The vision of internet of things (IoT) has become a reality and in recent years, it has seen rapid growth. However, there is a lot more to come from this technological Tsunami. In simple terms, Internet of Things is a network of interconnected objects or things with sensors, collecting data and making actionable decisions. With the arrival and adaptation of this technology, many questions regarding cyber security are raised.
This master thesis examines the consumer perspective on key elements of the internet of things. The elements in focus are consumer awareness, the perception of privacy and perception of value. The relationship of these elements with Gender and Nationality is investigated. The study is based on the survey of respondents belonging to Austria and India. After interviewing two experts from the field of the internet of things and reviewing the literature, the vulnerabilities surrounding IoT were confirmed.
Lack of consumer awareness is considered a hindrance in the adaptation of IoT, whereas the trust between technology and consumers has decreased over time. It is claimed that consumers do not value security enough to pay extra for it. However, the findings from this study suggest a shift in the understanding and attitude of the consumer base. The author finds while certain trends from previous researchers remain unchanged. There has been an increased awareness among consumers overall.
Gender influences the awareness; value perception of consumers is also influenced by Gender and Nationality. The perception of privacy is negative and the trust of consumers remains low. Most people would like to see more work done by the industry and the government to increase consumer education regarding cybersecurity and Internet of Things.
Table of Contents
1) Introduction
1.1) Research Motivation and Purpose
1.2) Previous research done on Internet of Things
1.3) Research Gap (How is this study different?)
1.4) Choice of Countries
1.5) Gender
1.6) Expected Outcome
2) What is Internet of Things?
2.1) Economic Impact
2.2) Internet of Things Segments
2.3) Growth
2.4) Security and Internet of Things
2.5) Consumer awareness of IoT Vulnerabilities
2.6) Perception towards Privacy
2.7) Value Perception of Internet of Things
3) Research Methodology and Research Method
3.1) The Research Process
3.2) Selected Research Methods and Methodology
3.3) Theoretical Framework
3.4) Research Questions and Variables
4) Interview and Survey
4.1) Findings from the Interview
4.2) Survey Questions
5) Results
5.1) Analysis
6) Discussion
6.1) Conclusion
7) Limitations and Implication for Future Research
7.1) Limitations
7.2) Implication for Future Research
Objectives & Themes
This thesis investigates the consumer perspective regarding key elements of the Internet of Things (IoT), specifically consumer awareness, perception of privacy, and perception of value. By conducting a comparative study between Austria and India, the research aims to identify potential gaps in knowledge and understanding between the industry and the average consumer, while also exploring how demographic factors like gender and nationality influence these perceptions.
- Analysis of consumer awareness concerning IoT security vulnerabilities.
- Evaluation of consumer attitudes and trust regarding data privacy in an interconnected world.
- Exploration of value perception in IoT products, including the willingness to pay for better security.
- Investigation of how gender and nationality impact IoT adoption and usage patterns.
- Assessment of the current gap between industry security standards and consumer understanding.
Excerpt from the Book
1) Introduction
This master thesis explored three areas that are crucial to a more secure adaptation of Internet of Things in the coming years. These areas include consumer awareness, perception of privacy and perception of value. With Internet of Things devices and application already becoming popular consumer purchases, the prospects from the industry look very promising, in the case of profitability and growth. However, Internet of Things has also brought with it question marks over the security of networks and the privacy of its users. These questions need to be answered to help build confidence in the industry and gain consumer trust. The author will explore distinct aspects on the consumer side which will bring forward their perspective. Also, to highlight if major gaps exist between the industry and the consumers. The thesis is divided into three phases, the first phase looks at the literature to find out and understand the security vulnerabilities of Internet of Things and what are some of the core challenges that the industry is faced with concerning awareness, privacy and understanding the value perception of consumers. The second phase of thesis will include interviews with experts and a survey of the population from the selected countries. In the third and final phase of the thesis, author will present a conclusion, giving recommendations of the findings and a brief comment of the implications for future research.
In the past 10-15 years, wireless communication systems have grown rapidly. Today we have RFID, Wi-Fi, 4G and what not! All of this has helped the internet of things to become what it is today. These technologies have especially been useful for driving smart monitoring and controlling applications. Presently, the concept of IoT has many sides, it holds many diverse technologies, services and standards. But with this elevated level of heterogeneity and a wide scale of systems, security threats associated with the current Internet are expected to magnify and take new forms. (Sicari, Rizzardi, Grieco, & Coen-Porisini, 2014)
Summary of Chapters
1) Introduction: Provides an overview of the thesis scope, focusing on the critical need to address consumer awareness, privacy concerns, and value perception in the rapidly expanding IoT landscape.
2) What is Internet of Things?: Defines the concept of IoT, examines its economic impact, growth drivers, security challenges, and the vital role of consumer perception in its adoption.
3) Research Methodology and Research Method: Details the research process, explaining the use of a mixed-methods approach combining expert interviews and quantitative surveys to test hypotheses.
4) Interview and Survey: Presents the findings from expert interviews and explains the methodology behind the construction of the consumer survey questions.
5) Results: Displays the empirical data gathered from the survey, covering general consumer awareness, privacy concerns, and value-related purchasing behaviors.
6) Discussion: Synthesizes the findings by comparing them with existing literature, highlighting shifts in consumer sentiment and the persistence of security gaps.
7) Limitations and Implication for Future Research: Acknowledges the constraints of the study and proposes directions for future research into legislative and economic aspects of IoT adoption.
Keywords
Internet of Things, Security, Consumer, Awareness, Privacy, Value, Perception, Austria, India, Gender, Vulnerabilities, Data, Technology, Adoption, Cyber Security
Frequently Asked Questions
What is the core focus of this thesis?
The thesis examines the consumer perspective on three fundamental aspects of the Internet of Things: consumer awareness, perception of privacy, and value perception.
What are the primary themes addressed in the research?
The work focuses on understanding how consumers perceive security risks, their willingness to exchange personal data for value, and the influence of demographic factors on IoT adoption.
What is the main research objective?
The goal is to analyze the differences in awareness and perception toward IoT among consumers in Austria and India to help bridge the gap between industry and user understanding.
Which methodology was applied?
The author employed a mixed-methods approach, conducting expert interviews and a structured quantitative survey involving 300 respondents across two countries.
What topics are discussed in the main body?
The main body covers the definition of IoT, economic impacts, security vulnerabilities, the role of consumer education, and the empirical results of surveys regarding privacy and product features.
Which keywords best characterize this work?
The study is best summarized by keywords such as Internet of Things, Consumer Awareness, Privacy, Security, Value Perception, Austria, India, and Gender.
How does gender influence IoT perception?
The findings indicate that gender plays a role, with men generally demonstrating higher awareness of IoT, while both genders share concerns about decreasing trust in technology over time.
Does nationality affect IoT consumer behavior?
The study found that nationality creates differences in value perception, with Indian consumers showing higher eagerness to pay extra for security compared to Austrian respondents.
- Quote paper
- Mashood Hassan (Author), 2017, Security and Internet of Things (IoT). Analysing the difference between Austria and India in consumer awareness of IoT Vulnerabilities, perception towards IoT Privacy and Value, Munich, GRIN Verlag, https://www.grin.com/document/388671
