New research in partnership with Iris Powered by Generali addresses growing trust concerns for data privacy and security in the connected home

Parks Associates’ new research white paper Data Privacy and Security in the Connected Home, developed in partnership with Iris® Powered by Generali (“Iris”), a B2B2C global identity and cyber protection provider, highlights the risks posed by internet-connected devices, consumers’ perceptions of these risks, and the role smart home platforms can play in mitigating threats. The research firm reports that 72% of smart home product owners are concerned with the security of the personal data collected by their devices. Among all US internet households, nearly one-half report experiencing at least one privacy or security issue in the past year.

“Consumers’ homes are becoming more complex and, in turn, more vulnerable to privacy and security breaches,” said Kristen Hanich, Research Director, Parks Associates. “Many consumers do not know how to properly manage and secure these devices, leaving them at risk for identity theft, fraud, and invasive data collection.”

This research highlights the role of consumer trust as a key differentiator for players in the connected home space. The white paper provides insight into the steps consumers can take to protect themselves, including reviewing privacy policies and settings, registering with manufacturers to update software and disable remote access, segregating devices onto a separate Wi-Fi network, enabling two-factor authentication and password managers, and enrolling in identity theft and personal cyber protection services.

“With the number of internet-connected devices in the average home steadily increasing, every new device is a potential new avenue for cyber threats,” said Paige Schaffer, CEO of Iris. “This is why this research we developed in partnership with Parks Associates will be an invaluable educational resource for consumers and smart home technology providers alike.”

As trust becomes a key differentiator for players in the connected home space, companies can provide customers with easy-to-use tools to identify risks and protect their identities and data. In fact, 59% of US internet households, when presented with guarantees such as the right to approve data collection or who can access it, rated at least one of these solutions as highly effective in relieving their privacy and security concerns.

The white paper is available for download on the Parks Associates website.

About Parks Associates

Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. A woman-owned and woman-led company, Parks Associates is a trusted partner and advisor to executives, providing custom research, strategic consulting, and forward-looking analysis across smart home, small business, and commercial markets, including security, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.

Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.

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