Parks Associates: 25% of US Broadband Households Plan to Buy a Connected Health Device in the Next 12 Months

Near- and Long-Term Impact of COVID-19 on Consumer Healthcare Market Addressed at Connected Health Summit: Consumer Engagement and Innovation

New research from Parks Associates finds 25% of US broadband households plan to buy a connected health device in the next 12 months. The research firm will feature new connected health research and trending data, including insights from key industry leaders, at its seventh annual Connected Health Summit: Consumer Engagement and Innovation, a virtual conference on September 1-3. Sponsors include Alarm.com, Nortek Security & Control, athenahealth, Softeq, Becklar, and Sprosty Network.

“Crossover between healthcare and smart home tech is rapidly expanding, with many large players entering this space,” said 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.”

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In addition to health trends influenced by the pandemic, Connected Health Summit will address consumers’ interest in virtual health monitoring and independent solutions. The firm reports 33% of consumers are interested in wearables monitoring their health, including 20% who are very interested.

“There is a vast market opportunity for industry players with a footprint in the home to expand into the connected health space,” Parks said. “A majority of consumers now find virtual care solutions that incorporate data from their connected health devices appealing.”

The event is focused on consumer behaviors and changing demands driven by the COVID-19 pandemic and new business models, IoT technologies, and deployments emerging to target these new needs.

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The agenda for Connected Health Summit includes visionary presentations from Beth Israel Deaconess Medical Center / Harvard Medical School, Blue Shield of California, Care Planning Institute, Cincinnati Children’s Hospital Medical Center, Cox Communications, People Power, and UnitedHealthcare and participation from over 400 industry executives.

Main Sessions:

• COVID-19: Transforming the Healthcare Ecosystem
• Telehealth and RPM: Moving to the Core of Healthcare Delivery
• COVID-19: Seniors, Caregiving, and Independent Living Solutions
• Home-centric Care: Activating the Ecosystem through Partnerships
• Tracking Health: Technology, Privacy, and Pandemic
• Future of Connected Health: Lessons Learned and New Innovations

Throughout the event, Parks Associates will feature its latest data from COVID-19: Impact on Telehealth Use and Perspectives, COVID-19: Impact on Seniors, Caregivers, and Independent Living Solutions, and Wearables: Health and Wellness Use Cases.

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