STUDY: 25% of Consumers Plan to Own a Smart Watch in Next Five Years; Wearable Adoption on the Rise

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As Apple is rumored to announce today the launch of a new smart device – the iWatch – discussion of consumer adoption of smart IoT (internet of things) devices, such as wearable devices, comes to the forefront.

And with good reason – Acquity Group, part of Accenture Interactive, found in a recent study that adoption of wearable IoT technology such as smart watches and fitness devices is on the rise, with nearly half of consumers already owning or planning to purchase a device in this category in the next five years. The study also found:

-- Among IoT wearable technology, wearable fitness applications are expected to see the fastest rate of adoption in the next five years, with 13% of consumers planning to purchase devices within the next year

-- By the end of 2015, wearable fitness applications are predicted to see a total of 22% adoption (including those who already own a device), with a total of 43% looking to adopt in the next five years

-- Smart watches will be the second most popular wearable device, with 5% of consumers planning to purchase in the next year for a total of 8% adoption by the end of 2015 and a total of 25% planning to own in the next five years

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