The rapid development of the Internet has led to the rapid development of a number of related industries, including technology, electronic consumer products due to closer to the lives of the general public the most rapid development. Such as cell phones, computers and other end-products have become an indispensable part of the daily life of many people in the office, and centered on its market segments headphones, speakers, smart watches/bracelets and other products in recent years is also very hot.
The advancement of technology is driving the continuous upgrading of consumer electronics. With the generation and application of new concepts such as smart life and Internet of Everything, in the next decade, mankind may fully enter the era of intelligence, and the market will usher in many new opportunities. The upgrading of electronic consumer products will further enrich and facilitate people's daily life.
The smart wearable market is the new growth point of the electronic consumer market in recent years, in which the sales of TWS headphones, smart watches/bracelets, smart glasses and other products continue to grow rapidly. And with the upgrading of people's consumption and the transformation of health concepts, this growth trend will continue to expand in the future, becoming a new "blue ocean" in the electronic consumer market.
This time, I love audio network will share the current situation of the smart wearable market in detail, as well as the development of smart watches as the most important smart wearable products and development opportunities.
First, the current situation of the smart wearable market
1, what is smart wearable?
Intelligent wearable devices is a broad generalization of the word, is the application of wearable technology to the daily wearable products for intelligent design, the development of wearable devices in general. The products can be used in direct contact with the human body to help users listen to or watch content, or to collect human health information to assist in healthy exercise and medical treatment.
These include headphones, wristbands, and eyeglasses, as well as smart clothing and medical devices that are not widely available, and smart organs and implantable chips that may extend human capabilities in the future. The smartphone can be connected to a smartphone or the cloud for data interaction, allowing for a wide range of features to be realized.
2. Smart Wearable Market Development
The AMC model of China's smart wearable device market given by the Shenzhen Smart Wearable Industry Association shows that, in 2006, smart wearable products entered the exploration period and began to explore user needs, try the product form, and build the software ecosystem.
The most sensational thing in this period is Google Project Glass, the AR augmented reality glasses released by Google in 2012, followed by 2 generations of products. The future of science and technology sense of the appearance of the design and the new interactive experience instantly triggered the market, but due to the immaturity of the technology, the product in the subsequent use of the process of shortcomings gradually exposed, ultimately leading to the third generation of products "difficult to produce".
In 2016, the market entered the start-up period, the main smart wearable computing system platform and big data service platform is built, based on the health of big data service products gradually mature. With the release of Apple's smartwatch Apple Watch, the square dial product form has created a huge difference with the traditional round watch, attracting more consumers. And with the subsequent product GPS, cellular data, and health monitoring and other functions of the application, led to the rise of the smart watch market.
Into the last few years, smart wearable products ushered in a period of rapid growth, in which the relatively low-tech TWS headset has become the most important point of strength, sales have risen year after year. And with the addition of active noise cancellation and other features, it has been recognized by more people and has become the main growth rate of consumer electronics in recent years.
Smart watches, smart bracelets, smart glasses and other categories of products also maintain the momentum of growth. Among them, the combination of smart watches/bracelets and sports health monitoring functions has formed a unique differentiation feature and become a sought-after product by many young people. It is widely recognized that the smart wearable market will be the main direction of development in the future.
3. Smart Wearable Future
Currently, smart wearable products, due to the limitations of the product volume, the vast majority of the products need to be connected to cell phones, PCs and other terminal equipment, so as to achieve the application of various functions and data processing.
However, smartwatches have the advantage of being relatively large compared to other smart wearable products, and can carry more firmware configurations. The touch screen makes human-computer interaction more convenient and intuitive, and its wrist-worn usage is also easier to control. As smartwatch technology continues to advance, the product is moving towards standalone use.
After becoming an independent terminal product like a cell phone, smartwatches may gradually develop into the center of smart wearable devices, assuming the data processing and cloud interaction of other smart wearable products, and becoming multimedia access ports, making them more convenient for users.
Second, the smart watch or will become the center of smart wear
1, smart watch introduction
Smart watch is a watch with information processing capabilities, in line with the basic technical requirements of the watch. The logic of using a smartwatch is more inclined to a cell phone. Compared to a traditional watch, in addition to having the ability to view the time and date, it also has an independent operating system, a data processing center, and a large number of sensor units, which can realize functions such as health and exercise detection, checking information, and answering phone calls.
The current smartwatch market can be divided into three categories based on their functionality: smartwatches for children, smartwatches for adults, and smartwatches for the elderly. According to the form of product data interaction, can be divided into Bluetooth version, Bluetooth / WiFi version and cellular data version of three categories.
Among them, the children's watch mainly focuses on children's safety, with voice calls, multiple positioning, a key to help, remote listening and other functions; adult human watch is the main message reminder, music playback, sports and health monitoring functions; the old man's smartwatch focuses on convenient manipulation, health monitoring and intelligent reminder.
The Shenzhen Smart Wearable Industry Association's survey report on the distribution of the most popular smartwatch features shows that health monitoring, call and sports management are the most popular features of smartwatches, with popularity reaching more than 60% in the survey.
2. Smartwatch development
Market sales
The current smart wearable market, in addition to TWS headphones, smartwatches are the other major product sales growth, and with the continuous enrichment of the function, battery life, and performance enhancement, sales have been growing rapidly year by year. rapid growth year by year.
Market research organization CCS Insights data report shows that in 2020, the overall global smartwatch/bracelet shipments were 193 million, an increase of 24% year-on-year. Among them, smartwatch shipments reached 115 million, accounting for about 60%. And it is predicted that by 2025, smartwatch shipments will reach 258 million units. This is still only knowable brand product shipments, the full shipments will far exceed this figure.
The current smartwatch shipments market share of Apple Apple Watch is far ahead, Huawei shipments in 2019-2020 growth rate is huge, the current sales are in the second place, Samsung, Fitbit, Huami and Garmin followed.
Smartwatch industry chain and key technologies
The smartwatch industry chain is similar to that of smartwatches, with the upstream mainly including the main control chip, sensors and algorithms, batteries, screens, etc.; the midstream including industrial design and process, software and hardware solution providers; and the downstream is the suppliers and terminal brand manufacturers contacted by consumers.
At the key technology level, it mainly includes R&D and design capabilities, interconnectivity and algorithms. Currently, smartwatches are very mature in terms of heart rate and blood oxygen monitoring. Algorithms have many manufacturers continue to follow up and upgrade, and the accuracy continues to improve. In the smart watch, cell phone APP and cloud data interaction has also been relatively perfect.
But new health monitoring features such as ECG, temperature, blood pressure, and blood glucose are still only supported by a few products, and the data is not accurate enough to analyze changes in physical conditions through fluctuations. The other side of the equation is battery life. Due to the size of the watch and the limitations of the battery technology, with so many 24/7 monitoring features, the products that can achieve more than 3 days of battery life are not bad at all.
Smartwatch Market Opportunities
Smartwatches, as a fast-growing emerging market, have a lot of shipments to Apple and Huawei, but compared to the market volume, the future still has a very promising development potential.
For many other new smartwatch brands, as smartwatches are still in the early stages of development, enterprises engaged in this industry chain are basically in the same starting line except for the head of a few, standing in the industry chain we mentioned above and the key technology enterprises, will usher in a new opportunity for development.
On the other hand, in addition to its rich functionality, the smartwatch also has a strong decorative role as a traditional watch. Therefore, product design and product texture are also very important points for smartwatches, and the ability to realize a highly differentiated product appearance can also be recognized by the market.
Three, Shenzhen Smart Wearable Industry Association
Shenzhen Smart Wearable Industry Association was founded in August 2015, is the official certification of the domestic smart wearable association, the member units cover the field of smart wearable finished products manufacturers, programmers, chip manufacturers, high-quality supply chain vendors and other more than 300 well-known enterprises in the industry.
The association continues to organize enterprises, universities and research institutions around the key issues of industrial technology innovation, technical cooperation, breakthroughs in industrial development of core technologies, the formation of industrial technology standards.
To establish a public **** technology platform, realize the effective division of labor and rational connection of innovation resources, implement intellectual property rights **** enjoyment; implementation of technology transfer, accelerate the commercialization of scientific and technological achievements, and enhance the overall competitiveness of the industry.
Jointly cultivate talents, strengthen the exchange and interaction of personnel, and support the effective enhancement of the core competitiveness of the industry. We hope that more enterprises in the field of smart wearable will join the association*** to build a smart wearable ecosystem.
On July 29, 2021, the "2021 China Smart Wearable Summit" was successfully held with the support of 42 high-quality supply chains, service providers, and brands in the industry, and more than 2,000 fans signed up, including relevant procurement personnel, digital enthusiasts, and those who are optimistic about this market and are ready to enter.
The summit also had the honor of inviting 17 big names in the industry to share the theme of smart wearable. Among them, Zheng Yi, president of Shenzhen Smart Wearable Industry Association, shared the current market status and future development trends and opportunities in the smart wearable field with the theme of "Smart Wearable Development Trends and Product Dynamics".
Fourth, I love audio network summary
Smart wearable devices is one of the main growth points of the technology electronics consumer market in the next few years, many manufacturers have begun to layout. In the current market, TWS headset products have become the main force of sales growth, due to the continuous improvement of the function and performance, as well as the need for the relevant technology is relatively small, the rate of product replacement is faster, further promoting the rapid growth of its sales.
Smartwatches occupy an important position in the smart wearable market, and sales continue to grow. Smartwatch independently operated system, data processing capabilities, and screen and sensor configuration applications are towards the development of a small cell phone, the future in addition to its own continuous enrichment of the function, or will occupy the center of the smart wearable device position.
From the perspective of the overall smart wearables industry, the potential for future development is huge, and the types of products that can be tapped into are extremely rich, and the application of new features is also in the development stage. At present, the threshold of entry into the field of smart wearable is relatively low, and various enterprises are basically on the same starting line. Therefore, who can first make breakthroughs in product industrial design, key technologies, hardware and software solutions, as well as later user services, will dominate the smart wearable market in the future.