How to secure the trust of US smart device consumers
The appetite for smart homes in the US is growing exponentially. Nearly 70% of US households own a smart device, and there is a lot more room for growth with the market expected to rise by 17% this year[1].
In a buoyant market where innovation is fast, and competition is fierce, certain standards can slip – and when they do it rapidly makes headline news. Though US consumers are happy to invite smart devices into their homes, they don't necessarily trust them – 53% of global consumers, including in the US, doubt that their devices will safeguard their privacy and personal information properly[2].
The value of independent certification
To secure the trust of US consumers, manufacturers need to give them reason to be confident in the quality, safety and performance of your product. With independent certification from a trusted third party, consumers are more likely to feel that their smart homes are keeping them safe and secure.
The BSI Kitemark™ promotes trust and confidence in the quality, safety and security of smart devices used by consumers and businesses. In popular tech markets such as IoT, the value of BSI Kitemark lies in enhancing customer satisfaction, ensuring risk reduction, and enabling market access and development for global companies.
- $11.1 trillion of worldwide economic value expected by 2025 from the Internet of Things[3]
It's no coincidence that high-growth regions for smart devices such as the US are largely unregulated. Without clear standards and guidelines for how their data should be processed and safeguarded, consumers are growing anxious about the cybersecurity issues they face when owning smart devices.
- 83% are more likely to choose a home connected device with an independent certification mark[4]
Growing market and growing concerns
70% of US respondents in a global survey have expressed concern about how their personal data is collected and used[2]. But despite this, the US market for IoT devices is expected to exceed $11 trillion by 2025[3]. In other words, consumer demand for smart devices is high, but so are concerns about vulnerabilities and quality control.
Facing data privacy and security legislation resiliently
In an effort to ease these concerns, federal legislation is working its way through Congress. The American Data Privacy and Protection Act, if passed, would follow five states who have already moved to tighten privacy laws (California, Connecticut, Colorado, Utah and Virginia). Businesses who want to secure trust in smart technology must watch the Act's developments closely while future proofing themselves by presuming it will succeed.
The opportunity to differentiate
Research shows that strengthening trust in smart devices offers important differentiation. 83% of consumers would be more likely to choose a smart device for the home with an independently verified mark[4]. The commercial advantage is even clearer when you consider the following:
- 67% would pay a 5% premium for a home connected device with an independently verified mark[4]
- Almost half (49%) would be willing to pay 15% extra for independently verified devices[4]
- One in five consumers are "much more likely" to buy a BSI Kitemark-branded product than one without[4]
Setting the standard for smart devices
Winning the hearts and homes of consumers requires a clear, recognizable promise that their smart devices have been tested and certified by a trusted, independent organization. The BSI Kitemark supports businesses that want to embrace resilience, meet and exceed industry standards and stand out from your competition.
With more than 100 years of expertise in developing the safety, performance, and quality of products and with innovation at our core, BSI is committed to enhancing market access and development for organizations like yours. As you strive to keep homes safe and secure, the Kitemark helps your customers to recognize that your smart device is the best of the best.
