Connected Home Market and Implications of Cyber Risks

Connected Home Market and Implications of Cyber Risks

Understanding Threats and Opportunities within Smart Technology Ecosystems of North American Homes

RELEASE DATE
10-Aug-2016
REGION
North America
Research Code: K05A-01-00-00-00
SKU: EN00929-NA-CR_18920
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$6,000.00
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Description

The ecosystem of the connected homes market has expanded quite rapidly over the last five years, encompassing a host of technology vendors and service providers from home automation to information and communications technology (ICT), integrated service providers, utilities, and more. This study, based on a survey of 1,263 respondents in the United States and Canada, reveals that the adoption of smart home technologies is significant, growing, and challenging. It identifies key differences in the attitudes and behaviors of connected home solution adopters, potential adopters, and non-adopters. The study provides an understanding of the types of smart technologies, devices, and cybersecurity measures that are being used in North American homes.

Table of Contents

Background and Objectives

Methodology

Summary of 5 Key Findings

Key Finding 1—The Connected Home Landscape is Significant, Growing, and Challenging

Connected Homes—A Fast Growing Landscape

Strategic Implications

Key Finding 2—Connected Homes Experience More Cybersecurity-related Incidents

Adopters are 2x More Likely than Potential Adopters and 3x More Likely than Non-adopters to have Experienced Cybersecurity-related Problems

Strategic Implications

Key Finding 3—Connected Homes Use a Broader Mix of Connected Devices

Adopters are Confident in the Security of a Broader Set of Devices when Controlling Smart Home Solutions

Strategic Implications

Key Finding 4—Connected Homes Use More Cybersecurity Measures, but Gaps Remain

Majority of Devices More Commonly Used by Adopters for Remote Tracking and Wiping are Password-protected

1 out of 4 adopters have lost personal information and are more likely to ask how their data is being protected

Strategic Implications

Key Finding 5—Connected Homes Expect More Security from Providers but also have Greater Confidence in them

Home Security Service Providers and Smart Home Solution Specialists are the More Trusted Providers of Cybersecurity

For Cybersecurity-enabled Devices, Adopters Turn to Home Security Service Providers, ISPs, and Device Vendors

Home Security Service Providers and Smart Home Solution Specialists are the Top-rated Providers of Cybersecurity

When a Vendor’s Security Support is Deficient, it Creates a Sense of Vulnerability among Adopters

Strategic Implications

The Adoption of Smart Home Solutions

Current Smart Technology/Capability Adoption

Future Smart Technology/Capability Adoption Intent

Profile of Systems and Devices Used

Profile of Cloud Services Used

Important Expectations

Important Expectations—By Adoption Category

Perceived Overall Security/Vulnerability—Adopters by Country

Perceived Security/Vulnerability by Technology Type—Overall

Perceived Security/Vulnerability by Technology Type—By Country

Perceived Security/Vulnerability by Technology Type—By Adoption Category

Perceived Smartness of Technologies Adopted

Most Motivating Benefits of Smart Home Solutions—By Country

Least Motivating Benefits of Smart Home Solutions—By Country

More Important Concerns About Smart Home Solutions—By Country

Less Important Concerns About Smart Home Solutions—By Country

More Motivating Benefits of Smart Home Solutions—By Adoption Category

Less Motivating Benefits of Smart Home Solutions—By Adoption Category

More Important Concerns About Smart Home Solutions—By Adoption Category

Less Important Concerns About Smart Home Solutions—By Adoption Category

Preferred Installation Approach—By Country

Likely Provider of Cybersecurity for Installed Smart Solutions—By Country

Likely Provider of Cybersecurity Enabled Devices—By Country

Security of Suppliers’ Smart Home Technologies—By Country

Security of Suppliers’ Smart Home Technologies—By Country (continued)

The Role of Companies/Vendors/Service Providers—By Country

Consumers’ Technology Savviness and Cybersecurity Competence

Consumers’ Technology Savviness and Cybersecurity Competence (continued)

Negative Experience Related to Security—By Country

Negative Experience Related to Security—By Adoption Categories

Home System Breach—Adopters

Home System Breach Response Time—Adopters

Most Vulnerable System—Adopters

Current Cybersecurity Measures—By Country

Identity Theft and Personal Information

Insurance Protection—By Country

Insurance Protection—By Adoption Category

Device Security—By Country

Device Security—By Country (continued)

Mobile/ Wearable Device Vulnerability

Devices Accessed/Monitored by Third Parties

Third-Party Security—Overall

Third-Party Security Provisions—By Country

Third-Party Security Provisions—By Adoption Category

Third-Party Security Provisions—By Country

Third-Party Security Provisions—By Adoption Category

Legal Disclaimer

Profile of Respondents—Overall

Age Profile of Respondents within Adoption Categories

Age and Dwelling Profile of Adopters

Age Profile of Respondents within Dwelling Types

Profile of US Respondents

Profile of US Respondents (continued)

Profile of US Respondents (continued)

Profile of Canada Respondents

Profile of Canada Respondents (continued)

Profile of Canada Respondents (continued)

The Frost & Sullivan Story

Value Proposition: Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

The ecosystem of the connected homes market has expanded quite rapidly over the last five years, encompassing a host of technology vendors and service providers from home automation to information and communications technology (ICT), integrated service providers, utilities, and more. This study, based on a survey of 1,263 respondents in the United States and Canada, reveals that the adoption of smart home technologies is significant, growing, and challenging. It identifies key differences in the attitudes and behaviors of connected home solution adopters, potential adopters, and non-adopters. The study provides an understanding of the types of smart technologies, devices, and cybersecurity measures that are being used in North American homes.
More Information
No Index No
Podcast No
Author Konkana Khaund
Industries Environment
WIP Number K05A-01-00-00-00
Keyword 1 Connected Home
Keyword 2 Connected Home
Keyword 3 Implications of Cyber Risks
Is Prebook No