Newly released data in Great Britain shows growing tendencies of health and fitness wearable tech market in 2015, with Kantar Media’s syndicated study, futurePROOF, showing that the market will rise to an estimated 13.1 million users next year. Currently 6.7 million British adults use health and fitness wearable devices and smartphone apps for activities such as monitoring their heart rate, recording steps taken and calculating fitness levels.
Of these 6.7 million users, half only use free health and fitness apps on their smartphone, whilst half have paid for apps or devices. However, 84% of people currently using free apps (approximately 3.3 million users) are likely to purchase either health and fitness wearable tech devices or smartphone apps in the future. Similarly, 88% of people planning to use wearable technology in 2015 state that they would be likely to purchase a health and fitness wearable device.
Around 2.6 million (79% of the paying market) have bought a health and fitness wearable device and 1 million (28%) are using a paid for health and fitness smartphone app. Only 7% of the paid market is currently using both apps and devices.
When it comes to the smart glass usage, Kantar expects a growing interest throughout 2015 with 15% of people currently using health and fitness wearable tech interested in purchasing these kind of products, and 30% of those entering the market in 2015 interested in purchasing them.
84% of people currently using free apps are likely to purchase either health and fitness wearable tech devices or smartphone apps in the future.In terms of the growing market for wearable tech in general, 12% of current users are interested in buying jewelry, 22% would consider clothing, and 27% are thinking about purchasing shoes. These figures rise to 21%, 32% and 30% respectively for those entering the market in 2015.
“These figures are set to increase as brands innovate in this space as a means of attempting to engage with consumers and extend the overall brand experience,” said Rioch Brewer, Senior Statistician at Kantar Media Custom “It is also interesting to see that consumers are happy to pay for apps and devices, which opens up additional opportunities for manufacturers and developers.”
Using the current prices of goods, Kantar Media has estimated the value of the current health and fitness wearable tech market somewhere between £225 and £375 million.