Report: Smart Home Growth Impacted by Consumer Cybersecurity Concerns
Just over seven-in-ten (71%) of U.S. broadband households with smart home devices are concerned about cybersecurity, according to a new report about smart home cybersecurity concerns from Parks Associates.
Perhaps more importantly, one quarter of those who currently do not own smart home devices are also concerned about privacy and security, which keeps them from buying smart devices. An important data point for broadband carriers who are increasingly getting into the smart home business.
Among the other findings from the research:
- More than 40% of US broadband households do not trust companies to keep their data safe.
- More than half (54%) of US broadband households do not feel they get much in return for sharing data.
These concerns for cybersecurity create obstacles for growing a smart home business, but also present opportunities, particularly in rural markets. Rural broadband providers are often seen as trusted technology advisors, so providing cybersecurity advice and solutions should be welcomed.
“We are at a confluence of social, political, and technical events that make increased cybersecurity timely and create advantages for companies that take a leadership role in this area,” said Parks Associates contributing analyst Kenneth Wacks, in a prepared statement.