Accenture Digital’s just-released 2014 State of the Internet of Things Study surveyed more than 2,000 consumers to gain insight into why people are (or aren’t) adopting the Internet of Things (IOT). IOT are physical, identifiable devices that are digitally connected to—and communicate data via--the Internet, and range from wearable fitness devices to thermostats.
The survey results suggest strategies to help with the adoption and monetization of IOT in the United States. For example, 80 percent of respondents expressed concern about data privacy with wearable IOT. While that may sound like bad news for purveyors of wearable connected technologies, the study also found that half of those same consumers said they would be willing to share personal data collected by such devices if they received compensation from third-party retailers, such as a coupon or discount.
“Our data reveals a gap in consumers’ fears of data privacy and their actual purchasing behavior,” said Jay Dettling, President of Accenture Digital’s Acquity Group, which conducts the annual study. “To capitalize on these opportunities, companies should focus on specific benefits that sharing data will deliver to consumers.”
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