Tuesday, December 18, 2018

77% of consumers are very concerned about someone hacking their online service

New research notes concerns of data and privacy vulnerabilities do not yet inhibit device purchasing and usage 

New research from Parks Associates finds consumers have high concerns overall regarding the security of their personal data and device security, including 77% of U.S. broadband households who are very concerned about someone hacking their online service. Additionally, 75% worry about their computer being hacked, and 66% are concerned about their smart TV or streaming media player being compromised. Consumer Fears in Connected Entertainment also notes that these concerns are not having much of an impact on device purchasing, as levels of concern are virtually identical between those planning to purchase a CE device and those not intending to purchase.

“Consumer concerns about sharing data have virtually no impact on device ownership and purchase decisions,” said Craig Leslie, Senior Analyst, Parks Associates. “On average, consumers concerned with personal information security actually own more connected devices, almost nine on average, than consumers without concerns, who have an average of eight. However, continued high-profile data breaches or privacy violations could reverse this trend, so device and content companies need to work now to develop or strengthen trust with their consumers.”

Top Concerns about Personal Information Security | Parks Associates

Consumer Fears in Connected Entertainment notes that consumers are far more likely to share their data if they are confident in its security, which naturally biases them toward more traditional and more established vendor types. This research examines data protection and monetization technologies, as well as the best strategies to win consumers’ trust in the connected entertainment era.

“Consumers are moving forward with purchases despite their concerns, which may indicate a lack of choice or resignation more than consumer preference,” Leslie said. “Companies in this space can differentiate their solutions by offering more user control options, clearer explanation of data usage, and promotion of security features ignored by other vendors. Giving consumers control over their data will build trust among users who increasingly feel powerless.” 

More information about Parks Associates’ research is available at www.parksassociates.com. To schedule an interview with an analyst or to request specific data, contact Julia Homier at julia.homier@parksassociates.com, 972-996-0214.

About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, Connected Health Summit: Engaging Consumers, and Future of Video: OTT, Pay TV, and Digital Media.

http://www.parksassociates.com

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