New data from Parks Associates (www.parksassociates.com) finds 47% of U.S. broadband households are concerned their private information stored on connected devices could be made public.
Another 47% are worried companies will sell their personal information. Both findings present challenges for companies as they look to leverage connected product data to enhance the consumer experience and deepen engagement.
“Nearly 50% of U.S. broadband households plan to buy a smart home product in 2016, and two-thirds already have at least one Internet-connected entertainment device,” said Stuart Sikes, president, Parks Associates. “The data generated by these devices can extend the product lifecycle and open many new value propositions to consumers. In this webcast, we will discuss the best ways to use data in the expanding consumer IoT environment and how to alleviate consumer concerns so that they recognize the security of their data and the value created through connectivity.”
“We often say that the ‘gold’ of the smart home market lies in IoT data analytics and the business intelligence that manufacturers can extract from the real-world usage of their connected products,” said Josh Pederson, senior product manager, Ayla Networks. “But as the smart home market grows in size and sophistication, manufacturers will find it increasingly difficult to extract that gold as they discover the deep challenges of interoperability, security, and other technical requirements they never had to face with their non-connected products. Most manufacturers will find enormous cost, time, and quality advantages of using a comprehensive IoT platform to build their connected smart home products.”