Half of wearables customers abandon their device within six months of purchasing it, according to a survey conducted by Acquity Group, with 21% saying they found their device too complicated to use, and 24% saying their devices do not work as advertised. 8% of the worldwide population now own a wearable device, with 40% planning on buying one over the next five years. Despite strong compound growth, a variety of issues continue to plague the sector, including the blurred lines between consumer and medical devices. Many companies are reluctant to go through the often-challenging and lengthy process of getting their devices certified by regulatory agencies such as the US FDA, with most wearables-makers opting for the consumer route.
Half of wearables customers abandon their device within six months of purchasing it, according to a survey conducted by Acquity Group, with 24% saying they found their device too complicated to use, and 21% saying their devices do not work as advertised. 8% of the worldwide population now own a wearable device, with 40% planning on buying one over the next five years. Despite strong compound growth, a variety of issues continue to plague the sector, including the blurred lines between consumer and medical devices. Many companies are reluctant to go through the often-challenging and lengthy process of getting their devices certified by regulatory agencies such as the US FDA, with most wearables-makers opting for the consumer route.