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In the third quarter, the wearable market in China grew by 7.5 year on year, while the global market grew by 2.6 year on year, setting a record for the highest shipment in the quarter in two years

Time:2023-12-22 Views:376
    The latest quarterly tracking report on China‘s wearable device market released by IDC shows that the shipment volume of China‘s wearable device market in the third quarter of 2023 was 34.7 million units, a year-on-year increase of 7.5%. The overall market continues to grow and is entering a stable recovery state.
The situation of the wearable segment market in China in the third quarter of 2023
    The shipment volume of smartwatch market is 11.4 million units, a year-on-year increase of 5.5%. Among them, 5.59 million adult smartwatches were sold, a year-on-year increase of 3.9%; The shipment volume of children‘s smartwatches was 5.8 million units, a year-on-year increase of 7.2%. This quarter, the adult smartwatch market mainly saw growth in price ranges below 1000 yuan (before tax), while the ultra high end market above 5000 yuan (before tax) tended to stabilize. The price range of RMB 400 to 600 and RMB 1000 to 1500 (before tax) in the children‘s smartwatch market has become a key growth area and an important price range for manufacturers to compete in.
    The shipment volume of bracelets in the market was 3.98 million units, a year-on-year increase of 2.2%. After the promotion in the previous quarter, demand has been released and the growth rate has slowed down.
    The shipment volume of ear wearing equipment in the market was 19.24 million units, a year-on-year increase of 9.8%. Among them, the shipment volume of true wireless earphones was 15.1 million units, a year-on-year increase of 10.6%. Earwear products are rapidly declining towards the entry-level market, and competition among mobile phone manufacturers in this segment will become increasingly fierce.
    IDC predicts that adult smartwatches will grow by 11% in 2024, driven by differentiated product layouts; The children‘s watch market will remain relatively stable; The bracelet will have a significant contraction, with a decrease of over 10%, when demand has been clearly released. Adult smartwatches remain an important driving force in the wrist wear market and will continue to grow with the support of application scenario expansion, product differentiation, and technological innovation.
Global wearable market situation in the third quarter of 2023
    According to IDC‘s latest quarterly tracking report on the global wearable device market, the global wearable shipment volume in the third quarter of 2023 was 150 million units, a year-on-year increase of 2.6%. Despite the moderate growth, this is still the highest shipment volume in the third quarter since 2021. This growth is mainly due to the rapid development of small brands and emerging categories, such as the smaller and more fashionable design category of smart rings, which is gaining widespread attention. In addition, some new brands, such as Oura, Noise, BoAT, Circular, etc., will launch related products to bring freshness to the wearable market while also providing more inspiration and motivation for existing brands in product innovation. Smart glasses products will also experience significant growth driven by manufacturers such as Meta and Amazon.
    IDC China Assistant Research Director Pan Xuefei believes that the wearable market, as an emerging market, has been developing for ten years, and smart bracelets, watches, and ear wear products have all laid an important foundation for its development. This market can maintain continuous progress for ten years, which is closely related to the constantly exploring new product forms, new application scenarios, and technological innovation. There are rich product types and needs to be explored in the wearable market around health and sports. In the future, more manufacturers will still attempt new product forms and introduce new technological features, which will promote the sustained development of the wearable market.
 












   
      
      
   
   


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