Consumers would pay more for secure connected devices

News

New research from BlackBerry finds that many consumers don’t trust connected devices such as cars, drones, health monitors, TVs, security cameras and speakers.

The survey found that 80% of over 4,000 respondents in the UK, US and Canada don’t trust their current Internet-connected devices to secure their data and protect their privacy. For future purposes, respondents said they would be more likely to choose a product or do business with a company that has a strong reputation for data security and privacy.

Willingness to pay

More than half the respondents (58%) said they would be willing to pay more for Internet-connected devices if they are reassured that their data and privacy is protected. This is especially the case with safety-critical technology such as connected cars.Many said they would support a ‘seal of approval' to demonstrate which Internet-connected devices have achieved a certain standard of security.

The majority said they’d be happy to pay up to 10% more, but one in ten said they would shell out up to 20% extra.

An opportunity

“This survey shows there is a real opportunity for companies to differentiate their products by providing a higher level of security and data privacy,” said Mark Wilson, Chief Marketing Officer at BlackBerry. “Similar to the rise in demand for organic food and sustainable goods, we believe that educated consumers – many who have been victims of cyberattacks and uninvited use of personal data – will help drive the private and public sectors to align on a safety and security standard.”