Should UK Energy Suppliers Be Excited About Spike In Smart Device Ownership?
Smart devices ownership has doubled in the last couple of years. Consultants PwC analyzed UK consumer attitudes towards smart technology and tell us that the rising market is lucrative for energy suppliers. Their first consumer survey was done in May 2016. The survey talks about the increase in the intention of people of buying smart devices has grown by 14%.
The survey also told us that about 40% of the people use a smart entertainment device to enter the connected home market. More affordable technology and the capability of connecting and managing a variety of smart devices is why the penetration rate of devices is set to increase by 2020.
While tech giants are already creating products that capture data to provide differentiating insights and a seamless user experience, traditional suppliers are increasingly turning attention to converting smart home tech into a sustainable revenue stream.
Consumer trust about the customers could likely become an obstacle for energy suppliers. Younger consumers are more likely to use a smart device as they trust in tech companies to supply and install the devices more than the energy companies. With a distinct shift towards customer experience, the companies need to offer better services and customer propositions.
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