Smart Watch Future Development Trend
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The future trend of smartwatches is expected to continue to grow, especially in emerging markets.
According to TechInsights' report, The global smartwatch market, after experiencing its first annual sales decline in 2023, is expected to achieve 5% year-over-year growth in 2024, and maintain a steady growth trend in the following years.
The compound annual growth rate of the global smartwatch market is expected to remain above 7% through 2026. The growth is expected to be driven by the technology sector, the traditional fashion industry and watch giants, and new market entrants such as China and India. The fastest growing regions include the Middle East and Africa, Central and Eastern Europe, and Asia Pacific, where CAGRs are expected to range from 8% to 10%.
1. In addition, as the mass consumption willingness of smart phones becomes weak, replacement cycle continues to lengthen, smart wearable device has become the latest focus of major terminal manufacturers. smart watch as an important part of smart wearable devices, its market performance has also been widely concerned. From "beautiful waste" to "beautiful good thing", smartwatches are moving in a more mature and practical direction. includes the continuous innovation of hardware and software, and continuous innovation in design, components, industry chain, makes smart watches in the fashion degree has not lost to fashion brand.
2. Market analysis by region, price segment, brand share and model performance shows that the total global sales volume of smartwatches in the Q1 of 2024 was 33.29 million, decreased from the previous quarter, increased by 11% compared with the same period last year. In terms of price segment, premium brands (300+ USD) occupied the major part of the market, while Apple, Huawei and Samsung took the top three positions with a combined share of over 64% of the global market. These data show that smart watch market is facing some challenges, but on the whole still maintains a positive development trend.
3. To sum up, the future development trend of smartwatches is expected to continue to grow, especially in emerging markets and high-end brands. With the continuous progress of technology and the continuous growth of market demand, smart watch is expected to become a more mature and practical product.
