Smart Home Product Owners Concerned with Personal Data Security

Parks Associates’ new research, developed in partnership with Iris, highlights the risks posed by internet-connected devices, consumers’ perceptions of these risks, and the role smart home platforms can play in mitigating threats. The research firm reports that 72% of smart home product owners are concerned with the security of the personal data collected by their devices. Among all US internet households, nearly one-half report experiencing at least one privacy or security issue in the past year.

“Consumers’ homes are becoming more complex and, in turn, more vulnerable to privacy and security breaches,“ said Kristen Hanich, Research Director at Parks Associates. “Many consumers do not know how to properly manage and secure these devices, leaving them at risk for identity theft, fraud, and invasive data collection.“

This research highlights the role of consumer trust as a key differentiator for players in the connected home space. The white paper provides insight into the steps consumers can take to protect themselves, including reviewing privacy policies and settings, registering with manufacturers to update software and disable remote access, segregating devices onto a separate Wi-Fi network, enabling two-factor authentication and password managers, and enrolling in identity theft and personal cyber protection services.

“With the number of internet-connected devices in the average home steadily increasing, every new device is a potential new avenue for cyber threats,“ said Paige Schaffer, CEO of Iris. “This is why this research we developed in partnership with Parks Associates will be an invaluable educational resource for consumers and smart home technology providers alike.“

As trust becomes a key differentiator for players in the connected home space, companies can provide customers with easy-to-use tools to identify risks and protect their identities and data. In fact, 59% of US internet households, when presented with guarantees such as the right to approve data collection or who can access it, rated at least one of these solutions as highly effective in relieving their privacy and security concerns.