A new Intel-funded global survey has shed light on the concerns that people have on their mind when it comes to smart homes and related technologies.

Privacy and security risks are the two concerns that majority of respondents are worried about; however, when it comes to tradeoffs, quite a few are OK with parting with some of their personal data and provide it to smart home technology companies in exchange of money. The survey also found that nearly three quarters of respondents expect coupons or discounts in lieu of the data collected by smart home gadgets.

Almost all respondents out of the 9,000 are concerned with personal data theft. This leads to another interesting finding that innovation in smart homes will lure consumers and specifically those targeting the security angle of smart homes. Nearly 90 per cent of respondents say that they are willing to live in a smart home that offers secure smart devices through a single integrated package.

Over three-quarters of the respondents believe that smart homes will be as common in 2025 as smartphones are today, but 66 per cent are also very concerned about smart home data being hacked by cybercriminals.

When it comes to securing their homes, passwords aren’t everyone’s choice with 40 per cent respondents seeing them as a frustration with smart homes, and three-quarters (75 per cent) indicating they are at least somewhat anxious about the number of passwords likely to be required to manage smart homes.

Biometrics is something respondents were keen on as an alternate means of authentication with 54 per cent opting for fingerprints, 46 per cent for voice recognition and 42 per cent for eye scans.

The findings are based on 9,000 individuals from nine countries: Australia, Brazil, Canada, France, Germany, India, Mexico, the United Kingdom and the United States.

Some of the additional yet key findings are:

  • Compared to other generations sampled, more Millennials indicated they might be comfortable taking money, discounts and coupons in exchange for sharing their behavioral data from their smart home devices (63 per cent for money, 44 percent for discounts and 29 per cent for coupons).
  • Three-quarters (75 per cent) of consumers expect to see personal benefits from living in a smart home.
  • The most commonly considered smart devices are smart lighting (73 per cent), smart kitchen appliances (62 per cent) and smart thermometers or boiler systems (60 per cent).
  • Over half of respondents expect gas and electric (57 per cent) bills and heating and cooling (55 per cent) bills to be reduced in a smart home.