Household willingness-to-pay for smart home functionalities in Singapore

In light of the Smart Nation vision of Singapore, this paper attempts to establish the willingness-to-pay for different types of Smart Home functionalities among Singaporean households in 2016 and analyses the factors that affects households’ investment decision in Smart Home. Data were collected th...

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Main Authors: Low, Nicole Ni Qi, Tan, Li Hoey, Yu, Zhuoran
Other Authors: Quah Teong Ewe, Euston
Format: Final Year Project
Language:English
Published: 2016
Subjects:
Online Access:http://hdl.handle.net/10356/66384
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-663842019-12-10T14:12:25Z Household willingness-to-pay for smart home functionalities in Singapore Low, Nicole Ni Qi Tan, Li Hoey Yu, Zhuoran Quah Teong Ewe, Euston School of Humanities and Social Sciences DRNTU::Social sciences In light of the Smart Nation vision of Singapore, this paper attempts to establish the willingness-to-pay for different types of Smart Home functionalities among Singaporean households in 2016 and analyses the factors that affects households’ investment decision in Smart Home. Data were collected through household surveys with the adoption of the close-ended contingent valuation method. The results suggest that households generally have a positive view toward the Smart Home concept. With the exception of the automation functionality, households have willingness-to-pay at least as high as the current market prices for display and remote access functionalities. Age, gender, household income and environmental awareness also determine a household’s willingness to invest in Smart Home functionalities. In addition, foreseeable concerns need to be addressed before a market penetration is viable. Bachelor of Arts 2016-03-31T07:09:03Z 2016-03-31T07:09:03Z 2016 Final Year Project (FYP) http://hdl.handle.net/10356/66384 en Nanyang Technological University 38 p. application/pdf
institution Nanyang Technological University
building NTU Library
country Singapore
collection DR-NTU
language English
topic DRNTU::Social sciences
spellingShingle DRNTU::Social sciences
Low, Nicole Ni Qi
Tan, Li Hoey
Yu, Zhuoran
Household willingness-to-pay for smart home functionalities in Singapore
description In light of the Smart Nation vision of Singapore, this paper attempts to establish the willingness-to-pay for different types of Smart Home functionalities among Singaporean households in 2016 and analyses the factors that affects households’ investment decision in Smart Home. Data were collected through household surveys with the adoption of the close-ended contingent valuation method. The results suggest that households generally have a positive view toward the Smart Home concept. With the exception of the automation functionality, households have willingness-to-pay at least as high as the current market prices for display and remote access functionalities. Age, gender, household income and environmental awareness also determine a household’s willingness to invest in Smart Home functionalities. In addition, foreseeable concerns need to be addressed before a market penetration is viable.
author2 Quah Teong Ewe, Euston
author_facet Quah Teong Ewe, Euston
Low, Nicole Ni Qi
Tan, Li Hoey
Yu, Zhuoran
format Final Year Project
author Low, Nicole Ni Qi
Tan, Li Hoey
Yu, Zhuoran
author_sort Low, Nicole Ni Qi
title Household willingness-to-pay for smart home functionalities in Singapore
title_short Household willingness-to-pay for smart home functionalities in Singapore
title_full Household willingness-to-pay for smart home functionalities in Singapore
title_fullStr Household willingness-to-pay for smart home functionalities in Singapore
title_full_unstemmed Household willingness-to-pay for smart home functionalities in Singapore
title_sort household willingness-to-pay for smart home functionalities in singapore
publishDate 2016
url http://hdl.handle.net/10356/66384
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