TREND: Consumer Survey Finds While Awareness of 'Internet of Things' Remains Low, Device Adoption Continues to Grow, Along With Rising Privacy Concerns

Second Annual Survey Commissioned by Metova Reveals Growing Concern on Privacy Around IoT, Growing Adoption of Viewing TV via the Internet and More

News provided by

Metova

Jun 11, 2019, 12:58 ET

FRANKLIN, Tenn. and FAYETTEVILLE, Ark. , June 11, 2019 /PRNewswire/ -- Metova, a world-leading provider of mobile, connected car, connected home and IoT Solutions, today announced the results of their second annual survey revealing consumer trends and the sentiment of over 1000 consumers on IoT and connected home technologies. Notably, less than 25% of people surveyed feel like they have a good understanding of what the Internet of Things (IoT) is, however, nearly 75% of consumers already own at least one IoT device. The survey also reveals a growing amount of people view IoT as the "wave of the future," and a growing concern around privacy and connected devices. In addition, 85% 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.

For an infographic with more detail on the survey findings please visit: https://metova.com/infographic-trends-in-iot-2018-vs-2019-consumer-survey-results/

"We see notable growth and adoption of connected smart devices and increased demand for real-time monitoring of utility usage – yet surprisingly most consumers are not sure what the Internet of Things means," said Jonathan Sasse, president and CMO at Metova. "As consumers continue to incorporate Internet of Things into their everyday lives, it becomes critical that businesses, both established and new, take note and provide their customers with the facilities, transparency, and convenience they are accustomed to through the use of IoT technologies and connected devices."

Key IoT survey findings include:

Year over year, a 25% lift in the number of consumers understanding what "Internet of Things" is, but still less than 1 in 4 fully understand the term
IoT device ownership is up 10% year to year – with nearly 75% reporting to own an IoT Device
Privacy issues are a growing concern with nearly 90% expressing a level of concern and a 5% lift of people who are extremely concerned about privacy issues associated with IoT devices
Over two out of three people view IoT as the "Wave of the Future" – a 10% increase
Nearly 75% percent of people surveyed watch TV or video via the Internet an increase of 14% since 2018
The most commonly owned IoT device category (over 30%) is Smart Bluetooth Trackers such as Tile or TrackR a nearly 14% increase over 2018
Smart Thermostats (63%) and Smart Home Retrofit devices (70%) remain as the leading goods that are most interesting to people
Nearly 85% would like to be able to monitor their electricity, gas or water usage and cost in real-time using a computer or mobile device with the number of people who "already can" do this doubling
The amount of people who are able to monitor their utility usage in real-time via their smartphone as has more than doubled (119%) with the amount who are interested in this remains high at nearly 80%

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 is a leading strategic technology partner, providing a turnkey solution to research, initiate and complete a meaningful digital transformation. 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