Parks Associates Announces Wearables Data before Mobile World Congress
Dallas, Texas, February 26, 2015 - Research firm Parks Associates announced today that 5% of U.S. broadband households use a smart watch with health and fitness tracking functions, while 8% use a digital pedometer or fitness/activity tracker. Tejas Mehta, Parks Associates' research analyst covering the mobile and wearable markets, is attending Mobile World Congress next week in Barcelona to support the event and share the firm's insights in wearable technology adoption trends and mobile consumer research.
"Though increased adoption of smartphones is fueling the mobile revolution that includes wearable devices, consumers' all-encompassing desire to use smartphones in all aspects of their lives is creating a dilemma for wearable OEMs," Mehta said. "In the case of smart watches, these devices are regularly marketed as companion or 'tethered' smart products. Companies need to rally consumer interest in smart watches by educating them on the unique experiences and benefits of these and other wearables. Otherwise, the majority of consumers may not see the reason to purchase another device that has similar, if not the same, capabilities as their smartphone."
Parks Associates' consumer research from the fourth quarter of 2014 shows 7% of U.S. broadband households use a GPS watch to track a wearer's location and 5% use a sports watch with a built-in heart-rate monitor. Parks Associates estimates more than 32 million U.S. consumers will actively track their personal health and fitness online or via mobile by 2016. U.S. sales of connected wellness and personal health products and services will exceed $8 billion in 2018.
"LG just launched its Urbane-branded smart watch, and HTC will likely announce its entrance into the wearables market this week. We will see a variety of new form factors at Mobile World Congress," Mehta said. "The pressure on the industry now is to create unique value propositions for these devices that align with current consumer interests."
Parks Associates will host the Connected Health Summit: Engaging Consumers, September 9-10, 2015, in San Diego. Follow the event on Twitter at @CONN_Health_Smt and #ConnectedHealth15.
The following digital health research is available from Parks Associates:
• Wearable Computing: Fitness and Health in Style
• Digital Health Consumers: A Lifestyle and Technology Segmentation
• Virtual Care: Technologies & Business Models
• Independent Living At Home: Second Edition
• Networked Medical Devices: Innovations and Business Models
• Prescribing Apps: Engaging Health Consumers
• Online Communication Tools for Healthcare
• Connected Health Opportunities for Service Providers
• The Real Healthcare Changes On The Way
To schedule an interview with a speaker or analyst, or to request specific mobile or health research, contact Holly Sprague at firstname.lastname@example.org.
About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security. http://www.parksassociates.com
About Connected Health Summit
Connected Health Summit: Engaging Consumers analyzes the roles of connected health technologies and innovations in driving changes in consumer behaviors and business models. The event focuses on four areas of consumer health technologies in particular, which all require active consumer participation to be successful: remote health monitoring for accountable care, consumer-centric wellness and fitness solutions, independent living technologies and services, and innovative convenience care models.
The 2015 Connected Health Summit: Engaging Consumers will take place September 9-10 at the Omni Hotel in San Diego, CA. www.connectedhealthsummit.com. Follow the event on Twitter at @CONN_Health_Smt. Subscribe to Parks Associates' digital health newsletter at http://www.parksassociates.com/newsletters_subscribe.
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