Smart wearable device industry briefing: Apple still rules the smart watch market

Smart wearable device industry briefing: Apple still rules the smart watch market

Smart wearable device industry briefing: Apple still rules the smart watch market

At the Apple New Product Launch on September 7, in addition to the new iPhone 14 series, the much-anticipated new generation of AirPods and Apple Watch products were also officially launched. From the terminal response, consumers are not less enthusiastic about smart wearable devices. At present, Apple Watch Series 8 and Ultra are out of stock, and the waiting period for orders ranges from half a month to one and a half months.

In the field of related smart wearable devices, Apple has always had a dominant performance. C&T combined with third-party smart wear market data to make in-depth research and make data combing of segmented smart watches, so that brands can have a clearer judgment on the development of smart wear market.

1. Global smart wear market demand is growing strongly

Global smart wearable device shipments in 2021

From 2017 to 2021, the global wearable device revenue scale grew year by year, from $34.905 billion to $55.061 billion. Against the backdrop of market demand and technical support, the global smart wearable devices market is growing in terms of shipments, with 533 million units shipped in 2021, up 20% year-on-year.

The entire market is dominated by TWS headphones and smartwatch devices. Among them, TWS headset shipments occupy a high position, reaching 310 million units in 2021, with a share of 69.02% in the smart wear market; followed by the smart watch market, with shipments reaching 128 million units in 2021, accounting for 28.39% of the market share.

Smart wearable device head enterprise competition is fierce

The global industry concentration of smart wearable devices is increasing, and the market share of the top five manufacturers in terms of shipments has been rising from 55.6% in 2017 to 62.5% in 2021. Among the top five manufacturers, Apple has been sitting on the first place in the world for years, while China’s Xiaomi and Huawei occupy two seats.

2. Apple leads the global smartwatch market

In 2013, the world’s first smartwatch GEAK Watch was launched, and almost at the same time, Apple, Google, Samsung and other technology giants entered the smartwatch market. In just a few years, the market ushered in a period of rapid development. 2021 global smartwatch market shipments grew rapidly to 127.5 million units, with a CAGR of 31.95%.

The global smartwatch market competition pattern is relatively concentrated, with Apple topping the list with 30% market share in 2021, followed by Samsung and Huawei.

3.2022 Q2 smartwatch data briefing

Shipment volume: 41.7 million units shipped in Q2

With the official end of the second quarter, market research reports related to smart watches have emerged. canalys data shows that global shipments of wearable wristband devices reached 41.7 million units in the second quarter of 2022, up 2.0% YoY. The addition of more innovative designs and new features, as well as the continuous improvement of the ecosystem by brand manufacturers, are bringing market growth momentum to smartwatches.

Top 5 Brand Ranking:
Apple Continues to Lead the Market

In terms of specific share performance, Apple continues to dominate the global watch market with over 26% market share, pulling away from second place by 17.5 percentage points. Samsung followed closely behind, overtaking Huawei with a solid 58% growth.

With this impressive sales, the Apple Watch is generating lucrative revenue for Apple. Apple’s Q2 2022 results show that the wearables business, including smartwatches, broke Apple’s quarterly revenue record and became the “third pillar” of Apple’s main revenue stream.

In summary

Despite the challenging market environment, consumer demand remains strong, as evidenced by the solid performance of Apple, Samsung and Huawei. Smartwatches have now become an increasingly dependent tool for many users, and it is expected that the market demand structure for smartwatches will be further optimized and the market size will maintain high growth in the coming years.

3. Consumer demand gives rise to millions of markets for peripheral accessories

As the consumer demand for smart wear gradually heats up, the market of peripheral accessories for smart wear devices is opened, which is also a business opportunity for the majority of brands. At present, the most demanded smart watch accessories are the following categories – smart watch charger, smart watch protective shell, creative strap and so on.

The technical threshold for accessories is much lower than that for smart watches, but the demand quantity has doubled several times. Especially in the European and American markets, which like personalized customization, consumers will be willing to pay an extra premium for their favorite ideas. Here are the new straps & hot strap styles for smart watches in 2022, brands who are developing this market can comment and leave their contact information, we will send you free samples.

2022 new straps & hot straps recommendation.

Milanese Loopback Strap

Fresh Resin Strap

Alpine Loopback Hook Strap

Scratching nylon braided strap

Liquid silicone strap