Practical technologies drive product adoption more than novelty factor, according to research from Havas Labs and the Guardian
Adoption of emerging technologies is driven by technology that is practical in terms of saving time, saving money or heightening safety, according to research from Havas Labs and the Guardian Media Group.
While entertainment, connectivity and novelty factors play a role in enticing consumers to new technologies, practical technologies tend to be the main drivers for product adoption, with 72 per cent of respondents interested in using them.
Within that, managing finances is one of the key motivators for consumers interested in emerging technology, with the study finding that over three-quarters (79 per cent) of UK adults are interested in technology that helps them to manage and save money. Technologies that help people save time or have a security focus are also likely to be key drivers for the majority of individuals surveyed.
Using Geoffrey Moore's technology adoption cycle, the research split consumers into five segments when it comes to propensity towards technology. Of these, technology enthusiasts and visionaries represent the early market adopters, while pragmatists, conservatives and skeptics represent the mainstream market.
Despite the hype around smartwatches, they have failed to penetrate the mainstream market with fewer than three million sold globally in 2014. 88 per cent of those surveyed were aware of smartwatches prior to the research, yet two thirds aren't open to the idea of owning one.
However, the study found that for those who were open to the idea of owning a smartwatch, over a third (35 per cent) saw it as a natural progression of watch wearing – i.e. they already own a watch and they view this as the next step. The most cited attraction of owning a smartwatch was trying out a new gadget (39 per cent) while 33 per cent cited the accessibility of important information as an attractive reason to own one. Just 19 per cent felt they looked "cool", suggesting fashion isn't as strong a motivation, while payment was the least popular reason cited for interest in smartwatch ownership (15 per cent).
When it comes to data sharing, those who own wearables are almost twice as likely as the average adult to share their data with private companies, with one in four smartwatch owners willing to share health and fitness data with insurance companies and allow push notifications from brands to alert them to offers.
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