Wearable device mainly refers to a portable device that can be worn directly on the body or integrated into the user’s clothes or accessories. Wearable devices, with their advantages of portability, wearability, low cost and low power consumption, have become the hot products of smart terminals in recent years, and are growing rapidly.
Wearable Equipment Industry Analysis
With the development of social economy and the improvement of per capita disposable income, the purchasing power of residents has gradually increased. Good economic environment has promoted the popularization of smart wearable products in China and helped the development of smart wearable device industry in China. The technical level of China’s smart wearable device industry continues to improve,The development of components, operating system and development platform provides technical support for the development of the industry. The data shows that from 2016 to 2020, the market scale of wearable devices in China increased from 14.79 billion to 55.92 billion yuan.
According to the report “2021-2025 China Wearable Equipment Industry Panoramic Survey and Investment Trend Forecast Report” by China Research Institute of Industry.
At present, the main wearable products on the market have different shapes,mainly including smart glasses, smart watches, smart bracelets, mind control,healthy wearing, somatosensory control, item tracking and so on. Among them,medical care, information entertainment and sports health are hot spots. In terms of product functions,Interconnection (NFC, Wifi, Bluetooth, wireless),human-computer interface (voice, somatosensory), sensing (bone sensing, face recognition, geographic positioning, various sensors) are essential functions of this kind of products. From the perspective of category distribution, wearable devices show a situation of “separation of powers”, with watches, bracelets and headphones occupying more than 90% of the market share.Among them, the sudden emergence of earphone products has something to do with the fact that more and more mobile phone products cancel the 3.5mm earphone interface. It can be said that a small change in the mobile phone has promoted the development of an industry.
In the third quarter of 2021, the global shipments of wearable devices ushered in an increase of 9.9%. At the same time, smart watches with richer functions have begun to replace smart bracelets which are usually cheaper. With the increasing demand of consumers for powerful devices and the gradual narrowing of the price gap, the demand of wearable devices market,It is shifting from low-priced bracelets to smart watches. The number of smart watches selling for less than $100 is now equal to that of bracelets. Previously, smart bracelets have dominated this price range, and the Chinese and Indian markets have been in a leading position. In the high-end market, the shares of Apple, Huawei and Samsung are still high.
At present, there are more than 15,000 wearable device-related enterprises in China, which are active, surviving, moving in and moving out. In terms of geographical distribution, Guangdong has the largest number of wearable device-related enterprises, exceeding 12,000; Followed by Inner Mongolia, there are nearly 400 related enterprises, with 337, 164 and 163 wearable devices related enterprises in Anhui, Shaanxi and Hubei respectively.
Development trend prediction of wearable devices
In recent years, smart glasses and virtual reality glasses are the main products of institutions with high investment at home and abroad. In addition, the number and amount of investment obtained by some enterprises that have mastered the core technology have maintained a high level. The real significance of 5G lies in opening the Internet of Things era of the Internet of Everything,5G commercial products will also break through previous mobile phones, computers and smart wearable devices, and more artificial intelligence products will enter the public eye and become the standard of life. The future will be the era of collision between 5G and the Internet of Things, and wearable devices will be rapidly popularized, becoming an important entrance and application terminal of the Internet of Things.
China’s aging degree continues to deepen, and the aging population is huge.
According to the data of the National Bureau of Statistics, in 2020, the number of elderly people over 65 years old in China will reach 190.64 million, accounting for 13.5% of the total population. China is already in an aging society and is developing towards an aging society. China has a huge population base of chronic diseases, and the market demand for chronic disease management is widespread. On average, one person suffers from cancer every 10 seconds, one person suffers from diabetes every 30 seconds and one person dies of cardiovascular and cerebrovascular diseases every 30 seconds.
With the aging problem in China becoming more and more serious, the proportion of the elderly population is getting higher and higher, and the demand for medical care for the elderly is increasing sharply. In addition, the group of patients with chronic diseases is huge, creating market opportunities for professional medical-grade smart wearable devices as portable and efficient household medical and health electronic products. Chronic disease surveillance and management, extensive market demand,It provides a development opportunity for professional medical-grade smart wearable devices. As the simplest and most effective means of self-health monitoring and management, smart wearable devices can create a new self-management model of chronic diseases through wearable devices to prevent the occurrence of chronic diseases.