CHART OF THE DAY: The 'Connected Home' Is Still Too Expensive For Many Consumers

Connecting every aspect of our homes to the internet is an exciting prospect: By automating our homes, we can control them from everywhere, optimising our satisfaction (who doesn’t like walking into a warm home on a cold winter day?) and even our energy bills. The technology is there, but consumers are still wary of this trend.

According to data from Bloomberg and Survey Monkey charted for us by BI Intelligence, about 58% of people who don’t currently own a “connected home” product say they’re holding off because the technologies are still too expensive. There are other concerns, too: Some believe they may not be knowledgeable enough to operate these devices properly, while others are worried about the security of connected home products, and whether companies are sharing their most intimate data with advertisers. There are plenty of hurdles the “connected home” must overcome, but its biggest obstacle may soon be a non-issue: A recent report from The Wall Street Journal says “the costs for creating a connected home are dropping.”

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