IoT adoption marred by lack of trust

Even though consumers see tangible benefits of the Internet of Things (IoT) adoption, many have their doubts regarding security, trust and safety, and that could seriously hurt the adoption of the new technology.

Those are the results of a new study conducted by global mobile trade body Mobile Ecosystem Forum (MEF). The Global Consumer Survey asked 5,000 mobile users in eight markets about the future of the connected world.

Globally, 60 per cent of consumers are worried about the new technology, especially in the emerging markets such as Brazil, India and South Africa (66 per cent). The biggest concerns are trust (62 per cent) and security (54 per cent), followed by physical safety (27 per cent), and not being able to fix the technology (24 per cent).

Ten per cent said they couldn't see the benefits of a world filled with IoT devices.

“Whilst this survey shows that consumers are excited about a future connected world, it also clearly identifies the need for the industry to consider how such technology and services are rolled out when it comes to building a trusted relationship with consumers” said Rimma Perelmuter, CEO of MEF.

“The business opportunities surrounding IoT are clear, but only if industry heeds the lessons of the broader mobile ecosystem when it comes to the paramount importance of building consumer trust at the outset. Our 2016 Global Consumer Trust Report demonstrated the demand for transparency in mobile apps and services with 64% saying it’s important to be told when an app is collecting and sharing personal information. This new report reaffirms the need for all stakeholders in the ecosystem to take action now to secure a viable future for such technologies.”

The full report detailing how consumers perceive IoT can be found on this link.