In a recent study conducted by research consultancy Market Strategies International (Livonia, Mich., U.S.A.), consumers rated energy smart metering and health monitoring as the two most appealing M2M solutions in the marketplace,
“With 60% of consumers viewing these two M2M technologies as ’somewhat’ or ‘very’ appealing, smart metering, also known as home energy management, and health monitoring seem to have struck the most positive chord with prospective users,” says Keri Christensen, vice president of the communications division at Market Strategies.
According to the study, American consumers ranked the primary M2M concepts by their appeal as follows:
- Home energy management (tied): 60%
- Health Monitoring (tied): 60%
- Property security: 55%
- People/pet security: 49%
- Mobile banking/shopping: 46%
According to the research firm, results indicate providers of M2M solutions now have a significant opportunity to increase awareness and adoption rates of these concepts. Aggressive consumer education initiatives emphasizing tangible cost savings, convenience and secure technology will be critical to successful M2M commercialization, says Christensen.
“Two-fifths of consumers think the benefits of M2M technology exceed potential problems, but they still have a lot of questions about how applications actually work and very high levels of concern about data security and reliability,” says Christensen.
According to the report, Americans have the least amount of interest in mobile banking and shopping, despite the buzz. This is an important consideration for C-level executives as they decide where to invest their resources, according to the research firm.
Other key findings in the study include:
- The most appealing healthcare monitoring applications enable consumers to get test results and medical records sent directly to their mobile devices.
- Consumers express the strongest interest in smart metering/home energy solutions that will save them money by automatically adjusting appliance settings or delaying cycle times when energy costs are higher.