I’ve written before on my growing skepticism for the future of wearable devices. With their uninspiring adoption rates and user drop-off trends averaging just 6 months, saying that the future looks bleak for wearables is, in my opinion, putting it lightly.
New reports from PricewaterhouseCoopers and its Health Research Institute show that Americans are optimistic for the future of wearable devices, but are not enthusiastic about where the technology is right now.
What is a watch going to provide me that my phone doesn’t already?
In order for wearables to succeed, they need to walk a fine line. They need to best their long-favored competitor, the smartphone, while maintaining a friendly relationship so that they can share data and seamlessly integrate with it. Smartphones are essentially wearables themselves in the fact that they are glued to our hands for a lot of the waking hours of the day. This, leads many to question why they would ever spend $150-$500 on a device that may not be all that they had hoped for. Consumers are not looking to ditch their smartphones, but they are open to the idea of adding a new utility to their health-and-lifestyle toolkit.
Adoption rates for wearables are typically nothing to write home about. But when you compare the adoption rate of wearables with that of another contemporary device (such as the tablet) that broke serious ground, you begin to see a light at the end of the tunnel for wearables.
I’m extremely eager to see if wearable technology mirrors the path that tablets traveled not so long ago. Tablets are increasingly becoming our favorite second screens. Could a wearable device soon be our third?
Source: http://www.pwc.com/us/en/industry/entertainment-media/publications/consumer-intelligence-series/index.jhtml
About the Author:
As Managing Director of Innovation and Insights for Syneos Health Communications, Leigh is responsible for building and scaling a global team of healthcare experts who together help life science leaders better understand the complex lives, influences and expectations of their customers. Specifically, they uncover actionable insights that fuel empathy and creativity; lead co-creation events that let marketers learn from peers, trends, and new possibilities; and help clients identify the most valuable and useful new customer experiences to create.
Leigh has worked with Fortune 1000 companies to craft their digital, mobile, social and CRM strategies for nearly 20 years.She’s worked for category-leading agencies in retail, public affairs, B2B technology, and higher education. Prior to moving to Syneos Health Communications, she held several leadership roles at our largest agency, GSW. There, she founded an innovation practice fueled by the zeitgeist and spearheaded digital and innovation thinking across the business.
Leigh has taken a special interest in complex healthcare products that can change lives in meaningful ways. She was recently a strategic lead on the 3rd largest launch in pharmaceutical history: Tecfidera. Before that she had keys roles with Eli Lilly Oncology, Abbott Nutrition, Amgen Cardiovascular, and Eli Lilly Diabetes.
A critical part of Leigh’s work is trends and new ideas. Every year, she convenes a group of trend watchers from across our global network to identify the shifts most critical to healthcare marketers. This year, she led over 250 experts to experts to focus on the most important changes in the commercial, consumer, marketing, digital and healthcare landscapes. (See reports at trends.health)
Leigh is a sought-after writer and speaker. Recognized as one of the most inspiring people in the pharmaceutical industry by PharmaVoice and Top 10 Innovation Catalysts of 2017 by MM&M, Leigh also was recognized as a Rising Star by the Healthcare Businesswomen's Association (HBA) for her overt passion, industry thought leadership and significant contributions in new business, strategy and mentoring.
