In the not-so-distant future, everyday devices connected to the Internet will be an everyday phenomenon. This is according to Acquity Group’s - now part of Accenture Interactive - 2014 State of the Internet of Things (IoT) Survey of more than 2,000 consumers in the United States.
The survey gets to the heart of consumer attitudes and behaviors related to connected technology, which will have a clear and important impact on both business-to-business and business-to-consumer companies. It asks key consumer questions:
What does consumer awareness look like today? And what does the trajectory look like over time?
Where do consumers see value?
What are the barriers to adoption?
Read below and learn why consumer adoption of IoT devices and technology is inevitable.
The Industrial Internet of Things will transform companies and countries, opening up a new era of economic growth and competitiveness. Learn more
Seven percent of consumers own a wearable IoT device and 4 percent own an in-home IoT device. Nearly two-thirds of consumers plan to buy an in-home device in the next five years and wearable technology ownership will double by 2015.
Among wearable technology devices, wearable fitness applications and technology stand to see the most short-term growth, with 13 percent of consumers planning to purchase within the next year and a total of 33 percent looking to adopt in the next five years.
The biggest barrier to consumer adoption of IoT devices is lack of awareness and value perception among consumers. Eighty-seven percent of consumers surveyed had not heard of connected devices. What’s more, awareness and perceptions differ by gender and technology adoption preferences.
As the market shows massive signs of a real breakthrough—and break out—for connected devices, what should companies be thinking about today? The survey results point to the following considerations:
Show value. Capturing revenue opportunities will mean demonstrating the value of connected devices to consumers.
Entice interest. Incentives can help consumers move past security and privacy concerns.
Deliver outcomes. Consumers want specific, measurable results from the data that they are sharing.
Delight customers. Superior customer experiences are non-negotiable for the successful uptake of IoT devices.