@ThingsExpo Authors: Pat Romanski, Elizabeth White, Liz McMillan, Mehdi Daoudi, Yeshim Deniz

News Feed Item

Fortinet Reveals "Internet of Things: Connected Home" Survey Results

Data Loss Considered to Be Biggest Risk of IoT, Followed by Malware and Unauthorized Access

SUNNYVALE, CA -- (Marketwired) -- 06/23/14 -- Fortinet® (NASDAQ: FTNT) -- a global leader in high-performance network security, today released the results of a global survey that probes home owners about key issues pertaining to the Internet of Things (IoT). Independently administered throughout 11 countries, the survey titled, "Internet of Things: Connected Home," gives a global perspective about the Internet of Things, what security and privacy issues are in play, and what home owners are willing to do to enable it.

"The battle for the Internet of Things has just begun. According to industry research firm IDC, the IoT market is expected to hit $7.1 trillion by 2020," said John Maddison, vice president of marketing at Fortinet. "The ultimate winners of the IoT connected home will come down to those vendors who can provide a balance of security and privacy vis-à-vis price and functionality."

Completed in June 2014, the survey asked 1,650 tech-savvy homeowners questions relating to the Internet of Things as it pertains to the connected home. These were the top findings:

The Connected Home is a reality - A majority (61 percent) of all respondents believe that the connected home (a home in which household appliances and home electronics are seamlessly connected to the Internet) is "extremely likely" to become a reality in the next five years. China led the world in this category with more than 84 percent affirming support.

  • In the U.S., 61 percent said that the connected home is extremely likely to happen in the next five years.

Homeowners are concerned about data breaches - A majority of all respondents voiced their concern that a connected appliance could result in a data breach or exposure of sensitive, personal information. Globally, 69 percent said that they were either "extremely concerned" or "somewhat concerned" about this issue.

  • Sixty-eight percent of U.S. respondents said that they were "extremely concerned" or "somewhat concerned."

Privacy and trust are concerns - When asked about the privacy of collected data, a majority of global respondents stated, "privacy is important to me, and I do not trust how this type of data may be used." India led the world with this response at 63 percent.

  • Fifty-seven percent in the U.S. agreed with this statement.

Data privacy is an extremely sensitive issue - Relating to privacy, respondents were also asked how they would feel if a connected home device was secretly or anonymously collecting information about them and sharing it with others. Most (62 percent) answered "completely violated and extremely angry to the point where I would take action." The strongest responses came from South Africa, Malaysia and the United States.

  • Sixty-seven percent of Americans also agreed with this statement.

Users demand control over who can access collected data - When asked who should have access to the data collected by a connected home appliance, 66 percent stated that only themselves or those to whom they give permission should have this information.

  • Seventy percent of those in the U.S. wanted personal control over collected data. Around one-quarter of Americans felt that either the device manufacturer or their ISP should have access to the collected data.

Consumers look to their government for data regulation - Many respondents (42 percent) around the world stated that their government should regulate collected data, while 11 percent said that regulation should be enforced by an independent, non-government organization.

  • The U.S. scored lower than most countries. Here, only 34 percent agreed that the government should regulate collected data.

Device manufacturers are mostly on the hook for security - If a vulnerability was discovered in a connected home device, 48 percent of all surveyed agreed that the device manufacturer is responsible for updating/patching their device. However, nearly 31 percent responded with "as a homeowner, it is my responsibility to make sure that the device is up to date."

  • Americans responded similarly with 49 percent putting the responsibility on the device manufacturer.

The next looming battle: secure home routers versus clean pipes - A clear schism appears worldwide when homeowners were asked about how connected home devices should be secured. In nearly equal proportion were those who replied, "a home router should provide protection," versus those who said, "my Internet provider should provide protection."

  • The U.S. was no different from the rest of the world, having nearly a 50-50 split.

Homeowners are willing to pay for a connected home - When asked, "would you be willing to pay for a new wireless router optimized for connected home devices," 40 percent responded with "definitely" and another 48 percent said "maybe." In a follow-on question, more than 50 percent said they would pay more for their Internet service in order to "enable connected devices to function" in their home.

  • Similar to the rest of the world, U.S. homeowners would pay more; less than 25 percent said that they would not.

Price is the primary factor - Although homeowners report a willingness to pay more to enable their connected home, when asked what factors impact their buying decisions of connected home devices, the number one answer that was consistent in all countries was price, followed by features/functionality and then manufacturer brand.

"The Internet of Things promises many benefits to end-users, but also presents grave security and data privacy challenges," concludes Maddison. "Crossing these hurdles will require clever application of various security technologies, including remote connection authentication, virtual private networks between end-users and their connected homes, malware and botnet protection, and application security -- applied on premises, in the cloud and as an integrated solution by device manufacturers."

Survey Methodology
Research for the Internet of Things: Connected Home survey was conducted by GMI, a division of Lightspeed Research, a leading provider of technology enabled solutions and online responses for global market research. Each respondent claimed to be a homeowner between the ages of 20-50, and was determined to have substantial technology experience. The survey was administered in the following countries: Australia, China, France, Germany, India, Italy, Malaysia, South Africa, Thailand, United Kingdom, and United States.

About Fortinet
Fortinet (NASDAQ: FTNT) helps protect networks, users and data from continually evolving threats. As a global leader in high-performance network security, we enable businesses and governments to consolidate and integrate stand-alone technologies without suffering performance penalties. Unlike costly, inflexible and low-performance alternatives, Fortinet solutions empower customers to embrace new technologies and business opportunities while protecting essential systems and content. Learn more at www.fortinet.com.

Copyright © 2014 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and unregistered trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiManager, FortiMail, FortiClient, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiAP, FortiDB, FortiVoice and FortiWeb. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties, and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, binding specification or other binding commitment by Fortinet, and performance and other specification information herein may be unique to certain environments. This news release contains forward-looking statements that involve uncertainties and assumptions. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update these forward-looking statements.


Media Contact
Rick Popko
Fortinet, Inc.
[email protected]

Investor Relations Contact
Michelle Spolver
Fortinet, Inc.
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...