New research from Parks Associates finds that 25 percent of U.S. broadband households plan to buy a connected health device in the next 12 months. The research firm will feature new connected health research and trending data, including insights from key industry leaders, at its seventh annual Connected Health Summit: Consumer Engagement and Innovation, a virtual conference scheduled for Sept. 1-3.
"Crossover between healthcare and smart home tech is rapidly expanding, with many large players entering this space," said Elizabeth Parks, president of Parks Associates. "Adoption of smart watches has doubled since 2019, in large part due to increased Apple Watch ownership, and now Amazon has announced a new fitness band and subscription service called Halo. Entrance of these big brands will expand the market for wellness solutions at home and will also expand the data sources health providers can use for telehealth and independent living services, especially as people continue to stay at home to avoid potential COVID-19 exposure."
In addition to health trends influenced by the pandemic, Connected Health Summit will address consumers' interest in virtual health monitoring and independent solutions. The firm reports that 33 percent of consumers are interested in wearables monitoring their health, including 20 percent who are very interested.
"There is a vast market opportunity for industry players with a footprint in the home to expand into the connected health space," Parks said. "A majority of consumers now find virtual care solutions that incorporate data from their connected health devices appealing."