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The Wearable Tech Market is on the Move. Are You Keeping Up?

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The Wearable Tech Market is on the Move. Are You Keeping Up?

May_trends_trackerWhen it comes to wearable tech like fitness trackers and smart watches, we’ve got one question: Who are you wearing?

That’s because in our recent consumer study, we found that the number of consumers using or planning to use wearable tech has doubled.

In fact, the current global wearables market is projected to reach an estimated $16 billion by the end of the year.

Plus, increased consumer adoption—along with partnerships like Strava and Fitbit—will likely keep companies busy in this active market.

How did we learn about this hot consumer trend? SurveyMonkey Audience teamed up with Blueshift Research, an investment research firm, to deliver the latest on top consumer trends affecting the marketplace.

In May, we surveyed 1,100 U.S. consumers on topics including paying for T.V. services, console gaming, and wearables. Blueshift Research analyzed the data and reported their findings on how these trends affect businesses and investors.

Here are a few highlights from this month’s report:

  • There’s a 9% decrease in consumers who are paying for T.V. services
  • Console gaming is on the rise, partly thanks to sales of Xbox One and PlayStation 4
  • More consumers have adopted, or are planning to adopt, wearable technology

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One of the most interesting trends this month is consumers’ growing interest in wearables. Compared to six months ago, 40% of consumers say they’re using or planning to buy fitness trackers, health monitors, and smart watches:

How likely are you to adopt wearable technology in the next three months?

Wearables May 2015 TT

At the same time, the number of people who stated they would never consider adopting wearable tech is dropping. From November to May, we saw a 9.5 percentage point decrease among those who are not at all likely to get in step with this trend.

Who’s preparing to add wearable tech to their wardrobes? Read our free Trends Tracker Report to find out! Make sure you’re keeping up with this fast-moving consumer craze, and get insights into 15 more consumer trends. Get the report →

Want to take the pulse of your own audience? Contact us to get your own custom insights for your business today.

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