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The State of Wearables Today

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A recent national survey on wearable technology devices (“wearables”) revealed that consumers consider accuracy the most important feature of wearables, and more than half of those who do not own a wearable would consider buying one if they trusted the accuracy. Among those surveyed, more than 42% of respondents own or have owned a wearable device, and the majority (63%) ranked accuracy as a highly important feature of that wearable. Among wearable owners, 80% feel that their wearable has a positive impact on their health. For those who do not own a wearable, 74% of would consider using one if accuracy in wearables could help them to better manage their health.

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The State of Wearables Today

  1. 1. The State of Wearables Today Consumer Survey Results June 2016
  2. 2. ©2016 Valencell. Inc Contents • Survey Overview • Survey Demographics • Executive Summary • Detailed Findings 2
  3. 3. ©2016 Valencell. Inc The 2016 “The State of Wearables Today” Survey was conducted by Valencell in collaboration with MEMS & Sensors Industry Group from May 27 – June 7, 2016. The online survey polled 706 U.S. consumers, ages 18-65, on their knowledge and preferences around wearable technology devices. About this survey 3
  4. 4. ©2016 Valencell. Inc Survey demographics • 706 respondents/completed surveys • 407 male • 299 female • Respondents between 18 – 65 years old • 18 – 29: 25% • 30 – 49: 49% • 50 – 65: 25% • Range of U.S. regions; range of income levels 4
  5. 5. Executive Summary
  6. 6. ©2016 Valencell. Inc Accuracy trumps cost as a barrier to wearable ownership • Nearly half of all respondents own or have owned a wearable device, with the most popular form factors being wristbands, earbuds and smart watches. Among notable findings: • 42% of survey respondents own or have owned a wearable • 52% own a wristband, 36% earbuds and 32% a smart watch • 42% purchased the wearable to track overall activity and 28% purchased to manage weight • Of those who do not own a wearable, 30% do not own because they are too expensive and 28% do not own because they are not sure of the benefit of wearables; 58% would consider buying if they trusted the accuracy 6
  7. 7. ©2016 Valencell. Inc • Wearable owners like to check on progress, and many feel that the wearable has helped improve their performance. Consumers would also like to be able to monitor additional health conditions and metrics. • 35% of wearable owners feel step counting is the most useful function; 18% find heart rate monitoring most useful; and 12% find the notifications most useful • When asked what type of condition they would like to monitor beyond what they are doing now: • 55% would like to monitor stress • 48% would like to monitor hydration • 46% would like to monitor blood pressure • 38% would like to monitor sunlight/UV exposure • 35% would like to monitor key vitamin and supplement levels Consumers want advanced biometrics 7
  8. 8. ©2016 Valencell. Inc Consumers use wearables to track progress and performance • When asked what they like most about their wearable: • 62% like getting data and checking on progress • 29% like that their wearable has helped improve their performance • 27% like the accuracy of the data 8
  9. 9. ©2016 Valencell. Inc Accuracy is key to valuable health insights • 63% of all respondents ranked accuracy as a very important wearable feature, followed by comfort (57%) and battery life (47%) • 73% of all respondents believe that accuracy in wearable technology will one day be able to directly affect your health • 80% of wearables owners feel that their wearable has positively impacted their health • More than 65% of respondents who do not own wearables would consider using one if it provided significant information on their health, including things like blood pressure, stress, and heart health • 74% of respondents who do not own wearables would consider using one if accuracy in wearables was able to help them better manage their health 9
  10. 10. ©2016 Valencell. Inc Recharge hassles, poor accuracy and comfort, and a lack of interesting insights cause wearables to end up in the sock drawer • More than 80% have owned their wearable for more than six months • 56% wear their wearable everyday; 13% wear it once a week • 37% have discontinued the use of their wearable • 54% stopped using their wearable within 3 months or less • Top reasons for discontinuing use of a wearable: • 40% Too much of a hassle to continually recharge • 29% Not accurate enough (didn't trust the readings) • 26% Uncomfortable to wear • 24% Did not continually provide interesting insights 10
  11. 11. Survey Findings All Respondents
  12. 12. ©2016 Valencell. Inc Do you currently, or have you ever, owned a wearable technology device? Nearly half of consumers surveyed own a wearable device. Wearable device defined as: a device, clothing and/or accessories incorporating computer and advanced electronic technologies. 12
  13. 13. ©2016 Valencell. Inc Please rate the following in regards to wearable devices; 1 = not important and 5 = very important Accuracy, comfort, and length of battery charge are key priorities among all survey respondents 13
  14. 14. ©2016 Valencell. Inc How important is accuracy to you when it comes to wearable devices; 1 = not important and 5 = very important More than 63% of all respondents rated accuracy as very important 14
  15. 15. ©2016 Valencell. Inc Do you feel that accuracy in wearable technology will one day be able to directly affect your health? 73% of survey respondents feel that wearable accuracy will one day impact health 15
  16. 16. Survey Findings Consumers who own a wearable
  17. 17. ©2016 Valencell. Inc If yes, what kind of wearable device do you own? Wristbands, earbuds and smart watches are most common wearables owned 17
  18. 18. ©2016 Valencell. Inc What functionality does your wearable include? Step counting, heart rate monitor, sleep tracking and calorie counting are common functions for wearables 18
  19. 19. ©2016 Valencell. Inc If you had to choose one, what is the most useful functionality of your wearable device? Step counting, heart rate monitor, and notifications are most useful functions among wearable owners 19
  20. 20. ©2016 Valencell. Inc Why did you originally purchase the wearable? • Tracking overall activity and managing weight are most poplar reasons consumers purchased wearables • 31% were given a wearable as a gift 20
  21. 21. ©2016 Valencell. Inc What type of condition would you like to monitor beyond what you are doing now? Consumers would like to monitor advanced biometrics including stress, hydration and blood pressure 21
  22. 22. ©2016 Valencell. Inc How long have you owned your wearable device? Most consumers have owned their wearable for more than 6 months 22
  23. 23. ©2016 Valencell. Inc How often do you wear/use your wearable? More than half of respondents use their wearable every day 23
  24. 24. ©2016 Valencell. Inc Since purchasing your wearable, have you discontinued using it? More than 37% of wearables owners have discontinued using the wearable 24
  25. 25. ©2016 Valencell. Inc If yes, why did you discontinue the use of your wearable? Recharging hassles, lack of accuracy, and lack of comfort were top reasons that wearable owners discontinued use 25
  26. 26. ©2016 Valencell. Inc How long after purchasing your wearable did you stop using it? Nearly a third of wearable owners discontinued use of their device after only a few weeks 26
  27. 27. ©2016 Valencell. Inc What do you most like about your wearable? Most people like getting the data and checking on progress the most of all features; nearly 30% feel it has helped improve performance 27
  28. 28. ©2016 Valencell. Inc Please rate the following in regards to wearable devices; 1 = not important and 5 = very important Accuracy, comfort, and length of battery charge are key priorities among wearable owners 28
  29. 29. ©2016 Valencell. Inc How important is accuracy to you when it comes to wearable devices; 1 = not important and 5 = very important Nearly 69% of wearable owners rated accuracy as very important 29
  30. 30. ©2016 Valencell. Inc Do you feel that your wearable device has an overall positive impact on your health? Nearly 80% of wearable users feel that their wearable has positively impacted their health 30
  31. 31. ©2016 Valencell. Inc Do you feel that accuracy in wearable technology will one day be able to directly affect your health? Nearly 90% of all wearable owners feel that wearable accuracy will one day impact health 31
  32. 32. ©2016 Valencell. Inc Have you ever visited a doctor based on the data you’ve received from your wearable device? While most wearable owners have not visited a doctor due to data from their wearable… …for those who have, in most cases the doctor agreed that they should have come in 32
  33. 33. ©2016 Valencell. Inc Would you prefer a wearable that you could wear: Most consumers want a wearable they can wear day and night, but a significant number would rather a wearable focused on exercise use only. 33
  34. 34. Survey Findings Consumers who do not own a wearable
  35. 35. ©2016 Valencell. Inc If you do not own a wearable, why is that? Cost is the main barrier to wearable ownership; some are not sure of benefits 35
  36. 36. ©2016 Valencell. Inc Is there any type of wearable that you might consider buying? Nearly half of all respondents who do not own wearables might consider buying one 36
  37. 37. ©2016 Valencell. Inc If yes, are you considering buying a wearable in the next: 75% of those considering a wearable purchase intend to purchase in the next year 37
  38. 38. ©2016 Valencell. Inc What functionality is missing from the wearables on the market today that would get you to buy a wearable if it was available? • Phone • Monitor • Accuracy • Good battery life • Blood pressure • Full weatherability • Security features • Health recommendations • Affordability • Comfort • GPS • Syncing with other devices • Stress monitor • Ease of use • Responses included: 38
  39. 39. ©2016 Valencell. Inc Do any of your friends or family members own wearables? More than half of non- owners have friends or family who own a wearable 39
  40. 40. ©2016 Valencell. Inc If yes, are they satisfied with them? More than half of known friends and family wearable owners are satisfied 40
  41. 41. ©2016 Valencell. Inc If you trusted the accuracy of a wearable, would you consider using one? More than half of non-owners would consider purchasing a wearable if they trusted the accuracy 41
  42. 42. ©2016 Valencell. Inc If wearables provided significant information on your health, including things like blood pressure, stress, and heart health, would you consider using one? More than half of non- owners would consider purchasing a wearable that provided advanced health insights 42
  43. 43. ©2016 Valencell. Inc If accuracy in wearables was able to help you better manage your health, how likely would you be to use one regularly? Nearly 75% would purchase if wearables could help better manage health 43
  44. 44. ©2016 Valencell. Inc If you were to buy a wearable, please rate the importance of the following criteria; 1= not important and 5 = very important: Accuracy, comfort and battery charge are top priorities for non-owners 44
  45. 45. ©2016 Valencell. Inc How important is accuracy to you when it comes to wearable devices? 1= not important and 5 = very important: Accuracy ranks as “very important” among non-owners 45
  46. 46. ©2016 Valencell. Inc Do you feel that accuracy in wearable technology will one day be able to directly affect your health? More than 60% of all non- owners feel that wearable accuracy will one day impact health 46
  47. 47. ©2016 Valencell. Inc If wearables were so accurate that they could help manage your health by only wearing them one hour a day, at your convenience, how likely would you be to use one? Non-owners would consider using a wearable if they only had to wear it for one hour per day 47
  48. 48. ©2016 Valencell. Inc About the Survey Sponsors About Valencell Valencell develops performance biometric sensor technology and provides this patent-protected technology to consumer electronics manufacturers, mobile device and accessory makers, sports and fitness brands and gaming companies for integration into their products. Valencell's PerformTek® biometric sensor technology employs active signal characterization, the process of segmenting raw signal data from biometric sensors into biological, motion, and environmental signals and noise. Valencell's inventions are currently found in wrist-, arm-, and ear-worn wearables and hearables. Valencell has invested years into the research and development of its PerformTek sensor technology, protected by dozens of granted patents and independently validated by the Duke Center for Living, North Carolina State University, the Human Performance Laboratory and a fellow of the American College of Sports Medicine. For more information, visit www.valencell.com. About MEMS & Sensor Industry Group MEMS & Sensors Industry Group (MSIG) is the trade association advancing MEMS and sensors across global markets. MSIG advocates for near-term commercialization of MEMS/sensors-based products through a wide range of activities, such as conferences, technical working groups and education. By bringing the TSensors® (Trillion Sensors) Enterprise under the umbrella of events and programs, MSIG also increases worldwide awareness of emerging MEMS/sensors-based applications with huge commercialization potential in the next decade and beyond. Nearly 200 companies and industry partners comprise MEMS & Sensors Industry Group, including Analog Devices, ARM, Bosch, Cirrus Logic, EV Group, GE, GLOBALFOUNDRIES, HP, HTC Corporation, Huawei, Infineon, Intel, InvenSense, Kionix, Knowles Corporation, Lam Research, Lenovo, NXP, OMRON Electronic Components, Qualcomm Technologies, Inc., SONY Electronics, SPTS Technologies, STMicroelectronics, Texas Instruments and TSMC. For more information, visit: www.memsindustrygroup.org and follow MSIG on LinkedIn and Twitter (use @MEMSGroup). 48
  49. 49. Thank You!

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