What's Stopping Consumers from Buying Internet of Things Devices? - eMarketer

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What's Stopping Consumers from Buying Internet of Things Devices?

Some consumers already own connected devices

January 25, 2016

The internet of things (IoT) has a wide-ranging impact across many categories, from healthcare to travel. And consumers are even embracing smart home devices. However, when it comes to purchasing an IoT device, cost is a top barrier.

According to a November survey from Accenture, nearly two-thirds of internet users worldwide said that one of the barriers to purchasing IoT devices and services were the fact that they are too expensive.

In addition, almost half of respondents said they were concerned about privacy and security, and these issues were another hindrance to purchasing an IoT device. The uncertainty about which device would be of use to them, as well as the confusion around these IoT devices more generally, were other barriers to purchase.

While price may be a hurdle for many consumers, others already own IoT devices. August 2015 research from ISACA, found that 43% of US internet users own a smart TV. Additionally, 26% of respondents said they own cameras that connect to the internet, and a quarter of respondents said they own a connected car.

Wireless fitness trackers, internet-connected audio and stereo speakers and smart weight scales were among the other devices internet users said they owned. Some 24% said they didn’t own any IoT devices.

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