CCB Beijing, October 19, according to a report released today by research firm Strategy Analytics, global smartwatch sales will increase by 17% year-on-year in 2022, with a compound annual growth rate of 10% between 2021 and 2027.
Although the smartwatch market saw sales stagnation for the first time since 2016 in the second quarter of 2022, the latest research shows that smartwatch sales will grow by 17% annually during 2022, according to the report.
Strategy Analytics expects this strong growth momentum to continue through 2027, equivalent to a 10 percent compound annual growth rate between actual data in 2021 and projected data in 2027.
In addition, the report states that the market is somewhat concentrated, with more than three-quarters of sales coming from the top ten countries alone, and this share remains stable throughout the forecast period. By targeting countries such as China, the US, India, the UK, Indonesia, and Brazil, smartwatch suppliers will be able to reach the largest current and future pool of smartwatch buyers.
Since most smartwatch buyers are still first-time buyers, pioneers like Apple and Samsung have an advantage in making their smartwatch offerings compelling. However, market competition is becoming more and more intense, especially in the low-cost market, and new entrants, mainly in the Chinese market, are bringing their products to the market, which also provides users of fitness bracelets and functional watches with an affordable upgrade path. .Return to Sohu, see more
Post time: Oct-21-2022
