Mobile phone app makers have the lowest levels of trust amongst consumers compared to other entities, according to recent research.
The 2013/14 Risk Reward Barometer by the Information Systems Audit and Control Association (ISACA) surveyed 1,000 employed consumers in the UK, in order to examine the perceived risks and rewards of key trends and business insights on the Internet of Things, Big Data and BYOD.
When questioned about which institutions they trust most with their data, those surveyed rated app developers lower than their mobile phone services provider, their utility company, their employer, their doctor and the government.
The results show that across all markets the vast majority of consumers worry that their information will be stolen, with 86 per cent of those surveyed in the UK concerned by data theft.
Despite these worries, half of UK consumers admit to using the same two to three passwords across multiple accounts and websites, while almost a quarter write their passwords down in order to remember them.
When it came to the benefits of using connected devices, saving time was seen as the biggest benefit by consumers, while the main concern was hackers.
The survey also found that the Internet of Things - the interconnectivity of physical objects through the Internet, or internal networks – is believed by the vast majority of IT professionals to raise governance issues.
"Among IT professionals across the globe who are members of ISACA, almost all (99%) believe that the Internet of Things poses some type of governance issue," the survey reported.
"Yet more than half (51%) already have plans to capitalize on the Internet of Things, and 31% say their enterprises have already benefited from greater access to information via Internet of Things devices."