Cybersecurity Major Concern for Consumers With and Without Smart Home Devices

More than 70 percent of U.S. smart device homes have security concerns, said Parks Associates Wednesday, and a quarter of those who don't own smart home devices have similar worries that prevent them from investing in the technology. As devices offer more services and interconnectivity, “cybersecurity is inadequate to protect today's connected consumer," said Kenneth Wacks. Home devices that store data, require updates, and perform multiple functions “create additional vulnerabilities,” he said. Consumers are increasingly aware personal data can be misused, said the analyst, saying building in privacy and security protection during product development costs less for device makers than fixing problems. Such breaches can do “significant damage to a brand," Wacks said. More than 40 percent of U.S. broadband households don’t trust companies to keep their data safe, and 54 percent don’t feel they get much in return for sharing data.