The global wearable wristband market hits new highs, with global shipments growing significantly in the second quarter of 2023

According to news on September 19, the wearable wristband market has ushered in a new growth momentum after experiencing two quarters of decline. According to the latest report released by the well-known analysis agency Canalys, in the second quarter of 2023, global shipments of wearable wristband devices reached 44 million units, a year-on-year increase of 6%.

According to my understanding, this growth trend is mainly due to the excellent performance of various types of wearable devices. First of all, basic watches still maintain strong growth momentum, accounting for nearly half of the market, up to 46%. This performance is due to the joint efforts of Indian manufacturers and leading smartphone manufacturers, including Huawei, Xiaomi and Huami. Basic watches continue to maintain a staggering 73% growth in the Indian market by the second quarter of 2023, injecting vitality into the entire market

On the other hand, despite the basic bracelet market It declined slightly last year, but still maintained a stable market share, accounting for approximately 19% of the total market. This is mainly because basic wristbands are affordable and consumers are still cautious about alternatives to high-priced wearable devices. In the watch field, driven by basic watches with high cost performance, double-digit The growth was mainly driven by these watches. Various manufacturers have launched a series of new products to increase their market share. For example, Xiaomi and Huawei have released affordable basic bracelets and watches to meet different types of consumer needs. Indian manufacturers are also following suit, such as the Noise brand, which has launched entry-level models and launched products in various price ranges to meet the needs of a wider range of customers. Fire Boltt has further reduced its price to provide consumers with an excellent user experience at an average selling price of less than US$19

Market development has also prompted manufacturers to segment more clearly Market development trends to improve competitiveness. Now, consumers can find not only affordable entry-level products, but also high-end products with more features. As screen technology continues to advance, the audience for smart wearable devices is also expanding. At the same time, high-end manufacturers are focusing on enriching product features and providing added value, which has also led to an increase in average selling prices. Cynthia Chen, research manager at Canalys, said: "Despite the current economic challenges, wearable The device still has long-term prospects." Canalys predicts that the wearable wristband market will continue to grow at an average annual growth rate of 4.1% until 2027, driven by shifts in consumer demand. This trend suggests that wearable technology will continue to thrive in the future, providing consumers with more choice and innovation.

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