Smart homes, homes that contain smart devices, are becoming increasingly common. 69% of all American households own at least one smart device. Millennials alone spend an average of $1,226 per year on smart devices. Ultimately, people want the convenience that these devices offer.

Still, convenience can mean a lot of things. While smart speakers, TV’s, and hubs are certainly some of the most common devices. Others, like smart thermostats, heaters, and lightbulbs, are a lot more directly practical. These devices save time and money all throughout the year, convenience, but a practical convenience. 

Although there is still an undeniable issue, these devices are expensive, very expensive. 51% of smart device buyers, not the market at large, consider the devices too expensive. Smart devices can also be hard to get used to, especially for older markets. This explains, in part, the greater rates of smart homes in younger generations.

So in the end these devices aren’t for everyone, at least today. As time passes though these devices cheapen, become easier, and become more useful. Today 63% of people want to have a home with a smart security system, just one facet of smart homes. The industry is growing year over year, and it won’t be long before they’re seen in most homes in America.