Market assessment addresses consumer and industry trends in smart watch market
DALLAS, Oct. 21, 2022 /PRNewswire/ — New research from Parks Associates reveals that the top use cases for wearables involve health and activity tracking, while 22% of US internet households (25 million households) using their wearables for safety reasons. The international research firm’s study Smart Watches and Wearables Market Assessment reveals adoption of smart watches increased from 16% of US internet households in 2020 to 29% in 2021.
“Connected health has become mainstream – with smart watches leading the way,” said Kristen Hanich, Research Director, Parks Associates. “The market is undergoing a period of terrific growth and change, with a focus on more powerful and high-performing end devices.”
The adoption of wearables leads the connected health category, with smart watches the number one most adopted connected health product overall. Smart watch owners are a particular enthusiastic core of the connected health market, owning a variety of other smart health products such as exercise equipment, weight scales, and smart thermometers. Parks Associates research finds smart watch owners in particular are likely to own and use other connected health products, with these consumers reporting owning an average of nearly seven devices.
“While consumer intention to purchase wearables has roughly doubled compared to 2020, traditional wearables players must still make an effort to better market and advertise to these new consumers, or risk losing them,” Hanich said. “This new research identifies key market drivers and barriers in the smart watch and wearables smart product category and includes five-year topline market forecasts.”
Parks Associates’ Smart Product Market Assessments provide a comprehensive and deep analysis of a single smart product market. This analysis includes consumer data for each product, including trending data across years and deep-dive questions on product usage, pain points, and preferences.
For more information on Smart Watches and Wearables Market Assessment, contact firstname.lastname@example.org. More information and tables of contents can be found at https://www.parksassociates.com/services/smart-product-assessments.
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Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.
The company’s expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com
SOURCE Parks Associates