New research from Parks Associates finds 25% of US broadband households plan to buy a connected health device in the next 12 months.
“Crossover between healthcare and smart home tech is rapidly expanding, with many large players entering this space,” says Elizabeth Parks, president, 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.”
Parks Associates says there’s a vast market opportunity for industry players with a footprint in the home to expand into the connected health space. A majority of consumers now find virtual care solutions that incorporate data from their connected health devices appealing, adds the research group.