July 7, 2016

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More than 20% of U.S. broadband households plan to buy a smart combination sensor this year

ARM, Qualcomm Life, and Z-Wave to discuss IoT and connected health crossover opportunities at Connected Health Summit: Engaging Consumers

Parks Associates consumer research reports more than 20% of U.S. broadband households plan to buy a smart combination sensor in 2016, and as connected consumers adopt and install more in-home sensors, these IoT technologies will expand the connected health market. The research firm will examine the role of the smart home in expanding the connected health experience for consumers at the Connected Health Summit: Engaging Consumers, August 30 – September 1 in San Diego.

“As a sign of rising consumerism in the healthcare markets, one-third of U.S. broadband households own and use at least one connected health or wellness device, and 40-45% of consumers with a chronic condition have used at least one health app,” said Harry Wang, Senior Research Director, Parks Associates. “By tying these solutions into the smart home infrastructure, we can expand the impact of the connected healthcare market exponentially. At Connected Health Summit, we will explore new research on consumer attitudes, motivations, and behaviors to identify strategies that leverage the IoT in order to improve healthcare outcomes and engage consumers.”

The session “Sensors and IoT Technologies for Connected Care,” moderated by Brad Russell, Research Analyst, Parks Associates, 10:45 a.m. on September 1, will explore use cases that cross over to the smart home industry, including strategies where intelligent sensors can enable independent living and remote diagnosis and monitoring.

Speakers for the session:

• James R. Mault, M.D., F.A.C.S., VP and Chief Medical Officer, Qualcomm Life
• Karthik Ranjan, Director Healthcare Technology, ARM
• Bill Scheffler, Director of NA Sales and Business Development, Sigma Designs/Z-Wave

“More than 60% of U.S. broadband households have someone with a chronic condition, while the number of people 65-85 will account for more than 16% of the total population by 2025,” Russell said. “Market forces and government reforms are pushing healthcare to use more remote care and self-care solutions, which will integrate smart home sensors and cloud platforms to make this new model of care delivery feasible. Connected health devices and apps, built on cloud-based platforms, give consumers and their care providers the insight they need to manage health conditions in a proactive, ongoing way.”

Parks Associates research notes that the home care model, complemented with a good mix of public services, community resources, family support, and private insurance, will be the most viable model for the care of the elderly and chronic-care patients going forward. Technology-supported care models hold the promise of keeping these patients in their homes while enhancing comfort via intelligent preventive and alert systems.

Conference sponsors for Connected Health Summit include Higi, ARM, Care Innovations, Honeywell, PokitDok, Z-Wave, ZigBee, the California Health Care Foundation, and MivaTek.

Registration to Connected Health Summit is open, and media are invited to secure press passes. For more information visit, www.connectedhealthsummit.com. Follow the conference on Twitter at @CONN_Health_Smt and #CONNHealth16.

Parks Associates will host a complimentary webcast “Disruption and Innovation in the Top-three Digital Health Markets” on July 28 at 1:00 p.m., which will preview key topics for Connected Health Summit. Register at http://www.parksassociates.com/health-2016.

To schedule a meeting with an analyst or speaker, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Connected Health Summit: Engaging Consumers

Parks Associates’ sixth annual Connected Health Summit: Independent Living and Wellness is an executive conference focused on the impact of connected devices and IoT healthcare solutions on consumers at home.

Connected Health Summit provides insights on new business models, IoT technologies, consumer behaviors, and deployments relevant to consumer healthcare solutions. The conference addresses opportunities for new solutions, including smart home platforms, on-demand services, voice assistants, and wearables, to empower consumers, caregivers, and providers with new insight into patient health and to meet the growing demand for services in independent living, chronic care management, remote access to care, and wellness and fitness.

Connected Health Summit: Independent Living and Wellness will take place August 27-29 at the Pendry San Diego in San Diego, California. 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.