IoT Data: Securing the Connected Home


LONDON, June 22, 2017 — The growing number of connected devices in consumers’ lives can be immensely valuable, both in creating personalized user experiences and in generating data that can be analyzed to provide expanded benefits. They also provide more targets for hackers. This report examines the current challenges for securing the connected home and the opportunities for security solution providers. The report includes the latest consumer data on security concerns, willingness to share data, and analysis of their effects on consumer confidence and purchasing behavior. With an eye to recommendations for OEMs and service providers, the report provides an assessment of market forces influencing security issues, such as business economics, industry alliances, consumer advocates, and regulators. The report includes a U.S. forecast for standalone security gateway solutions and a forecast for residential combination gateway/routers, which are a crucial point of defense against security vulnerabilities.

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1.0 Report Summary

Purpose of Report
The growing number of connected devices in consumers’ lives can be immensely valuable, both in creating personalized experiences and in generating data that can be analyzed to provide expanded benefits. They also provide more targets for hackers. This report examines the current challenges for securing the connected home and the opportunities for security solution providers. The report includes the latest consumer data on security concerns, willingness to share data, and analysis of security concerns on consumer confidence and purchasing behavior. With an eye to recommendations for manufacturers and service providers, the report provides an assessment of market forces influencing security issues, such as business economics, industry alliances, consumer advocates, and regulators. The report includes a U.S. forecast for standalone security gateway solutions.

Scope of Report
This report addresses the following questions:
– What are the biggest challenges to securing the home network?
– What opportunities exist for IoT ecosystem players to offer data security and privacy solutions?
– How did consumers feel about data security/privacy issues and data sharing?
– What kind of security/privacy actions will mitigate concerns and what incentives will foster data
sharing?
– What are the implications of security issues and trends, and what recommendations will help IoT
ecosystem players respond successfully?

Research Approach/Sources
IoT Data: Securing the Connected Home draws information and data from multiple sources:
– Interviews with and research on companies, including smart home device manufacturers, smart
home system integrators, smart home system providers
– Company financial reports and related secondary research
– Parks Associates consumer surveys and forecasts.
– Parks Associates reports:
o 360 View: Residential Security and Smart Home, Q1 2017
o Smart Home: A Roadmap for Strategic Planning, Q4 2016
o 360 View Update: Connected Home Devices Deep Dive, Q3 2016
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