Further research into the topic by Parks Associates concurred with the F&S/CABA study’s general thrust that IoT is a land of plenty offering consumers convenience, efficiency, collaboration and expanded products and services. Worryingly, though, it added that concerns about privacy and data security posed major challenges to the industry; identity theft, invasive data mining, cyber-terrorism, and physical dangers from hacked devices were scaring consumers. It urged the industry that it had a duty to safeguard consumers and the data that is an extension of them.
In the survey, approximately half of broadband households expressed privacy or security concerns about smart home devices. Identity theft or data theft by hackers was the first or second leading privacy concern in eight of nine product categories surveyed. “Essentially, with big data comes big responsibility,” Parks warned.
On a brighter note, Parks also revealed that a combination of privacy rights can relieve up to 74% of privacy concerns. (Apart from those worrying about their Ashley Madison account?)
From the article "In Every Dream Home a Security Heartache" by Joe O'Halloran.
As Elizabeth Parks, President and CMO of Parks Associates, details on a LinkedIn post mulling over the recent buyout of Vizio by Walmart: “For TV manufacturers and smart TV platform owners alike, t...
According to Parks Associates, smart home device adoption is increasing, with nearly 30% of U.S. internet households now having three or more smart home devices. Additionally, as we are seeing smart h...
In a recent Parks Associates study, residents consistently provided higher ratings for properties that provided smart home devices versus those that didn’t. Roughly 74% of participants* rated energy s...
Recent findings from Parks Associates indicate a significant shift in consumer attitudes towards home security, with a majority now leaning towards self-monitored systems over traditional, professiona...
