Could consumer distrust kill IoT? Why calls for security, privacy and transparency should not be ignored

The biggest challenge most IoT manufacturers are facing today, from connected cars to smart home solutions, is not the technology itself but the IoT distrust amongst consumers.

With Gartner predicting the IoT market to top $1.9tr in economic benefits by 2020, businesses have been urged to listen to consumers' calls for more security, privacy and overall transparency.

A global survey by mobile trade body Mobile Ecosystem Forum (MEF) in association with AVG has found that as many as 60% of consumers worldwide are worried about connected devices. A further one in ten (11%) sees no benefit in IoT devices at all.

In the UK, IoT is seen as a source of concern to one in every two consumers (50%). Despite being the lowest percentage when compared to other countries, it is fair to say it is still a high ratio.

The global study, "The Impact of Trust on IoT", found that privacy (62%) and security (54%) were the top IoT trust concerns, named twice as often as concerns such as physical safety (27%) or not being able to fix a device if it breaks down (24%).

In the UK, online security (67%) was found to be consumers' main concern, followed by privacy (66%) and physical security (26%).

Machines taking over the Earth was found to be Brits fourth biggest worry (23%). This is more than the global average (21%) who believe this is a potential risk with the IoT.

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