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6/18/2015 Consumer Adoption Could Drive IoT Initiatives/ | App Developer Magazine
https://appdevelopermagazine.com/2856/2015/6/13/ConsumerAdoptionCouldDriveIoTInitiatives/ 1/3
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Consumer Adoption Could Drive IoTInitiatives
Posted 5 days ago by RICHARD HARRIS, Executive Editor
ThroughTek, a cloud-based platform for Machine-to-Machine (M2M) and Internet of Things (IoT)industry operations provider, has announcedfindings from its “2015 Internet of ChallengesReport” around consumer adoption and identifiedchallenges regarding the Internet of Things (IoT).The online survey was taken in May 2015 andincluded 1,181 adults. The figures have beenweighted to be representative of all US adults 18and older.
The survey found that one in three (31%)respondents believe a fully connected home will be achievable in the next year, and 60 percentwithin the next five years, with 59 percent of consumers being drawn to the benefits of IoT-driven energy efficiency.
Two main items that could keep consumers from adopting IoT technology were cost andsecurity. The study shows that 88 percent of respondents were unwilling to pay more than $250for a connected device, while 27 percent are primarily anxious about lack of security for theirpersonal data.
Additional findings from the report include:
- Energy efficiency is top benefit for IoT adopters, particularly among Millennials: One in four(27%) respondents are keenly interested in the green benefits of connected homes. Millennials(18-34 year olds) are the demographic most interested in IoT-driven energy efficiency (32%),compared to those 55 years or older (21%). Additional principal benefits of IoT adoptioninclude bolstered home security (23%) and management of home entertainment and media(16%).
- Cyber security concerns are the number one obstacle for home IoT adoption: For one in fourconsumers, security remains the highest concern when purchasing a connected device withsensitivity around the use of personal data is a chief concern for one in five consumers (20%).Moreover, security concerns are almost 50 percent greater for consumers over 55 years of age(32%), verses those aged 18-34 (22%).
- The golden price point for an IoT-connected device is $125: Price is a vital consideration inimplementing a connected home, as consumers are comfortable spending approximately $125
on a connected device. However, men are willing to spend more on the technology ($140average), compared to women ($108 average). Additionally, consumers on the US west coast
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average), compared to women ($108 average). Additionally, consumers on the US west coastare comfortable spending more on a connected device ($160 average), versus the east coastconsumer who would prefer to spend no more than $136, on average.
- Confidence in device longevity is essential to consumer adoption: One in four consumers areconcerned about their connected devices becoming obsolete or out of date. However, thecomplexity of IoT devices is not a concern for 84 percent of consumers, and ultimately will notdeter them from making a purchase. Only 14 percent of Americans perceive that connectedtechnology installation is too complex.
Read More http://www.throughtek.com/...
Tags: IoT Connected Home Machine-to-Machine M2M Internet of Things
About the author: RICHARD HARRIS, Executive Editor
As the co-founder of App Developer Magazine, Richard has several industryrecognitions and endorsements from tech companies such as Microsoft, Appleand Google for accomplishments in the mobile market. He was part of the earlyGoogle AFMA program, and also involved in the foundation of Google TV. Hehas been developing for mobile since 2003 and serves as CEO of MoonbeamDevelopment, a mobile app company with 200 published titles in variousmarkets throughout the world. Richard is also the founder of LunarAds, amobile cross-promotion and self-serv mediation network for developers. Hehas been a featured presenter at trade-shows and conferences, and staysactive with new projects relating to mobile development.
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6/18/2015 Consumer Adoption Could Drive IoT Initiatives/ | App Developer Magazine
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