Intent to purchase IoT home security devices: Fear vs privacy

Abstract

The Internet of Things (IoT) is a widely hyped concept, with its focus on the connection of smart devices to the Internet rather than on people. IoT for consumers is often called the smart home market, and a large part of that market consists of home security devices. Consumers are often motivated to purchase smart home security devices to prevent burglaries, which they fear may lead to damage to their property or threats to their families. However, they also understand that IoT home security devices may be a threat to the privacy of their personal information. To determine the relative roles of fear and privacy concerns in the decision to purchase IoT home security devices, we conducted a survey of American consumers. We used the Theory of Reasoned Action as the theoretical basis for the study. We found that fear positively affected consumer attitudes toward purchasing smart home security devices, while concerns about privacy negatively affected attitudes. We found that attitudes toward purchase, the opinions of important others, and experience with burglaries all affected intent to purchase. We also found that the relationship between privacy concerns and intent to purchase is completely mediated by attitudes, while fear has both direct and indirect effects on intent.