Smart bracelets, which can be used to monitor daily exercise and are popular among sports fans and fitness enthusiasts, are quietly changing their form to smart watches with dials and virtual hour hands, and social and payment functions are becoming standard for such smart wearable devices.
According to a market research firm Gfk, the Chinese smart wrist wear market has maintained year-over-year sales growth, with sales expected to reach 43 million units in 2022, a slight decline of 3% year-over-year, but sales are expected to grow 15% year-over-year.
Focusing on adult wrist wear (including smart watches and smart bracelets), it is expected that the sales share of adult smart watches can reach close to 70% in 2022; in terms of the number of new models on the market, the number of new models on smart watches has also far exceeded that of smart bracelets so far in 2021, indicating that manufacturers' asset investment is increasingly tilted towards smart watches.
Functionally, in the daily scene, adult smart wrist wear will continue to strengthen the hardware and software capabilities, and build the map ecology and wallet ecology in terms of ecology; in the sports scene, it will continue to develop sports and health apps to build a sports and health platform.
In terms of price, with the joint development of multiple categories, the market price point selection of adult smart wrist wear will be more abundant, with the price segment below 200 yuan dominating the market in 2018, while by the first half of 2022, the combined share of the price segments from 200 yuan to 350 yuan and above 350 yuan will have exceeded 80%.
Children's smart watches are also a recent hot topic. In terms of functionality, parents are more concerned about safety issues. In addition to the collection and use of data and the application of biometric identification technology to be managed better, the safety of the network environment for minors is always a pain point for children's smart devices. In the future, manufacturers should develop products around consumers' safety demands for children's watches, and expand the assistant function on this basis and continue to strengthen the sports health monitoring function.
Post time: Sep-28-2022
