Explosive IoT Growth Slowed by Early Adopter Paradox

Adoption of the Internet of Things (IoT) continues to explode but it could be even more transformative, a new F-Secure survey finds. The consumers most eager to purchase new connected devices tend to delay or avoid new IoT purchases due to privacy or security concerns. This “Early Adopter Paradox” is creating an opportunity for operators who are already uniquely positioned to secure connected homes.

F-Secure has conducted nearly 20,000 consumer interviews in the United States and Europe over the last 5 years. The research finds:

• Early adopters love the IoT: Nine out of 10 say that they’re excited about the technology.
• Privacy concerns hold back new investments in smart home devices: 74% of early adopters say they’re looking to purchase connected home devices, but two-thirds have delayed an IoT purchase because of privacy concerns.
• Early adopters connect more: 38% of U.S. internet users spend more than 4 hours online a day; this rises to 45% for early adopters
• Cyber security savvy rises: 62% of U.S. consumers know what ransomware is compared to 37% in 2015
• Users shift to mobile: the share of Americans using desktop PCs has fallen 6% since 2015 as the percent that uses Android smartphones has increased 10% and iPhone use is up 9%
• Homes are getting “smarter:” Nearly one in four U.S. homes, 22%, use a digital assistant such as Amazon Alexa or Google Home, a category that didn’t exist in 2015; this is almost double the 12% of Europeans who use such devices