Insights in Five:
Getting Smart with IoT
A Suzy Micro Report
June 2022
Insights in Five: Getting Smart with IoT
Also known as the Internet of Things (IoT), smart devices help us automate processes and stay connected. From smart security to IoT devices that help reduce energy consumption, smart technology is everywhere these days. With the explosion of smart devices on the market also comes an increase in security concerns. So how do consumers really feel about smart technology in their lives?
54% of consumers worry about their privacy.
When buying new electronics, consumers primarily shop at:
61% Amazon
54%
Another 40% worried about how their data is used. Thanks to headlines about data breaches and smart baby monitor hacking, it’s not surprising that consumers are a little wary about IoT.
55% 42%
Big box stores, like Walmart and Target
Best Buy
21% Online retailers
To go green and reduce their energy consumption, consumers were open to purchasing:
34%
53% LED smart light bulbs
41%
41%
Smart
Smart fridge
thermostats
34% of consumers are interested in integrating smart security devices into their homes.
38% Water heater
32% Dishwasher
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Over a third (37%) of consumers were interested in converting their home into a smart home. To do so, consumers planned to buy these devices first:
29%
31%
Smart speaker
Smart lock
Key Takeaways Safety First Security matters to consumers. Smart devices that offer security are the top devices they want to purchase, but they also have concerns about their own data and safety. Brands need to be transparent about how any data they collect will be used, and smart devices must have security settings. Be sure to include detailed instructions on how consumers can secure their smart devices.
Going Green, Little by Little Making sustainable choices is a big lift for many consumers. Adopting smaller devices, like smart lightbulbs and thermostats, allows consumers to take cost-effective steps towards living in a more eco-friendly way. For larger items, like smart fridges and smart water heaters, emphasize cost savings over the long term.
37%
Smart lights
Convenient Automation
37%
Smart TV
Major appliances, like smart refrigerators, dishwashers, and water heaters, make managing a household more simple for consumers through automation. Plus, they put control in the hands of the consumer, often literally in their pocket on a smartphone. Encourage adoption by emphasizing how smart appliances can make consumers’ lives easier.
Bottom Line: Focus on smart device security and privacy to improve consumer buy-in. Emphasize cost savings and the simplicity smart devices can bring to their lives.