As the number of connected devices in our homes continues to grow, so does the concern over privacy invasion and hacking. The average number of connected devices in a home is 16, with smart home device owners having an average of eight smart home devices. With the increasing adoption of these devices, the level of concern and the number of problems experienced also rises.
Privacy and security concerns heavily influence the adoption of connected devices. In fact, according to Parks Associates’ consumer data, 25% of the market is hesitant to adopt technology due to data privacy concerns. This means that cybersecurity and other privacy protection features could be the key to motivating potential customers to commit to a device purchase and monitoring subscription.
But it’s not just prospective purchasers who have concerns. Current device users are also impacted by privacy and security issues, affecting not only how they use their smart home devices but also their willingness to purchase more. In fact, 72% of consumers are concerned about the security of their personal data collected and transmitted by devices, as well as someone gaining unauthorized access or control of their smart devices.
Among smart home device users, 55% are worried about hackers and 39% fear technology companies having unauthorized access. This fear of privacy violations from legitimate entities has been persistent among consumers, with only 37% of consumers trusting the companies that have access to their data.
To address these concerns, there is an increasing interest in add-on security services for smart/connected devices. These services offer increased protection and privacy in both residential and commercial settings. Residential customers value the additional security in their homes, while commercial customers such as businesses and property managers can enhance the security of their devices and overall commercial space.
Surprisingly, security providers are not currently leveraging this interest in add-on cybersecurity services. According to Parks Associates’ research, only 21% of security companies that offer professional monitoring plan to add cybersecurity services within the next year. This presents an opportunity for the industry to address the growing concerns and build trust among consumers by offering comprehensive security solutions.
In conclusion, privacy and security concerns pose significant barriers to the adoption of smart devices. As the number of connected devices in our homes continues to increase, so does the need for comprehensive security measures. By addressing these concerns and providing holistic privacy protection features, industry players can build trust and motivate customers to fully embrace the benefits of smart home technology.
FAQs
Q: How many connected devices are there on average in a home?
A: On average, there are 16 connected devices in a home.
Q: What percentage of the market is hesitant to adopt technology due to data privacy concerns?
A: According to Parks Associates’ consumer data, 25% of the market is hesitant to adopt technology because of data privacy concerns.
Q: How many consumers are concerned about unauthorized access or control of their smart devices?
A: 72% of consumers are concerned about someone gaining access or control of their smart devices without permission.
Q: How many consumers trust the companies that have access to their data?
A: Only 37% of consumers trust the companies that have access to their data.
Q: What percentage of security companies plan to add cybersecurity services within the next year?
A: According to Parks Associates’ research, only 21% of security companies that offer professional monitoring plan to add cybersecurity services within the next year.
Conclusion
Privacy and security concerns are significant barriers to the adoption of smart devices. As the number of connected devices in our homes continues to grow, so does the need for comprehensive security measures. By addressing these concerns and offering holistic privacy protection features, the industry can build trust among consumers and encourage them to embrace the benefits of smart home technology.