The Internet of Things, where everyday devices like refrigerators, light bulbs, and thermostats (smart objects) can send and receive data over the Internet, hasn’t caught on with most people.
According to a new case study by Nielsen subsidiary Affinnova, consumers were asked to evaluate four million product variations, rating them on what features and functions they wanted in the smart objects.
While over 50 percent of consumers surveyed agree smart objects will be revolutionary, 92 percent of consumers can’t explain what features they want and expect from smart objects.
The majority of consumers think smart objects will be common twenty years from now, but many aren’t aware what smart objects are available today, nor what the benefits and disadvantages are for the web-enabled technologies.
And they’re concerned about their privacy and how data will be kept secure.
The infographic points out some interesting points and products; I was surprised to learn twice as many men felt they were early adopters compared to women.
And I’m with the majority of people not wanting a connected toothbrush to send data to my dentist.
It’s clear companies need to address consumer concerns as they move forward in producing Internet-connected products.
Check out the key takeaways from the infographic.
Key Takeaways
The smart functions in highest demand by consumers:
- Remote access: 53 percent
- Ability for products to get smarter and make better predictions over time: 42 percent
- Push notifications for various events: 37 percent
- Data aggregation and analysis: 37 percent
- Personalized recommendations: 26 percent
- Saving money is a major priority too. Sixty-five percent said this is the one thing they want from the Internet of Things. Women were significantly more interested in the feature than men.
Major Challenges
- Fears about privacy and security. Fifty-three percent expressed concern about data sharing, while 51 percent are worried about hacking. But consumers still ranked cost concerns higher.
- The need to provide real value. Forty-one percent feel that the smart products out there now are too gimicky. Thirty-six percent said a lack of perceived value for in-home devices has prevented adoption (for wearable devices, 30 percent said this).
- A need to reach more consumers Eighty-seven percent were unfamiliar with the term “Internet of Things” while 64 percent were unaware of smart products already on the market. Men are twice as likely as women to consider themselves early adopters.
- Price paranoia. Fifty percent believe a smart product would be much more expensive; 23 percent rated price a top concern.
- Consumers fear a loss of control. Only 21 percent want a smart device to automatically take an action.
Most Wanted Smart Items
- Refrigerator (59 percent said they’d be willing to pay more for this)
- Light bulb
- Sprinkler
- Scale
- Thermostat
- Security System
- Fitness device (33 percent said they will adopt this technology within the next 5 years)
Least Wanted Smart Items
- Razor: sends an alert when blade is dull
- Diaper: sends an alert when it’s time for a change
- Toothbrush: tracks brushing habits and sends data to a selected dentist
- Wine bottle: monitors quality and indicates if it’s no longer drinkable
