Consumers understand the importance of data protection and are willing to pay more for smart and connected home devices that do a better job at protecting their information, a new report by BlackBerry has found.
Based on a poll of consumers in the UK, US and Canada, the report says that the vast majority of consumers is willing to pay up to 20 per cent more for a smart home speaker, if the device is was proven a better data protector, bearing a seal or stamp of approval.
On average, consumers are willing to pay roughly 10 per cent more for such a device.
Connected cars are on a similar sentiment – people are willing to pay anywhere between five per cent ($1,700) and 20 per cent (roughly $7,000) more, to know their data is safe with their car.
Consumers are worried about security and use it as an important factor when deciding on a purchase, but once they buy a device, they're not exactly rushing to protect themselves. A quarter does not restrict the data they allow for internet-connected devices, and 17 per cent said they didn't even know how to do it.
“This survey shows there is a real opportunity for companies to differentiate their products by providing a higher level of security and data privacy,” said Mark Wilson, Chief Marketing Officer at BlackBerry. “Similar to the rise in demand for organic food and sustainable goods, we believe that educated consumers – many who have been victims of cyberattacks and uninvited use of personal data – will help drive the private and public sectors to align on a safety and security standard.”
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