2015/08/03 Insurance Providers More Preferred than Apple or Samsung by Smart Home Shoppers

45% of Consumers Ready to Shop for Smart Home Products and Services Will Consider Security Providers; 35% Home Insurance Companies

Boston, MA - July 27, 2105 - Strategy Analytics’ survey of 7,000 consumers in France, Germany, Italy, Spain, the UK and US revealed a high preference for security service providers and home insurance companies when shopping for smart home products and services.  Their electricity or broadband provider and mobile carrier are next in line with 28% to 30% of shoppers planning to consider these types of firms. Specialty electronic and home improvement retailers such as Best Buy, The Home Depot and Lowe’s fall between Samsung and Apple in the preference rankings. Pay TV providers and eTailers are the least likely to be considered. Country comparisons of this finding and preferences and willingness to pay for key smart home capabilities are detailed in Smart Home Strategies’ report: “Global Insights from Strategy Analytics' Smart Home Consumer Survey.”

Click here for a copy of the report.

Key findings from the report:

• Shopping preferences are relatively similar from country to country with a big exception being consumers in France planning to seek smart solutions from home insurance providers above all others.

• There is considerable interest in professionally-monitored security, but at prices 50% less than what is currently charged… opening the door to disruptive business models.

• Respondents indicated clear preferences in the services and capabilities that they are willing to pay for

• 21% indicated a willingness to pay for the ability to monitor activities in the home with existing cameras

• 15% reported a willingness to pay for the ability to monitor selected activities (e.g., window open / closed) around the house.

• Germans are much more willing to pay for safety monitoring capabilities, e.g. fire, smoke and CO detection, than consumers in other countries

• Overall, US consumers are the most likely to acquire smart home solutions.

Quote: Bill Ablondi, Director, Smart Home Strategies said: “I was surprised to see how high home insurance providers ranked in consumers’ minds as a source for smart home solutions. This finding clearly supports More Th>n’s launch of a smart home offering in the UK this year. Companies including Liberty Mutual and State Farm in the US and Allianz in Europe among others are exploring their options in this space.”

About Strategy Analytics

Strategy Analytics, Inc. provides the competitive edge with advisory services, consulting and actionable market intelligence for emerging technology, mobile and wireless, digital consumer and automotive electronics companies. With offices in North America, Europe and Asia, Strategy Analytics delivers insights for enterprise success. www.StrategyAnalytics.com 

Contacts: 

Bill Ablondi, +1 617 614 0744, wablondi@strategyanalytics.com

Joe Branca, +1 617 614 0798, jbranca@strategyanalytics.com

Source: Strategy Analytics