Smart Watches Are Rich in Functions, And Health Monitoring Is the Primary Consideration

With the improvement of people's living standards and the convenience brought by technology, people put forward higher requirements for the convenience and intelligence of electronic products. Wearable devices have achieved rapid growth under the stimulus of both technology and demand. Wireless technology, cloud computing and Al, represented by Bluetooth 5.0, have entered an era of rapid development. Smart wearable devices have developed rapidly, and the industry's prosperity has continued to rise.

Smart Watches Have Entered a Stage of Rapid Growth

Globally, the wearable device market has shown an overall growth trend. According to data, global wearable device shipments reached 336.5 million units in 2019, an increase of 89% year-on-year. In the product structure of wearable devices, wristbands and smart watches accounted for the highest proportions, 22.7% and 20.9% respectively, followed by ear-worn devices accounting for 8.1%.

Smart watches have entered an era of rapid development. With the gradual maturity of hardware innovation in wearable devices and a more complete application ecosystem with smart phones, the listener and scale shipments of smart watches continue to expand, and the entire industry has entered a period of accelerated growth. Data shows that global smartwatch shipments have increased from 20.8 million units in 2015 to approximately 72.02 million units in 2020, and the overall trend is rapid growth.


In China, the shipment of smart watches has been on the rise, from 7.5 million units in 2014 to 28.21 million units in 2018.


Apple occupies almost half of the global smartwatch market share. With the advancement of technology, the market's recognition of smart phones has increased, and other brands are accelerating their penetration. According to data, in the fourth quarter of 2020, Apple achieved a grand slam in the global smartwatch market with its outstanding Apple Watch Series 6 and SE, with shipments reaching 12.9 million units, increasing its market share to 40%, and Apple is shipping Continue to lead the smart watch market in terms of volume and revenue. Well-known domestic companies such as Huawei, Honor and Xiaomi are actively deploying smart watch tracks, and the smart watch field will begin to become another competitive battlefield for mobile phone manufacturers after smart phones and TWS.

Smart Watches with Rich Functions and Irreplaceable Application Scenarios

A smart phone combines the characteristics of a smart phone and a traditional watch, which can not only meet the technical requirements of the traditional watch, but also has a certain information processing capability. For the display and accessory functions of traditional watches, smart watches can perfectly present them; smart watches also integrate smart reminders, weather forecasts, GPS navigation, heart rate monitoring, exercise recording; besides, compared with mobile phones, smart watches can meet the basic communication functions, reduce the size of the body, and effectively free hands, which is very suitable for the needs of sports enthusiasts; some smart watches have realized the payment function; In addition, smart watches capture data by touching the skin. These data are important indicators that smart phones cannot obtain. Therefore, smart watches have their own unique advantages in sports monitoring and health management.

Among the many functions of smart watches, health monitoring ranks first, indicating that people attach great importance to the health detection functions of smart watches. With the increasing popularity of smart watches, its comprehensive functions are constantly improving, including but not limited to calls, video, WeChat chat, GPS positioning, exercise management and health monitoring. Relevant survey results show that when consumers buy smart watches, more than 70% of potential users consider the integrity of the product's health monitoring function, which means the health monitoring function has become one of the main factors affecting consumers' purchase of smart watches.


Smart Watches Become A New Cut in the Internet of Everything

With the introduction of eSIM cards and the maturity of the smart watch ecosystem, smart watches are gradually getting rid of the stereotype of "mobile phone accessories" and are beginning to be used as independent products. With the rapid entry of terminal manufacturers, smart watches have become a new window for the interconnection of everything. The launch of eSIM has further enhanced the independence of smart watches. Smart watch brands actively promote the development of eSIM. In February 2020, manufacturers such as Apple, Samsung, Huawei, and Xiaomi launched smart watch products that support eSIM. In the 5G era, smart watches that support eSIM cards will become a new entry and node for the Internet of Everything, rather than an accessory to smart phones.

The Aging of the Population Is Intensifying, And Medical and Health Expenses Are Increasing

China's aging population continues to grow, and it is expected to show an upward trend in the next few years. The medical care needs of the elderly are growing rapidly and the existing public medical resources cannot meet the care needs of the elderly. Therefore, health care for the elderly is gradually shifting to the family. Smart wearable devices provide excellent health care services for the elderly due to portable and efficient health electronic products.


With the increase of per capita disposable income and the increase of residents' health awareness, people's demand for health has begun to be fully released in recent years, and medical and health expenses have also continued to grow steadily. With the further strengthening of social aging and the further development of medical biology and intelligent technology, medical services will cover more people and release more health needs. It is expected that China's medical and health market is expected to remain stable growth and the smart watch industry will definitely benefit.

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