You’ve probably heard of B2B, for business-to-business, and B2C, for business-to-consumer.
Now get ready for M2M, a new generation of technology that’s machine-to-machine.
According to a new report from the Livonia research firm Market Strategies International, consumers see home energy monitoring and management and health monitoring as the two most M2M systems in the marketplace.
“With 60 percent 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,” said 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, 60 percent
* Health monitoring, 60 percent
* Property security, 55 percent
* Personal or pet security, 49 percent
* Mobile banking and mobile shopping, 48 percent.
Christensen said the study results indicate providers of M2M systems now have a significant opportunity to increase awareness and adoption rates of these concepts. She said aggressive consumer education initiatives emphasizing tangible cost savings, convenience and secure technology will be critical to successful M2M commercialization.
“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,” noted Christensen.
Interestingly, 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, she added.
Other key findings 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.
For information about trusted M2M providers and consumers’ preferred payment models, contact Keri Christensen at firstname.lastname@example.org.
Market Strategies interviewed a national sample of 1,500 consumers aged 18 and older between June 21 and July 1. Respondents were recruited from an opt-in online panel of United States adults and were interviewed online. The data were weighted by age, gender and census region to match the demographics of the US population. Due to its opt-in nature, this online panel (like most others) does not yield a random probability sample of the target population. As such, it is not possible to compute a margin of error or to statistically quantify the accuracy of projections.