Emerging trends: how is the Internet of Things (IoT) transforming our homes

Abstract

Objectives: Explore the appeal and the adoption rate of Smart home solutions among Romanian consumers. Additional: Explore the awareness and usage of different Smart home solutions; identify drivers and barriers when it comes to different Smart home?solutions acquisitioning; explore the decision?making process and customer journey when it comes to deciding to purchase Smart home solutions; profile Smart home solutions users vs. intenders; identify and explore emerging trends in Smart home solutions. Prior work: As the technology has become more widely available, Romanians – ever vigilant about their home comfort and wellbeing – are increasingly looking for solutions to transform their home into a “smart” one. It’s critical to understand how this increasing awareness of Smart home solutions will manifest itself in satisfying consumers’ needs and motivating purchase. Approach: Our study was conducted in April 2017 through an online survey on our platform http://questia.ro covering 534 respondents. Results: Romanian consumers awareness for IoT is rather medium: a quarter of the respondents (29, 4%) heard about this concept. Out of those who are familiar with IoT, many are decrypting the concept as more connected to technology and less to one’s personal life. Also, safety, money, and sustainability are less perceived to be related to the IoT, pointing out to the more problematic aspects that are brought in debates and research for this concept. Implications: This study will offer key insights and actionable recommendations for tech companies in leveraging consumers’ increasing awareness, interest, and preferences in Smart home solutions, so as to be able to direct and adjust their product and marketing strategies. It will also bring clearer understanding for researchers and professionals of the concept of Smart home. Value:The current paper assesses the potential of Smart home solutions in Romania, focusing on the new opportunities opened by IoT technology. The topic tackled is rather new in the Romanian market research field, clearly underlying the emerging developments in the field.