Study reveals the rise in adoption of Internet of Things technology

Just 4% of consumers currently inhabit a world in which their home is connected by devices from the realm of the Internet of Things, according to Accenture's 'The Internet of Things: The Future of Consumer Adoption' report.

However, by the end of next year that number is expected to rise significantly reaching 13% as more than two-thirds (69%) of consumers plan to purchase an Internet of Things device.

Despite the proliferation of Internet of Things devices, the majority of consumers remain unfamiliar with the concept (87%) and 64% are not aware that the technology is available. In fact, despite the popularity of wearable technology, 40% of the 2,000 U.S. consumers surveyed did not know such technology was available.

Wearable technology will be the fastest growing, rising from today's 7% to 14% by the end of 2015 and doubling again to 28% by the end of 2016, predicts Accenture. Wearable fitness devices will be the mainstay with 22% of consumers owning or planning to own a wearable fitness device by the close of next year while smartwatches are the second most popular wearable with 5% planning to purchase one within the next 12 months.

Unsurprisingy, it is younger consumers who will be most likely to adopt connected technology. While just one third (32%) of those age 45 and over plan to purchase an in-home Internet of Things device by 2019, that figure rises to more than half (53%) among Millennials.

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Tags: technology, trends