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Study: Cost, security holding people back from IoT devices
People love their smartphones, tablets and even streaming TV devices like AppleTV or Amazon's Fire Stick. But, when it comes to adopting other Internet of Things (IoT) devices - like smart thermostats or even security systems, the price and security fears are holding back purchasers.
Yahoo has released new data which shows some confusion on the part of consumers about IoT. For example, 70% of those surveyed say they own a connected device, but more than one-third say they don't know what IoT actually is. Researchers also found that nearly half (49%) of consumers don't know that many IoT devices - like smart home, security and TVs can be connected together, or can be monitored while they are away from home (47%).
"Over the past decade, connectivity among devices and people has grown significantly, giving rise to the Internet of Things, which refers to any internet-connected device that can be operated from a remote location," writes Sean Galligan, VP, Entertainment and Tech/Telco, Yahoo. "Not only is it important for marketers to better inform consumers about the devices they own, but it is also essential to educate non-adopters to increase awareness of available products and encourage them to purchase. Consumers are hungry for information: 41% of respondents said they were interested in learning more about the Internet of Things, particularly around pricing, benefits, and security. Brands have an opportunity to focus on these three messages in their advertising to provide consumers with the information they need to buy."
The full infographic can be found here. Among other interesting findings are these:
• Consumers are adopting smart appliances and watches for convenience and utility
• Consumers are adopting smart security options to increase their safety
• 36% say they are interested in smart automation/home devices
• 35% are interested in smart security and smart TV options
As for purchase intent, smart TVs rank the highest with 45% showing purchase intent, followed by streaming/connected TV devices (43% purchase intent) and gaming consoles (40%). Also in the top five are cloud computer storage devices (39% purchase intent) and fitness trackers (39% purchase intent).
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