Two recent studies on consumer views towards the Internet of Things provided some interesting insight into the future of smart products. The studies found that the biggest challenges that face the adoption of the Internet of Things included:
- Fears about privacy and security. About half of consumers are concerned about data sharing and the possibility of hacking.
- The need to provide real value. Consumers feel that smart products out there are too gimmicky.
- A need to reach more consumers. The majority of people were unfamiliar with the term “Internet of Things”.
- Price paranoia. Consumers believing that a smart product would be more expensive.
- Consumers fear a loss of control. Consumers believe that the smart device would take an automatic action that they would not want to happen.
Infographic Source: AdWeek