Consumer adoption of smart wearables is now nearly half (48%) of U.S. Internet households, Kristen Hanich, director of research for Parks Associates, told a Connected Health Summit audience Thursday, signaling that the category is “crossing the chasm” -- or moving from early adopters to the mainstream.
Five years ago, “adoption was half of what it is today,” she noted, adding that as the category has evolved, consumers are increasingly turning to service subscriptions on top of the cost of the wearables themselves.
One third of wearable owners now have such subscriptions, Hanich said. These are led by cellular plans, but “fitness and lifestyle subscriptions, premium health insights, and health coaching services are in demand and growing,” she explained.
The wearables market is led by smart watches, “owned and used by roughly a third of U.S. internet households,” Hanich reported, followed by smart scales, and then connected exercise equipment.
Moving up, though, are smart rings and hybrid watches (which look like dumb analog watches despite being smart). Indeed, she said that 12% of households are likely to purchase a smart ring in the next six months, a figure just about equal to those looking to purchase both hybrid watches and GPS sports watches. Smart watches and fitness trackers still lead in consumer want lists, however.
Hanich pointed out that smart rings and hybrid watches have the advantage of being screenless devices.
From the article, "Ring This Up: Smart Wearables Hitting Mainstream Status" by Les Luchter
Patrice Samuels, senior analyst at Parks Associates, a market research company specializing in emerging consumer technology products and services, said demand for traditional technology support, like...
Password sharing cost streaming companies about $9.1 billion last year, according to data from the research firm Parks Associates. From the article "The streaming wars are flooding us with TV".
Yet the so-called smart kitchen remains a tough sell. With the kitchen often a hub for families and friends, habits there can be hard to change. And many people see the kitchen and mealtimes as a have...
“There’s only so many consumers out there that are willing to pay full price,” said a research analyst with Parks Associates From the article, "How Netflix is adapting as the streaming boom stalls....