Wearable devices can become more popular if they solve this one problem

Nokia to buy wearables maker withings

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Wearables adoption in the US is growing at a rapid pace, according to a new survey by PwC.

The online survey of 1,000 US adults found that 49% of all participants reported owning a wearable device in 2016, though the study notes this number is most likely inflated due to some respondents misinterpreting the survey.

Nevertheless, that's a vast improvement over 2014 when only 21% of respondents recorded that they owned a wearable device. Furthermore, 36% said that they owned more than one wearable device, which included fitness trackers, smartwatches, smart glasses, and smart clothing.

The fitness band was the most common form factor, as 45% of participants who said they had a wearable reported owning a fitness band. This makes sense considering that the leading factor behind the increased adoption of wearables generally was their perceived effect on users’ fitness and well-being.

Furthermore, 63% of respondents believe wearables will decrease obesity, up from 45% of respondents in 2014. Similarly, 70% of participants thought that wearables would extend life expectancy, up from 56% in 2014. The second most common devices were smartwatches (27%), followed by smart glasses (15%) and smart clothing (12%).

Initial excitement over wearables won't necessarily translate into long-term usage. The survey uncovered a number of factors that led to a decrease in the daily use of wearables devices over a year. These include things like a lack of a clear use-case, finding the device unattractive or uncomfortable, a short battery life, and problems syncing the device with a smartphone.

But consumer perceptions of wearables can be influenced by the inclusion of strong usage motivators such as gamification, accountability, and better smartphone connectivity. For instance, eight out of 10 current users say that wearables should have a reward program attached to them that offer monetary or loyalty incentives for a certain amount of use. This stresses the need for quality apps for wearables to help keep owners incentivized to continue using their devices.

The health sector is the most promising area for wearables adoption. Several emerging consumer and professional healthcare trends, which dovetail with advances in health technology over the past five years, are driving interest in wearables. And where wearables are most commonly used for fitness-tracking purposes at the moment, they show great potential for widespread adoption in the healthcare sector.

Will McKitterick, senior research analyst at BI Intelligence, Business Insider's premium research service, has compiled a detailed report entitled The Wearables in the Healthcare Sector Report that examines the use cases for wearables in health, ranging from consumers collecting fitness data to healthcare providers and insurers using wearables to improve health outcomes.

The report also explores barriers to widespread adoption of wearables in healthcare and how tech giants, including Apple, Google, and Samsung, are developing devices and platforms that will help bridge the gap between fitness tracking and actual medical care.

Nokia to buy wearables maker withings

Here are some key points from the report:

• While adoption levels are growing, the wearables market is still in the early phases of expansion. We estimate global shipments will increase at a compound annual growth rate (CAGR) of 24.8% over the five years, reaching 162.9 million units in 2020.
• Emerging consumer and professional healthcare trends are driving interest in wearables. For consumers, interest in quantifying personal health metrics is translating into demand for fitness tracking devices and smartwatches. Meanwhile, businesses in a variety of industries have been quick to sense the opportunities for harnessing health data from employees, consumer, and patients to help drive efficiencies and enhance services related to healthcare.
• Barriers remain blocking the widespread adoption of wearables in the healthcare sector. Device accuracy and regulation are two major sticking points for device makers and technologists to address. Concerns surrounding privacy and a lack of utility must also be addressed.
• Consumer-facing products will eventually be used for more advanced medical care. Tech giants, including Apple, Google, and Samsung, are investing significant resources into developing devices that will help bridge the gap between fitness tracking and actual medical care. Future products will serve both consumer and professional markets.

In full, the report:

• Looks at areas of the healthcare sector where wearables may have a tangible impact in years to come.
• Examines what broader trends in healthcare and technology are driving wearables adoption.
• Discusses how major tech players, including Apple, Google, and Samsung plan on transforming consumer wearables into powerful healthcare devices.
• Identifies the top hurdles to wearables adoption in the healthcare sector.

To get your copy of this invaluable guide to the world of wearables, choose one of these options:

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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the wearables in the healthcare sector.