Wearable Device Market in China Experiences Mixed Results in Q3 2022, but IDC Predicts Restorative Growth for Smartwatches in 2023

According to a recent report from IDC, China's wearable device market saw a year-on-year decrease of 8.4% in shipments in the third quarter of 2022, with a total of 32.29 million units shipped. While the ear-worn equipment market saw a significant decrease, with a 12.1% year-on-year decline in shipments and a total of 17.53 million units shipped, the smartwatch market experienced growth, with a 1.8% year-on-year increase in shipments and a total of 10.8 million units shipped. The bracelet market also saw a decline, with a 15.6% year-on-year decrease in shipments and a total of 3.89 million units shipped.

IDC predicts that the smartwatch market for adults will experience restorative growth in 2023, with shipments increasing by 3.5%. Market opportunities are expected to arise as economic and social activities gradually return to normal, driving demand for outdoor sports, business activities, and personal travel, among other things. In addition, the increasing maturity and widespread use of health sensor monitoring technologies will provide more room for the expansion of functional scenarios for smartwatches and stimulate consumer demand.

However, the smartwatch market will still face several challenges in 2023, including the impact of channel management on shipments, the need for product innovation to drive demand, and the need to effectively target the right audience with product positioning.

Within the smartwatch market, there was a 13.3% year-on-year increase in shipments of smartwatches for adults, with a total of 5.38 million units shipped. However, shipments of smartwatches for children saw a 7.6% year-on-year decrease, with a total of 5.42 million units shipped. Apple's new product release is believed to have had a significant impact on the adult smartwatch market, while Xiaotiancai remained the top player in the children's smartwatch market.

The decline in the bracelet market is thought to be due to the diminishing marginal effect of entry-level wristband products and the increasing acceptance of watch products by the public. However, the wristband market is expected to continue to exist for the long term and play a role in introducing new wristband products to the mass market. The trend towards large screens in wristbands is also becoming more apparent. The new Xiaomi bracelet is believed to have played a role in increasing the scale of shipments in this market.

The decline in the bracelet market is thought to be due to the diminishing marginal effect of entry-level wristband products and the increasing acceptance of watch products by the public. However, the wristband market is expected to continue to exist for the long term and play a role in introducing new wristband products to the mass market. The trend towards large screens in wristbands is also becoming more apparent. The new Xiaomi bracelet is believed to have played a role in increasing the scale of shipments in this market.

The Bluetooth headset market as a whole is undergoing an intelligent transformation, but this process is being slowed by fierce price competition and the maturity of upstream solutions. As a result, the active noise reduction function of true wireless earphones has declined, leading to a diminishing marginal effect on market demand.

Overall, the mixed results in China's wearable device market in Q3 2022 show that different segments of the market are experiencing different levels of success. While the smart watch market saw growth, both the ear-worn equipment market and the bracelet market saw declines. IDC's prediction of restorative growth for the adult smartwatch market in 2023 suggests that there may be potential for recovery in the wearable device market as a whole. It will be interesting to see how the market develops in the coming quarters and whether manufacturers will be able to find ways to revitalize demand for their products.

Post a Comment

0 Comments