A study from Parks Associates, a leading authority in consumer and market research, shows a concerning trend in security threats stemming from smart device use.
The “Privacy and Data Protection for Connected Devices” report shows that 54% of U.S. households connected to the internet experience data privacy and security issues over 12 months. That’s a 50% jump from 2018 when 36% of homes reported problems.
“As we witness this surge in data privacy and security concerns, it becomes paramount for smart home industry players and service providers to prioritize consumer data apprehensions and redouble their efforts in securing their products,” said Jennifer Kent, vice president of research at Parks Associates. “After interoperability, the top reasons consumers gravitate to certain providers of smart home products are user experience and trust – trust that the company will properly handle personal data, and trust that the company will be present for the long haul.”
Over the past seven years, U.S. households have doubled the number of connected devices used in their homes. The report shows that 62% of smart home device users are wary of hackers gaining unauthorized access and control.
“While the growth in 2023 appears to be slightly slower than in previous years, this could be attributed to consumers exercising caution in the wake of historic inflation, layoffs, and looming recession fears,” said Kent. “We anticipate that device ownership will resume its upward trajectory in more favorable economic conditions.”
From the article, "More Than Half of U.S. Households Dealt With a Data Privacy Problem, Study Says" by Kayla Wassell
Most homes are “smart”: Consumer-tech tracking firm Parks Associates reports just over half of internet-connected U.S. households own at least one smart speaker. From the article, "The Radical...
Elizabeth Parks, president and chief marketing officer of Park Associates, said Disney’s biggest risk in the short-term is potentially losing advertisers, but large-scale subscriber losses for Disney+...
GTCR’s deal for SimpliSafe is unpacked with analysis from Kirk MacDowell and Elizabeth Parks covering strategy, competitive responses and the shift toward add-on services and market adjacencies. El...
Parks Associates appoints Cliff Raskind as consulting director and contributing analyst. The research firm, which focuses on the Internet of Things market, recently launched a consulting practice that...