the connected home: are you ready?€¦ · machines, meters, sensors, mobile communication devices,...
TRANSCRIPT
Virtual Round Table Series
2017
The Connected Home: Are You Ready?
Rich BinsaccaDirector + Chief CommunicatorHousing Innovation Alliance
AGENDA
Why we’re doing thisWhat’s driving itHow we’re doing itWhat we’ve found (so far)How do you respond?Q+AWhat’s next?The Housing Innovation Alliance
Why We’re Doing This
WHY WE’RE DOING THIS
Builders are asking …• What’s my opportunity?• What’s my role?• Who can I turn to for support?• What are the risks?• Is now the right time?
Develop a baseline of relevant information about the Connected Home and deliver intelligence and
analysis for the Alliance community and the U.S. housing industry
Current state of IoT for housing
Trends + trajectories
Real-world case studies
WHY WE’RE DOING THIS
WHAT’S DRIVING IT?
Connected Home Drivers• Connected consumers
Connected Home Drivers• Connected consumers • Convenience + savings
WHAT’S DRIVING IT?
Connected Home Drivers• Connected consumers • Convenience + savings• Technological advancements
WHAT’S DRIVING IT?
WHAT’S DRIVING IT?
Connected Home Drivers• Connected consumers • Convenience + savings• Technological advancements• Data analytics + leverage
WHAT’S DRIVING IT?
Connected Home Drivers• Connected consumers • Convenience + savings• Technological advancements• Data analytics + leverage• New players
How We’re Doing It
DEFINITION OF KEY TERMS
The Internet of Things (IoT) is defined as machines, parts of machines, meters, sensors, mobile communication devices, personal computers, retail goods and wearables that interconnect among each other and/or by human interaction, enabling them to autonomously exchange or share data.
A Connected Home (or Smart Home) is defined as a dwelling that features or offers at least one product or system, such as security or indoor comfort, that is connected to the Internet and controlled by the homeowner from the device itself, a fixed panel, personal computer and/or mobile device.
HOW WE’RE DOING IT
HOW WE’RE DOING IT
Survey: Builders, Buyers + Smart Homes• 300+ homebuilders• Builder interest + concerns• Buyer interest + concerns• Smart home features, costs + markup• Value to the builder
Open until March 8
HOW WE’RE DOING IT
Interviews• Builders• Solution providers• Researchers• Other industry experts
What We’ve Found
WHAT WE’VE FOUND
There are lots of connected “things” …
WHAT WE’VE FOUND
0 5 10 15 20 25 30 35 40 45 50
Automatic shading
Motion-sense lighting
Garage door openers
Light bulbs
Video intercom/doorbell
Alarms/Detectors
Security Cameras
Lighting
Thermostats
Most Popular Connected Home DevicesPercent installed during a recent renovation
Source: U.S. Houzz Smart Home Trends Study, 2016
WHAT WE’VE FOUND
“I think there’s … a segment of the population that likes to have things already baked after moving in. But another segment of the population … just wants to have what we call a single point solution, meaning they just want to buy a doorbell camera … and then customize their system themselves as they go.”
— Trevor Lambert, senior director of brand managementVivint Smart Home
Source: builderonline, September 2016
WHAT WE’VE FOUND
70%People more likely to buy another smart home product
after buying their first one
Source: Coldwell Banker Real Estate Smart Home Marketplace Survey, Jan. 2016
WHAT WE’VE FOUND
0 5 10 15 20 25 30 35 40
Just not interested
Too expensive
Concerns about privacy
Don't see/understand the benefits
Concerned technology will be outdated
Just don't know enough about it
Too glitchy
Too difficult to use
Could not find the right installer
Could not find the right product
Why Not a Connected Device?Reasons given for not upgrading to a connected device
Source: U.S. Houzz Smart Home Trends Study, 2016
WHAT WE’VE FOUND
0 10 20 30 40 50 60 70 80
Phone/cable company
Home builder
A/V retailer
Computer/IT company
Security company
Expectations Among Device Providers
Expected to Provide Trusted to Do a Good Job
Source: TecHome Builder Market Pulse Survey, Fall 2016
WHAT WE’VE FOUND
“Today, most connected homes use at least two or three protocols across various silos, each device with its own apps and protocol,
with no standardization.”
Source: IoT Daily, Connecting the Disconnected Smart Home, Feb. 2017
WHAT WE’VE FOUND
Source: McKinsey & Company: The Connected Home Market
0 10 20 30 40 50 60 70 80 90 100
Afraid of being hacked
Won't purchase for privacy concerns
Concerned about identity theft
Concerned about privacy
Consumer Security ConcernsPercentage of people responding
WHAT WE’VE FOUND
Connected System Nothing/Not Interested
$99 - $499 $500 - $999 > $1,000
Monitored security, remote door locks, remote controlled thermostat, front door camera
42% 36% 12% 9%
Remote-controlled window shading56% 33% 7% 5%
Three-zone/room audio including in-wall speakers 59% 26% 8% 7%
Precise indoor climate control, including temperature, humidity and air quality via remote control
41% 40% 10% 10%
Energy use monitoring of major appliances and devices and guidance for energy savings 46% 39% 8% 6%
Pricing Thresholds For smart devices + systems
Source: AE Ventures Connected Home Consumer Study, Fall 2016
WHAT WE’VE FOUND
WHAT WE’VE FOUND
Next-Gen Technologies• Automated device set-up• Faster broadband speeds• Voice-activated controllers• Multiple connections
Proprietary PlatformCellularBluetoothWi-Fi
How Do You
Respond?
HOW DO YOU RESPOND?
The Builder’s Role• Provide the backbone
HOW DO YOU RESPOND?
The Builder’s Role• Provide the backbone• Be an authority … and a conduit• Define needs & budget• Seek partnerships … on your terms
Q+A
What’s Next?
WHAT’S NEXT?
• Finish the survey • Conduct 1-1 interviews• Synthesize the data + identify key findings• Present updated findings at the Innovation Summit• Publish the findings + initiate discussions• The Connected Home Phase 2?
WHAT’S NEXT?
Virtual Round Table #2: The Connected Business• The impact of IoT on the
homebuilding business• New business models• Managing big data + taking action• Data security
March 16 @ 11am EST
WHAT’S NEXT?
INNOVATION SUMMITApril 25-26 | Denver, CO
Collaborative Insights for Housing Innovation
www.housinginnovationalliance.com
