Security and the Internet of Things

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.

Autorentext

Holds a Masters of Arts: Business in Emerging Markets from FH Joanneum in Graz, Austria. This work represents the Master Thesis of the Author which was successfully defended in 2017. Apart from IoT, the author has a keen interest in the fields of Business Model Innovation and Green Economy.