Thirty-five percent of American adults are planning to purchase a wearable technology device, and more than half of those are interested in using their wearable for activity tracking, according to new data from ON World.
The research group surveyed more than 1,000 US adults for a new report, completed last month.
“Adoption for mobile sensing health and wellness devices continues to grow with fitness apps such as activity tracking leading the way,” Mareca Hatler, ON World’s research director, said in a statement. “Bluetooth Smart provides ubiquitous connectivity to smartphones and tablets for a growing mobile healthcare ecosystem driven by intensifying challenges for patient monitoring, diabetes management and an aging population.”
After activity tracking, the most popular planned use cases are heart rate monitoring, sleep monitoring, blood pressure monitoring, and caring for the elderly.
Thirty-nine percent of the respondents who were interested in wearable technology planned to buy a dedicated activity tracking device, up from 32 percent when ON World conducted the same survey last year. Smartwatches were also up, from 42 percent to 44 percent -- a relatively small change considering that the Apple Watch was announced between last year's study and this year's.
In terms of price, 44 percent of the likely wearable technology consumers said they would pay at least $99 for a wearable tech device. Just 10 percent are willing to spend $299 or more.
Last year, ON World reported that in the next five years an estimated 700 million wearable technology devices would ship worldwide, which will make for a $47.4 billion market. The research firm predicts that hardware sales will continue to dominate revenues for the next five years, but monitoring services, apps, and subscriptions will have faster growth rates.
Another ON World survey last year found that almost 75 percent of Americans believe wearable technology will have a positive impact on health, sports, and fitness industries, and that the wearable devices consumers most wanted was a smartwatch, followed by an activity tracker, smart glasses, heart rate monitor, and smart clothing.