Table of Contents
Executive Summary
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- The issues
- Cost is a major barrier to a ‘connected’ home
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- Figure 1: Reasons for disinterest in smart home devices, December 2015
- Demographic challenges and population growth from immigration
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- Figure 2: Projected trends in the age structure of the Canada population, 2014-19
- Reducing energy use is on the minds of consumers
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- Figure 3: Energy-related attitudes towards smart home devices (any agree), December 2015
- The opportunities
- Younger cohorts display more interest in a ‘connected’ smart home
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- Figure 4: Interest (any) in smart home connectivity, by age, December 2015
- Lowering monthly bills through smart home integration
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- Figure 5: Money saving related attitudes towards smart home devices, December 2015
- Aging consumers and immigration present new opportunities for smart home brands and retailers
- What it means
The Market – What You Need to Know
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- Canada’s population is expected to age in the coming years
- The population is growing and ethnically diverse
- Proportion of highly indebted households continues to rise
- Millennials are moving into prime home buying years
- The strong smartphone market bodes well for smart home adoption
Market Factors
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- Canada’s population is expected to age in the coming years
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- Figure 6: Population aged 65 years and over in Canada, historical and projected (% of total), 1971-2061
- Figure 7: Projected trends in the age structure of the Canada population, 2014-19
- The population is growing and ethnically diverse
- Proportion of highly indebted households continues to rise
- Millennials are moving into prime home buying years
- The strong smartphone market bodes well for smart home adoption
Key Players – What You Need to Know
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- Google’s Nest Labs positions itself as a leader in smart thermostat devices
- The well-connected home is appealing to consumers
- Security concerns with smart home device ownership
- Positioned for a bright future, the smart home needs mass appeal
Launch Activity and Innovation
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- Google acquires Nest, positioning itself as a leader in smart thermostat devices
- Arlo – The home security innovator
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- Figure 8: Netgear Arlo smart home security cameras, video review, February 2015
- LG’s Smart ThinQ appliances
- Home Depot’s smart home partnership
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- Figure 9: Home Depot, smart home products, print ad, February 2016
- New smart home concepts launched at CES 2016
What’s Working?
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- The well-connected home is appealing to consumers
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- Figure 10: Rogers Smart Home Monitoring, direct mail, September 2015
- Figure 11: Rogers Smart Home Monitoring, print ad, September 2013
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- Figure 12: Rogers Smart Home Monitoring, television commercial, April 2015
What’s Struggling?
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- Reversing disinterest in smart home devices
- Security concerns
- Lack of interoperability between smart home devices
What’s Next?
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- The smart home is positioned for a bright future
- Establishing mass market appeal
The Consumer – What You Need to Know
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- TVs and smoke/carbon monoxide detectors lead popularity of smart home devices
- Nearly a third of consumers own or are interested in seven or more smart home devices
- Younger consumers show more interest in a ‘connected’ smart home
- Smartphones are the device of choice to control/monitor the smart home
- Reducing energy use is on the mind of consumers
- Cost is a major barrier
Ownership of and Interest in Purchasing Smart Home Devices
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- TVs and smoke/carbon monoxide detectors are the most popular smart home devices
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- Figure 13: Ownership of/interest in purchasing smart home devices, December 2015
- Men are more likely to be interested in smart home products
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- Figure 14: Ownership of/interest in purchasing smart home devices (combined), by gender, December 2015
- Parents among the most likely to be interested in a smart home
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- Figure 15: Ownership of/interest in purchasing smart home devices (combined), parent vs non-parent, December 2015
- Chinese Canadians display significant interest in smart home devices
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- Figure 16: Ownership of/interest in purchasing smart home devices (combined), Chinese Canadians vs overall, December 2015
- Almost a third of consumers own or are interested in seven or more smart home devices
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- Figure 17: Repertoire of ownership of/interest in purchasing smart home devices, December 2015
Interest in Smart Home Connectivity and Control Mechanisms
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- Younger cohorts display more interest in a ‘connected’ smart home
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- Figure 18: Interest (any) in smart home connectivity, by age, December 2015
- Most prefer to control/monitor smart home devices via smartphones
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- Figure 19: Interest in how to control smart devices (any rank), December 2015
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- Figure 20: Interest in how to control smart devices (any rank), by age, December 2015
Attitudes towards Smart Home Devices
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- Reducing energy consumption is on the minds of consumers
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- Figure 21: Energy related attitudes towards smart home devices (any agree), December 2015
- Device compatibility
- Environmental concerns
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- Figure 22: Environment related attitudes towards smart home devices, December 2015
- Lowering monthly bills through smart home integration
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- Figure 23: Money saving related attitudes towards smart home devices, December 2015
Reasons for Disinterest in Smart Home Devices
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- Cost is a major barrier
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- Figure 24: Reasons for disinterest in smart home devices, December 2015
- Hacking devices are of concern for consumers
- Women are more likely to be disinterested in smart home devices
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- Figure 25: Reasons for disinterest in smart home devices, by gender, December 2015
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Abbreviations
- Terms
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