Smart wearable station is a new outlet in the technology industry.
According to the data of canalys, a third-party organization, worldwide, the total shipments of wearable devices in the second quarter of 2021 reached 40.9 million units, a year-on-year increase of 5.6%.
The market scale of 100 billion level has also attracted leading enterprises in the fields of Internet, science and technology to compete. Apple, Xiaomi, Huawei, glory and other manufacturers have entered the game. According to the data of prospective industry research institute, in 2020, China has become the main investment and financing area of wearable devices, with a total of 29 investment and financing events, accounting for about 54.72% of the global investment and financing.
The compound growth rate of intelligent Wearable air outlet in China market is nearly 30%
Intelligent wearable, also known as wearable devices, is the general name of wearable devices developed by applying wearable technology to intelligently design and develop daily wearable products. The product can be in direct contact with the human body to help users listen to or watch content, or it can collect human health information and assist in health sports and medical treatment.
At present, the more common wearable devices include smart headphones, smart watches, smart bracelets, smart glasses, etc., as well as smart clothing and auxiliary medical devices that can be widely popularized in the future, as well as smart organs and implantable chips that may extend human ability.
Under the general trend of continuous updating and iteration of wearable devices, decentralization of new functions and consumption classification, China's wearable device market is maintaining rapid development, and the shipment of wearable devices is increasing year by year.
According to IDC data, domestic shipments of wearable devices increased from 38.76 million units in 2016 to 107 million units in 2020, with an average annual compound growth rate of nearly 30%. In the first half of 2021, China's shipments of wearable devices reached 63.43 million units, an increase of 43.51% over the same period last year.
Globally, for smart watches, IDC expects global shipments to increase from 106 million in 2020 to nearly 200 million in 2025. Apple will continue to dominate this field, not only because of its new iwatch7, but also because of Apple's pricing strategy for other old models; For earphones or smart headphones, IDC expects global shipments to grow strongly from 265 million units in 2020 to 504 million units in 2025, with a CAGR of 13.7%.
Why smart wear is popular? Ding Daoshi, former president of sutu Research Institute, said in an interview with the Securities Daily that first, with the change of consumers' wearing habits, their acceptability is becoming stronger and stronger. Wearable devices are in close contact with the human body, can collect a variety of human data, and provide interactive experience in vision, touch, hearing, health monitoring and so on; Secondly, wearable devices are an extension of mobile phone usage habits. Some functions such as message notification, listening to music and making phone calls no longer need to be realized by mobile phones, which is convenient to use; Third, with the progress of science and technology and the development of Internet of things technology, wearable devices have higher and higher integration, smaller and smaller volume and stronger practicability.
Talking about why he entered the field of intelligent wear, Zhao Ming, CEO of glory, told the Securities Daily, "glory is not limited to the performance of a single hardware and the upgrading of a single intelligent product, but to integrate them and bring users a seamless whole scene experience. Smart watches can make the user experience simpler and the integration and collaboration of terminals more practical and efficient."
Watches, TWS headphones strong growth, bracelets slow growth
Among all wearable products, smart watches, bracelets and headphones account for most of the market share. Other types of products are limited by technology, price, usage habits and other factors, and the market scale is small.
Data show that in the second quarter of 2021, the shipments of basic watches and smart watches reached 25.4 million, a year-on-year increase of 37.9%, and smart watches accounted for 62% of the global wearable watch market. In the category of smart watches, apple is still the number one player and maintains a significant advantage. In the second quarter, Apple's share in the smart watch market was 31.1%; Huawei ranked second, accounting for 9%, while Garmin ranked third with a market share of 7.6%.
"Smart watches can extend the functions that traditional watches and smart phones cannot provide, and complement mobile phones. Compared with traditional watches, they add two core functions: notification and health detection." the relevant person in charge of vivo said that taking health detection as an example, almost every smart watch is equipped with sports data monitoring, heart rate monitoring and other functions.
At the same time, the performance of TWS headphones is still eye-catching. Because of abandoning the traditional wire connection, TWS headphones can make users more free and convenient in talking and listening to music, which is recognized by many consumers. Noise reduction technology is the future technology upgrading direction of TWS headphones. From 2018 to 2020, TWS earphone shipments continued to grow at a compound growth rate of 119%, reaching 220 million pairs in 2020.
According to the data of market research agency counterpoint research, the global shipment of TWS headphones in 2016 was only 9.18 million pairs. With the great success of Apple's air pods, it really detonated the market demand. In 2018, the total global shipment of this product reached 46 million sets, with an average annual compound growth rate of 124%.
In front of the attractive market "cake", batch after batch of manufacturers began to set foot in this field. The growth of TWS earphone market also peaked in 2019, with the shipment volume reaching 129 million pairs, and the annual growth rate reached 183% in the third quarter of that year.
Compared with the first two, although the overall market scale of smart bracelets is large, the growth rate has slowed down greatly. According to the statistics of CICC Qixin, the shipment of smart bracelets continued to grow at an average annual compound growth rate of 23% from 2016 to 2020, reaching 78.9 million units by 2020, and is expected to maintain an average annual compound growth rate of about 5% from 2021 to 2025.
However, it is worth noting that over the past few years, American technology companies, including apple and Amazon, have always wanted to expand their business to the field of health care. For example, Apple released its first Iwatch and healthkit mobile application platform in 2014, revealing its ambition in the field of health business; Google established the health department Google Health in 2018 and has always been its important product department.
However, the health industry of many technology giants has not developed smoothly. For example, haven, a health care project jointly founded by Amazon, Berkshire Hathaway and JPMorgan Chase, has failed and declared its closure. Fitbit, a wearable device manufacturer, has been acquired by Google. Google is dissolving its three-year-old health department. Apple is also said to be reducing the project scale of the health department.
The three giants account for 60% of the market share, and smart wear has broad prospects
According to the quarterly tracking report on China's wearable device market in the fourth quarter and the whole year of 2020 released by IDC data agency, Huawei, apple and Xiaomi occupy 60% of China's market share. The equipment shipments of the three giants in a single quarter are more than 5 million units, far ahead of other enterprises.
Insiders pointed out that under the application of artificial intelligence such as 5g, big data and cloud computing, the wearable device market with smart watches and wearable headphones as the core will be more prosperous. Last year, Huawei, Bose and other large manufacturers successively launched glasses type intelligent earphones. This intelligent wearable device integrating hearing, vision and body feeling will lay a foundation for the combined development of multimodal and VR / AR devices in the future.
In the case of intensified market concentration, the pressure of small and medium-sized enterprises in the field of wearable devices has doubled.
"Before 2020, these small and medium-sized manufacturers will break away from the highly competitive Chinese market, manufacture the cheapest goods at the lowest cost and export them to Southeast Asia and other countries, and quickly open the market locally. As the competition pattern in the domestic market becomes clear, these big brands and e-commerce will also quickly layout in the overseas market, leaving little living space for small and medium-sized brands." The above industry insiders said.
In an interview with the Securities Daily, an industry expert said that 2020 is an obvious watershed in the industry. A large number of small and medium-sized enterprises have made a lot of money before and left decisively. The remaining enterprises that failed to get out in time are now squeezed by the two camps of brand and e-commerce.
"Now the wearable market is very competitive, and there has been a price war in some fields. In this case, big manufacturers have obvious advantages." Ding Daoshi admitted.
On October 24, Yu Chengdong, CEO of Huawei's consumer business, issued a document on the social platform, saying that many consumers have always chosen Huawei's wearable products to understand their health data, and have made continuous demand breakthroughs in hardware, scientific computing platforms and services. According to the latest official data of Huawei, as of September 2021, Huawei's shipments of intelligent wearable devices ranked first in China, and the cumulative global shipments have exceeded 80 million.
Wang Youfei, general manager of vivo intelligent terminal, told the Securities Daily, "Take TWS earphones as an example. As the first enterprise to focus on the research and development of music mobile phones and hi fi mobile phones, vivo has always been committed to creating professional sound quality experience for consumers, and its products have been recognized by the market. We have established golden ear acoustic laboratory. The members of the laboratory come from different departments within vivo, with professional music background, professional technical background and electronic technology research Backgr
ound, they gathered together to focus on professional acoustic research, including the spatial sense of sound field, the emotional and pronunciation image of human voice, the analytical power of sound and the transient performance of low frequency. "
He Chen, an analyst at Caixin securities, pointed out that wearable devices are more likely to become an extension of mobile phones in the future, with richer functions such as voice call, health monitoring, intelligent payment and scientific sports; secondly, wearable devices will become a better data portal and provide more data and value for terminal manufacturers.
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