New research shows the wearable technology market, which includes devices such as Fitbit and Jawbone UP, grew 32% to 52 million devices sold in 2014. Additionally, 74 million devices are expected to ship in 2015, a 44% growth rate from 2014. The acceleration in growth highlights how wearable devices continue to move into the mainstream, and although some of this growth is attributed to employer-sponsored devices, the vast majority of purchases are made directly by consumers. If you are interested in learning about what types of consumers are purchasing devices (age, gender, income, etc.), check out our blog post that breaks this information down in an infographic.
This consumer-led movement is why having a BYOD wellness strategy is so important. It allows employers to benefit from a consumer trend, which results in higher engagement and more affordable wellness programs, and allows employers to benefit from the rise in free mobile health and wellness apps that are competing against wearables.