Consumer interest in IoT devices to grow in 2015

Wednesday 10 December 2014 00:37 CET | News

Consumer interest in connected devices will increase in 2015, a recent research reveals.

According to a report from Accenture Interactive, at the moment only 4% of consumers own a connected home Internet of Things (IoT) device, but by the end of 2015, this number is expected to reach 13%. More than two thirds (69%) of consumers say they plan to buy a connected home IoT device by 2019.

Findings indicate that acceptance and overall adoption of wearable technology will consistently trend upwards over the next few years. The total number of people who own a piece of wearable technology is expected to double from 7% to 14% by the end of 2015. Adoption will double again in 2016, reaching 28% by the end of the year.

Wearable fitness devices will also play a key role in this adoption spurt. By 2015, 22% of consumers will either have or plan to purchase a wearable fitness device. Smart watches are the second most popular wearable, with 5% of consumers looking to purchase one within 2015.

Despite the proliferation of IoT devices, the majority of consumers (87%) do not understand IoT and what it actually means. As many as 64% of consumers have not purchased a connected home IoT device because they are unaware the technology is available; 40% of respondents also said they did not know wearable technology was available.

The report surveyed more than 2,000 consumers across the US to understand current adoption of connected devices, as well as potential barriers, overall perception of the technology and future implementation.

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Keywords: IOT, consumers, wearable technology, online payments, internet of things, internet of things
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce