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One in two would consider sharing smart home data for cash

by Stuart Wilson, Wednesday 6 April 2016

A worldwide survey by Intel Security has revealed that 54% of respondents would consider sharing their personal data collected from their smart home with companies in exchange for money. A whopping 70% agreed that companies should give coupons and discounts to customers in return for data about device usage, according to a survey of 9,000 global consumers in July 2015 sponsored by Intel Security. The survey also found that 77% of respondents believe smart homes will be as common in 2025 as smartphones are today, but 66% are also very concerned about smart home data being hacked by cybercriminals.

Raj Samani, VP & CTO, EMEA at Intel Security, said: “Smart homes and their associated data have the potential to improve consumers’ everyday lives. The survey shows that many individuals would be comfortable sharing that data for a price, but they are still understandably concerned about cyber threats. Security has to be foundational to the Internet of Things (IoT) and when done right, it can be an enabler of IoT.”

Survey respondents were universally worried about potential security threats from smart homes, with 92% expressing concern that their personal data could be hacked by cybercriminals. Yet in a testament to innovative security, 89% said that if they lived in a smart-home, they would likely prefer to secure all their smart devices through a single integrated security package.

Consumers were less enthusiastic about existing security methods such as passwords, with 40% foreseeing passwords as a frustration with smart homes, and 75% indicating they are at least somewhat anxious about the number of passwords likely to be required to manage smart homes. However, biometrics scored well as an alternative for accessing smart homes. When asked to select several preferred forms of biometric security, 54% opted for fingerprints, 46% for voice recognition and 42% for eye scans.

Compared to other generations sampled, more millennials indicated they might be comfortable taking money, discounts and coupons in exchange for sharing their behavioural data from their smart home devices. In total, 63% of millennials would be happy taking money, 44% discounts and 29% coupons.

Three-quarters of consumers expect to see personal benefits from living in a smart home and the most commonly considered smart devices are smart lighting (73%), smart kitchen appliances (62%) and smart thermometers or boiler systems (60%). A total of 57% of respondents expect gas and electric bills to be reduced in a smart home and 55% expect heating and cooling bills to be reduced in a smart home.

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June, 2021

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