No doubt, connected devices are an increasingly hot commodity as the Internet of Things market continues to grow and will again be a major focus at the 2015 Consumer Electronics Show this week in Las Vegas. However, the one issue that could put a damper on this growth is consumer concerns about data privacy issues and sharing personal information.
Today, TRUSTe released some interesting new data related to the privacy concerns surrounding the growing Internet of Things (IoT). Two studies commissioned by TRUSTe, one in the U.S. and one in the U.K., show that 35% of U.S. consumers and 41% of British consumers own one or more smart devices other than a smart phone. The survey also showed that 79% of U.S. consumers and 80% of British consumers are concerned about the idea of their personal information collected by smart devices.
Slightly more Americans (20%) than Brits (14%) believe that the benefits of smart devices outweigh any privacy concerns, however both numbers are notably low. Perhaps not surprisingly, the majority of consumers – 69% of U.S. consumers and 73% of British consumers – believe they should own any data collected through their smart devices, raising even more questions around the uncertainties of privacy in the big data era.
Read more “Majority of Consumers Want to Own the Personal Data Collected from their Smart Devices [SURVEY]”
By Aaron Weller, Al Sweeny, Brad Chin and Radhika Srivastava of PwC
There is a lot of anticipation, investor excitement, and hype regarding the potential benefits of the Internet of Things (IoT), as often happens with transformational products at the start of their adoption cycle. Beyond just getting the initial devices out the door, forward thinking organizations need to consider the steps to be taken throughout the entire product lifecycle; i.e. how will these devices be supported and maintained over time? Speed to market in the IoT realm can have unintended and expensive consequences.
Consideration should be given to devices that may have an extended operational lifespan or whose software goes through several iterations of updates or releases. For instance, how often do people replace their refrigerator? If the device is smart, the expectation is that the features and functionality will evolve over the lifecycle of the product. We have already seen this occur in televisions where Samsung has provided ‘upgrades’, including additional processors and memory to enable the use of advanced smart features.
Read more “How the Internet of Things Transforms the Product Lifecycle”
New research for TRUSTe released today, shows that consumer privacy concerns (#iotprivacy), could hinder the growth of the Internet of Things (IoT) market. The research findings in the U.S. and Great Britain reveal that 59% of U.S. internet users and 47% of British internet users know that smart devices, such as smart TVs, fitness devices and in-car navigation systems can collect data about their personal activities. A Gartner study recently predicted that there will be 26 billion connected devices by the year 2020, but our latest research shows consumers want more information and controls before purchasing or using a smart … Continue reading Internet of Things Industry Brings Data Explosion, but Growth Could be Impacted by Consumer Privacy Concerns