The internet of things (IoT) allows people to control their daily lives through a series of devices connected through the internet.
Through smart products linked through systems like Google Home, IoT is becoming part of a typical consumer’s daily life.
The technology is particularly present in people’s homes.As people are spending increasing amounts of time to preserve public health amidst the Covid-19 outbreak, their increased exposure may lead to heavier familiarity and engagement with the technology.
IoT technology has worked its way into the homes of customers around the globe in the following 3 ways:
- Users are more comfortable with IoT privacy and security
- IoT devices are becoming more affordable
- People are able to control IoT technology remotely
This article will examine how IoT has gained consumer trust that has resulted in its increasing popularity.
Users are More Comfortable with IoT Privacy and Security
While privacy and security remain a prominent concern, smart home device owners are becoming more accustomed to sharing personal information across interconnected devices.
It’s true that many consumers are hesitant about adopting smart technologies, especially in their homes. They haven’t always been widely trusted. But, as more and more spaces begin utilizing these emerging technologies, users become more accustomed and comfortable using them.
According to an IoT customer research survey, the increased comfort with smart devices in the home has to do with forced adoption. As companies build and market smart appliances like refrigerators and washing machines, consumers will have less of a choice to opt out of IoT devices.
Because of the inherent interconnectivity IoT devices offer, once a consumer has one smart device, they’re more likely to buy into this trend further. In that way, users are being encouraged to make IoT part of their home lives and become more comfortable with relying on these technologies.
Growing consumer trust and forced adoption are both visible in customer investment plans for IoT devices.
Because of forced adoption and shifting user preferences, consumers are becoming comfortable with installing smart home devices in their homes.
IoT Devices are Becoming More Affordable
IoT devices cost less than ever. Because of the lower required investment to turn a dumb home into a smart home, more consumers will have access to this technology.
Prior, the high costs of equipping your home with smart technology has been the inhibitor of smart device purchases.
Now, they are being made more cost-effectively, making them accessible to a greater audience.
Hypothetically, a homeowner could invest in a home assistant, smart lighting, and either a thermostat or smart lock for under $400. That would’ve been an impossible achievement in past years (or even months).
In addition to decreases in hardware costs, IoT devices have the ability to save people money on utility costs.
The average family spends just over $2,000 annually on utilities. That can be a significant burden, especially when percentages of the expenses are due to inefficiencies.
Devices such as smart thermostats can mitigate this issue. They’re built to maximize energy efficiency and do not require the consumer to constantly adjust the temperature to save money. Some models have proven to save people up to 12% on their heating and cooling bills, which are oftentimes the most costly.
Not only are smart devices becoming more affordable, but their increasing robust technological capabilities allow users to save money on utilities and home expenses.
People are Able to Control IoT Technology Remotely
Most smart device functions can be adjusted through an app that allows users to control and monitor smart home devices remotely.
Having access to real-time information throughout the day gives consumers a tangible reason to invest in IoT software and devices.
This technology is not only more convenient for users, but it also expands the market for IoT products. Working parents, dog-owners, and others who would benefit from remote home monitoring during the day are more likely to invest in these products.
The improved capabilities of IoT products allow people to make sure their homes are safe and secure without having to be present.
Product series such as Google Nest display this increased safety perfectly.
These devices are designed to be placed throughout the customer’s home, enabling users to lock their doors, arm alarms, and check on their family members no matter their location.
In a period of public health uncertainty and concern, the ability to identify locations of loved ones can provide a sense of security and health for users.
In addition to security, Google Nestoffers devices that improve energy efficiency, home assistance, and entertainment.
Young families, especially, are more encouraged and trusting of these devices because they add substantial value to their lives.
Smart home devices satisfy a growing consumer expectation for immediate access to information. In today’s world, users want to be able to connect to important content quickly, especially when it comes to security.
Consumers Trust IoT Technology in Their Homes
As the technology progresses, smart home devices are playing a bigger role in the daily lives of consumers, particularly for the homebound masses.
By building comfort through forced adoption, affordability, and the ability to control the devices remotely, more people are choosing to invest in IoT home products for now and the future.
As the devices become more robust, the market for smart home solutions expands. If trends current trends continue, the prevalence of IoT devices in the home will keep growing.
Nicole Schlabach is a Content & Editorial Associate at Clutch, a research, ratings, and reviews platform that helps businesses review, vet, and partner with the best providers for their project needs.