers] are not talking to their customers about Amazon Echo, they are not doing their job,” said Feland. “Amazon Echo is still a leader, and Alexa is still the voice in people’s homes, but we will see what happens when Google launches its product.”
In the DIY space, Feland noted that dealers should pay close attention to consumers’ frustration with the lack of support they are getting on the retail side. “If you look at where they [retailers] are failing right now, that presents an opportunity for traditional dealers to be that second date that leads to marriage.”
The report, which Argus released a sample section of today, is also available for purchase.