Smart Home and IoT: Consumers want money for their usage data

Consumers want money or discount deals in exchange for usage data, but many are worried about security. These are just a few of the results of Intel Security’s recent Internet of Things and Smart Home Survey.

In the year 2025, intelligent, networked houses will be as common as smartphones are today – 84 percent of German respondents to a survey on the topic “Internet of Things and Smart Home” are convinced by Intel Security. 57 percent of Germans would share the personal data collected by the networked devices with companies for money. As many as 64 percent believe that companies should provide coupons and discounts in exchange for the data.

Millennials, the world’s 18- to 33-year-olds, would most like to receive money, discounts, and coupons in exchange for their smart home device behavioral data (63 percent cash, 44 percent discounts, and 29 percent coupons). The German average is 43 percent for money, 45 percent for rebates and 25 percent for coupons. However, new technologies also pose new dangers. 61 percent of respondents in Germany are afraid of being attacked by cyber criminals.

The survey was conducted in July 2015 by Vanson Bourne, an independent market research firm for the technology sector. A total of 9000 consumers worldwide were interviewed, including 2500 from the US, 1000 from the UK, France, Germany, Brazil and India, and 500 each from Canada, Mexico and Australia.

“Smart homes and data have the potential to significantly improve consumers’ lives,” said Steve Grobman, Intel Security Chief Technology Officer. “The survey shows that users are willing to share their data for money, but understandably that they are worried about cyber attacks. Security is a fundamental requirement for the Internet of Things and, properly used, can also make many things possible. ”

Generally, respondents are concerned about potential security threats to smart homes. For example, 91 percent of Germans are concerned that their personal data could be hacked by cyber criminals. 87 percent said they would like to protect all networked devices with a single integrated security package.

The respondents were not very enthusiastic about existing security methods such as passwords. 69 percent of the German respondents find passwords in the smart home frustrating and do not know how to keep track of the number of different passwords. As an alternative, biometric authentication methods performed well in the survey. Asked which forms of biometric security they would prefer, 53 percent gave the fingerprint, 39 percent the voice recognition and 34 percent eye scans.

Smart home lighting (69 percent), networked thermometers or boiler systems (62 percent), as well as smart kitchen and household appliances such as refrigerators and washing machines (58 percent), are the most popular smart home appliances in Germany.

Almost three-quarters (74 percent) of German consumers expect personal benefits from living in a smart home, such as more time for the family. In the US, this is only 57 percent. Half of the respondents expect that the bills for home heating and cooling (51 percent) and gas and electricity (50 percent) in a smart home will be reduced.

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