Parks Associates study shows increasing demand for wearable technology with health-related features

Data from a new Parks Associates consumer study shows that nearly 50% of U.S. households with internet use wearable technology like smart watches and smart rings, and further adoption of this technology, reports Park Associates, will fuel the growth of attached services such as cellular connectivity, user safety monitoring, and health-related features.

The study, Wearables: Advances in Health & Safety, also found that nearly a third of respondents who own wearable technology have a subscription for an attached service, and over 90% of respondents who are planning to buy a wearable device are willing to pay more for health features. Blood pressure monitoring was reported as the area with the most consumer interest.

Kristen Hanich, research director at Parks Associates, said in a press release that purchase intentions for wearable technology peaked during the pandemic and have since declined, but the perceived value of the technology is still tied to healthcare considerations.

“The value of wearables increases as consumers add more functions, dramatically raising satisfaction,” said Hanich. “Consumer satisfaction is markedly higher among those with attached services.”

Fitbit and Quest Diagnostics are also looking into the health potential of wearable technology. The two companies have partnered to research ways wearable devices can be used to improve metabolic health and plan to release a joint study on the subject later this year.

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