Is smart home only a high-income household scene? The prices of smart home products can be seen to getting lower, however, families to adopt them seem to be limited more on the ones having higher income in Canada.
According to the latest report from an IoT research firm, Parks Associates, high-income households are the major force driving smart home adoptions in Canada. 19% of Canadian households with an income of $100,000 or more have at least one smart home connected device, while only 5% of the households with less than $50,000 income answered ‘yes’ to the question.
Among all broadband households, 11% of the Canadian houses own at least one smart home device.
As for smart home device categories, the report shows that smart programmable thermostats are the most embraced devices in the households, with a 5% adoption of the all surveyed Canadian households and 13% of the ones making $100,000 or more.
Security-related devices are the following popular devices in these smart homes, surpassing products like smart appliances and blinds. About 20% of the households in Canada own a security system with professional monitoring. Also, 50% of them who already have professional monitoring would like to switch service providers with smart home capability offerings.
“The transition to interactive services and home controls is now mainstream and is attracting first-time subscribers to the security market. The move toward self-installed security systems has been more dramatic, accounting for half of the security systems installed in the last year,” said Jason Paris, the director of business development in Parks Associates, in the press release.
The smart home capability is playing a more and more important role, even as a differentiator, in the Canadian home security service market, Paris also pointed out in the announcement.
The firm’s announcement did not indicate the survey range or the conducted timeline.