The consumer medical wearable technology market is one of the fastest growing sectors in the technology industry. Recent data showed that the global wearable healthcare market is expected to reach US$30.1 billion by 2026, from US$16.2 billion in 2021. Driven by a series of factors – including response to Covid-19, the rollout of 5G connectivity and improvements in device range and functionality – our appetite for wearable technology has exploded over the past couple of years.
A recent study explored consumer attitudes and behaviors toward wearable technology. The results illustrated the extent of consumer demand and expectations in this area. Thirty-three percent of Canadians say they already use at least one wearable technology device, and up to 61 percent of Canadians plan to increase their use of wearable technology and associated apps over the next 12 months.
The level of excitement and anticipation around what wearable technology has to offer is interesting. Eighty-two percent of Canadians agree that wearable technology has the potential to positively transform both their own personal health and public health services as a whole.
Indeed, wearable technology is no longer seen as just a way to monitor physical activity, general fitness, or sleep patterns. The health benefits consumers most expect from medical technology devices (when available) include: the ability to manage chronic or ongoing health conditions, identify and reduce the spread of infectious diseases, manage sexual health and fertility and identify early warnings. signs of life-threatening diseases or conditions (such as cancer).
The digital experience must be flawless in the race for innovation and growth
While there is currently a huge sense of opportunity in the wearable technology sector, research has revealed a pressing need for technology vendors and digital health app owners to prioritize user experience. It may seem like consumers just can’t get enough of wearable technology, but attitudes and behaviors can quickly change, especially when it comes to digital apps and services.
After two years of people becoming totally app-dependent in many areas of their lives during the pandemic, expectations for digital experiences have skyrocketed and consumers simply won’t tolerate underperforming technology.
The risks of a poor digital experience are even higher when it comes to wearable technology and digital health apps, where data can be highly sensitive and consumer reactions can be stronger and more emotional. People expect companies offering wearable technologies and applications to demonstrate a higher level of protection for their personal data than any other technology they use.
Alarmingly for wearable tech providers and digital health app owners, 73% of Canadians say they would stop using a specific wearable device or app if they had just one bad digital experience, and up to 51% of Canadians report a poor digital experience. with a wearable device or app would deter them from trying other wearable health or wellness technologies.
This is the high-stakes environment in which vendors operate, with massive opportunities for customer and revenue growth offset by the very real risk that a mistake in user experience could cause customers to leave.
What makes a bad digital experience with wearable technology?
When it comes to what constitutes a digital experience with wearable technology, consumers clearly know what they simply won’t buy into. At the top of the list are wearables and health apps crashing, followed closely by slow runtimes and unresponsive pages or features.
There are also privacy and data security concerns, which you would expect when the personal information captured, analyzed and shared may be sensitive. People want real-time access to accurate health data and they want to be able to share their data with friends and family. This is considered essential to have a good user experience.
But at the same time, consumers have zero tolerance for brands that fail to protect the privacy and security of their data. In fact, 88% of Canadians say trust is a critical factor when choosing a wearable medical device or app brand. Other digital experience issues include battery drain, poor connectivity, problems downloading or installing apps, difficulties with the login process, and issues with payment processing.
Unified IT performance visibility is key to avoiding digital experience pain points
Brands in this space need to do everything possible to deliver the brilliant and seamless experiences that customers are now demanding. And to do that, they need to make sure their technologists have access to the tools and data they need to manage and optimize IT performance and availability at all times.
This means having real-time, unified top-to-bottom visibility of the computing stack, for compute, storage, networking, and the public internet, from the customer-facing application all the way deep into the back-end. Full-stack observability allows technologists to identify and address issues before they impact end users, and when this technology performance data is connected to business outcomes, it allows them to prioritize potential issues. harm the customer experience.
Over the next 12 months, we are expected to witness phenomenal growth in the wearable technology market, with a dramatic increase in the adoption of new devices that help people manage and improve almost every aspect of their health and well-being. welfare. While the opportunities for brands are nearly limitless, we must remember that this exciting future ultimately depends on app providers ensuring they deliver exceptional digital experiences at all times.