New Study Predicts 69 Percent of Consumers Will Own an IoT Device by 2019
Today the GROW Conference kicks off in Whistler and the theme is very different that previous iterations.
With Living in a Connected World as a new tagline, event organizer Debbie Landa is hooking her cart to the Internet of Things and her timing couldn’t be better.
The Internet of Things (IoT) describes the digital connection of physical, identifiable devices to the Internet where the data and devices communicate in an intelligent fashion.
The Acquity Group released the findings from its 2014 State of the Internet of Things Study today and it boldly predicts that 69 Percent of Consumers Will Own an In-Home IoT Device by 2019.
By the end of 2015, a total of about 13 percent of consumers will own an in-home IoT device such as a thermostat or in-home security camera. Currently, only about 4 percent of those surveyed own such a device.
Adoption of wearable IoT technology such as smart watches and fitness devices is also expected to gradually increase, with nearly half of consumers already owning or planning to purchase a device in this category in the next five years.
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Wearable fitness devices will generate the most mass consumer adoption in the next year, with 22 percent of consumers already owning or planning to make a purchase by 2015.
Taking into account respondents who already own these products, the following connected devices are expected to be most popular over the next few years:
- Wearable fitness devices (Expected to have 22 percent adoption by 2015; Expected to have 43 percent adoption in the next five years).
- Smart thermostats (13 percent projected adoption in the next year; 43 percent in the next five years).
- Connected security systems (11 percent adoption in the next year; 35 percent in the next five years).
Smart clothing and heads-up displays are expected to see the least overall adoption, with only 3 percent projected adoption in the next year, and 14 and 16 percent in the next five years.
The 2014 State of the Internet of Things Study surveyed more than 2,000 consumers across the United States to gain insight into their preferences for and barriers against use of the Internet of Things.