China’s Wearable Device İndustry in 2020…

With the gradual rise of the global wearable device market, wearable device shipments continue to grow. China’s wearable device market is also experiencing rapid growth. In 2019, wearable device shipments reached 99.24 million units, a year-on-year increase of 35.6%. Among them, smart wearable devices account for only 18%, and there is still a lot of room for enterprise development. In the third quarter of 2020, the market share of wearable devices such as Huawei watches, true wireless headsets, Bluetooth headsets, and bracelet products has increased significantly, making Huawei’s wearable device shipments overwhelming Xiaomi and Apple to rank first. After the wearable computing system platform and big data service platform have been built, there is still much room for the development of smart wearable devices. Market competition will become more intense, and companies may compete in smart wearable devices in the future.

wearable device, that is, a portable device that is directly worn on the body or integrated into the user’s clothes or accessories. Wearable devices are not only a kind of hardware device, but also realize powerful functions through software support, data interaction, and cloud interaction. Wearable devices will bring great changes to our lives and perceptions.

The product forms of wearable devices mainly include smart glasses, smart watches, smart bracelets, etc. Wearable devices connect to the Internet and combine with various software applications to enable users to perceive and monitor their own physiological conditions and surrounding environmental conditions. They can quickly view, reply and share information without manual operations. Its functions cover health management and sports Measurement, social interaction, casual games, audio-visual entertainment, positioning navigation, mobile payment and many other fields.

Smart wearable devices account for 18%

With the gradual rise of the global wearable device market, wearable device shipments continue to grow. China’s wearable device market is also experiencing rapid growth, and the Chinese market has gradually become the core of the global wearable device market. China’s wearable device shipments continued to grow. In 2019, my country’s wearable device shipments reached 99.24 million units, a year-on-year increase of 35.6%, a large increase. Although the new crown epidemic in 2020 will have a certain impact on the consumer market, it only achieved a decline in the first quarter, and then quickly recovered and still achieved growth. In the first three quarters of 2020, 77.13 million units were shipped.

Chart 1: 2015-2020 Q3 China’s wearable device shipments (unit: 10,000 units, %)
Wearable devices can be divided into basic wearable devices and smart wearable devices, and basic wearable devices still occupy most of the proportion. Shipments of basic wearable devices (wearable devices that do not support third-party applications) in the first three quarters of 2020 were 63.26 million units, accounting for 82%, and smart wearable device shipments were 13.88 million units, accounting for 18 %.

Chart 2: China’s wearable device product structure in the first three quarters of 2020 (unit: 10,000 units, %)
With the update and development of technology in recent years, smart wearable devices have continued to develop, but for now, there is still some time for the rapid development of its market share. During the first quarter of 2020, smart wearable device products were severely affected by the epidemic, and shipments fell by 33.3%, a significant drop. In the third quarter of 2020, the shipment of smart wearable devices was 6.77 million units, an increase of 10.6% year-on-year, which was lower than the 16.6% growth rate of basic wearable devices.

Huawei beats Xiaomi and Apple to rank first

From the perspective of the top 5 manufacturers of wearable device shipments, in the third quarter of 2020, Huawei ranked first with 9.414 million units shipments, with a market share of 28.6%, and shipments increased by 60.5% year-on-year.

In 2020, the reasons why Huawei’s wearable device shipments have been ranked first include its wearable devices, the market share of watches, true wireless headphones, etc. has increased significantly, which has consolidated its top position in the overall wearable device market. For example, in the first quarter of 2020, Huawei’s adult watch market shipped 1.045 million units, more than the total of the last four, with a market share of 47.8%.

In addition, with the sports watch GT2 and true wireless earphones Freebuds 3, Freebuds 4 and FreeBuds Pro, Huawei’s market share in watches and Bluetooth earphones has increased significantly. In terms of wristband products, Huawei launched TalkBand 6, pushing its wristband product line to a new high. Not only did Huawei GT series maintain its strong performance as always, Honor Watch also achieved remarkable results with the promotion of new products and the follow-up of offline channels. increase.

Chart 4: China’s top 5 wearable device manufacturers shipments in Q3 2020 (unit: 1,000 units)
In the third quarter of 2020, in the Chinese wearable device manufacturer market, Huawei’s market share accounted for 28.6%, and Xiaomi’s market share reached 22%. Apple accounted for 17.8%. Huawei overpowered Xiaomi and Apple to rank first.

Figure 5: Market share of Chinese wearable device manufacturers in Q3 2020 (unit: %)
In the future, with the completion of the main smart wearable computing system platform and big data service platform, downstream equipment manufacturers will reshuffle, service products based on health big data will gradually mature, product differentiation will increase, and the wearable market scale is expected to remain relatively high With speed growth, smart wearable devices still have a lot of room for development. Market competition will become fiercer, and in the future, companies may compete in smart wearable devices.

For more data, please refer to the “Analysis Report on Market Outlook and Investment Strategic Planning of China’s Wearable Device Industry” issued by Qianzhan Industry Research Institute. At the same time, Qianzhan Industry Research Institute also provides industrial big data, industrial planning, industry declaration, industrial park planning, and industrial investment promotion. Solutions such as investment attraction.