Monetisation and Servitisation of Wearable Device-Derived Lived Experience Data to Establish a Community-Centric Wellbeing Ecosystem

Existing healthcare systems are struggling to cope with the rapid increase in mental health diseases. Wearable devices such as smartwatches introduce a new opportunity in this regard. The realisation of this opportunity depends on the engagement of the community in sharing their lived experience data. A health data marketplace is introduced in this regard, where individuals can monetise their wearable device-derived lived experience data by selling it to consumers such as researchers, medical practitioners, and artificial intelligence service providers.