Some 30% of consumers in the United States already own or plan to purchase an in-home network-connected appliance—such as a smart thermostat or refrigerator—in the next two years, according to a recent report from Acquity Group.
Moreover, 69% of US consumers surveyed say they expect to own an in-home "Internet of Things" (IoT) appliance in the next five years.
A significant number of consumers also expect to purchase wearable IoT devices—such as smartwatches and heads-up displays—in the coming years. Some 7% of say they already own this type of device, and twice as many (14%) expect to do so by 2015. Exactly half of the consumers surveyed say they may purchase a device in this category in the next five years.
Among IoT wearable technology, fitness applications (such as wristbands) are expected to be adopted at the fastest rate, with 13% of consumers saying they plan to purchase one within the next year. Nearly a quarter (22%) of respondents plan to use wearable fitness devices by 2015, and 43% think they will do so in the next five years.
Smartwatches are the second most popular type of wearable device, with 5% of consumers planning to purchase one in the next year and 8% by 2015. Some 25% of respondents expect to own a smartwatch in the next five years.
Smart clothing and heads-up displays are the least likely to catch on in the short term, with only 3% of consumers expecting to purchase either in the next year. And 14% of respondents expect to own smart clothing, and 16% expect to own a wearable headset device, in the next five years.
Below, additional key findings from the report, which was based on data from a survey of 2,000 consumers in the United States.
Barriers to Adoption
- 87% of respondents had not heard of the term "The Internet of Things" prior to the study.
- Men are more than twice as likely as women to have heard of "The Internet of Things."
- 64% of the consumers surveyed say they are not aware that items such as smart fridges and smoke detectors are available for purchase; 40% do not know that wearable technology such as smartwatches are already available.
- 36% of respondents say they see little value in having a network-connected appliance and 30% say the same about wearable technology.
Privacy and Security Concerns
- 57% of consumers say they are less likely to purchase wearable devices because of concerns about hacks and data breaches.
- However, 40% of consumers are willing to share data from their wearable devices with retailers or brands in exchange for coupons, discounts, or information; only 9% would do so without incentives.
- 60% of consumers would share data from their network-connected car with the manufacturer if they were offered a free maintenance session.
About the research: The report was based on data from a survey of 2,000 consumers in the United States.
Know someone who would enjoy it too? Share with your friends, free of charge, no sign up required! Simply share this link, and they will get instant access…
You may like these other MarketingProfs articles related to Customer Behavior:
- Discovering the Brain Science That Drives B2B Buyer Behavior: Nancy Harhut on Marketing Smarts [Podcast]
- World-Class Case Studies; Building Trust on the Internet | Marketing Smarts Live Show
- How Attitudes Toward AI Vary Among Countries and Demographics
- Closing the Loop: How to Deliver Personalized CX at Scale, Even Across Channels
- B2B Marketers, the Customer Journey, and Sales | Marketing Smarts Live Show
- How B2B Marketers Can Leverage Voice of Customer for Business Growth | Marketing Smarts Live Show