Only 20% of Consumers Understand the Term 'Internet of Things' Yet Nearly 70% Own an IoT Device

Survey Commissioned by Metova Reveals Consumer Confusion Around IoT, High Demand for Real-time Utility Monitoring Capabilities and More

News provided by

Metova

Aug 28, 2018, 12:24 ET

FRANKLIN, Tenn. and FAYETTEVILLE, Ark., Aug. 28, 2018 /PRNewswire/ -- Metova, a world-leading provider of mobile, connected car, connected home and IoT Solutions, today announced the results of a survey revealing the sentiment of over 1000 consumers on IoT and connected home technologies. Notably, less than 20% of people surveyed feel like they have a good understanding of what the Internet of Things is, however, nearly 70% of consumers already own at least one IoT device. In addition, 84% of people would like the ability to monitor their utility usage in real-time with connected devices, and would choose a utility provider over a competitor based on that ability if given a choice.

"Connected devices and real-time monitoring of water, gas and electrical usage have shifted from a novelty to necessity," said Jonathan Sasse, CMO at Metova. "Whether they know it or not, consumers have made the leap to the Internet of Things in and outside of their homes, yet businesses are often unsure of how to approach digital transformation in order to leverage this new realm."

Key IoT survey findings include:

Less than 20% of people surveyed feel like they have a good understanding of what the Internet of Things is, however, nearly 70% of consumers already own at least one IoT device
84% of people would like to monitor their utility usage in real-time with connected devices and the same amount would choose a utility provider based on that ability if given a choice
Smart Thermostats and Smart Home Retrofit devices are the leading goods that are most interesting to people while Smart Bike Locks are the least interesting
Nearly half of consumers are moderately to extremely concerned about privacy issues associated with IoT devices

For an infographic with more detail on the survey findings please visit:
http://metova.com/infographic-the-internet-of-things/

Metova Inc provides a full range of services from strategy to implementation designed to enable businesses to lead their market and increase customer loyalty by leveraging emerging mobile, web, connected home, connected car and other technologies.

As a key development and strategic partner for leading 'connected' companies including Yale Locks and TruGreen, Metova not only continuously builds on their technical expertise, but also strives to understand consumer outlook and trends. This pipeline of information combined with world-leading development and technology skills enables Metova to provide unparalleled strategic advising combined with end-to-end execution.

To read a Q&A with Andrew Cowart, CTO at Metova, regarding the Internet of Things, please visit: http://metova.com/qa-internet-of-things/

ABOUT METOVA
Founded in 2006, Metova set out to build beautiful mobile applications while creating a great place for people to work. Today, Metova continues those traditions, while focusing on creating solutions for mobile self-service industries as well as complete solutions for the connected home and vehicle and the Internet of things. Metova's work environment promotes a unique culture of teamwork, creativity and personal development that has attracted leading engineering, strategy and design talent. To learn more, please visit metova.com or metova.com/jobs

SOURCE Metova