Will hybrid watches become the mainstream of the wearable market in the future?

IDC's latest report shows that the wearable market continues to grow, but in the third quarter of 2016, smart watches fell by 51.6%. The stickiness and experience of wearable devices have hampered the development of the wearable market. What are the trends in 2017 for China's largest market for wearable shipments? Does the growth of hybrid watches mean a new trend for wearable devices?

Smart Watch 2016 third quarter market size

According to IDC's latest report, smartwatch shipments fell 51.6% in the third quarter of 2016, but the overall wearables market grew 3.1% year-on-year. According to the report, the “basic wearable device” consisting mainly of fitness wristbands is the best-selling wearable device in the last quarter, accounting for 85% of the total. According to IDC, this can be attributed to the launch of new models and an expanding user base.

Chinese manufacturer Xiaomi ranked second, with a market share of 16.5% in the third quarter, shipments of 3.8 million units, fitness brand Garmin ranked third, with a market share of 5.7%, and equipment shipments in the third quarter of 1.3 million. station. Apple ranked fourth with a market share of 4.9%, a year-on-year growth rate of 71% in the wearables market, and its total market share dropped from 17.5% in the third quarter of 2015 to only 4.9% in the third quarter of 2016. .

The report also shows that in 2016, China's wearable device market shipments were 38.76 million units, an increase of 57.1% year-on-year, making it the second largest mobile smart consumer terminal device in the Chinese market after smartphones. At the same time, as the world's largest market for wearable devices, China's shipments in 2016 accounted for 43.8% of global shipments, 1.6 times that of the US market.

Market reaction is far less hot than imagined

In October 2015, data agency eMarketer predicted that the use of wearable devices by adults in the United States would grow by more than 60% in 2016. However, according to the statistics released in 2016, it only increased by 24.7%.

Wearable market trend

There are 39.5 million American adults using at least one wearable device per month, far below the previous forecast of 63.7 million. Currently, the use of wearable devices will only reach 15.8% of the US population. This penetration rate is expected to grow to 21.1% by 2020.

Young people are the heaviest users of the device, and about 30% of adults will be wearable users between 18 and 34.

eMarketer analyst Monica Peart said: "Young adults enter the wearables market primarily through fitness trackers. "Low-priced and clear uses are more attractive to this group.

Hybrid watch worth looking forward to

For the largest market for smart watches, IDC has also made predictions, one of which is that curved screens will be used on a larger scale on wearable devices, especially in 2018, curved screens will be applied on a large scale in wearable devices. The ring will be the most widely used product for curved screen applications.

Another prediction from IDC is that identity authentication will become an important feature of wearable devices. The portable nature of wearable devices and the uninterrupted data collection will make it an important personal authentication terminal in smart home, consumer and enterprise Internet of Things. IDC predicts that by 2020, identity authentication will replace health monitoring as the most important feature of wearable devices.

In terms of specific product forms, according to the latest report from the UK market research firm Juniper Research, "Smart Watch: Trends, Supplier Strategy and 2017-2021 Forecast", Apple Watch, Samsung Gear S3 and Android Wear smart watches are clearly in the smart watch market. Already in a stable position. Pebble and Vector have been acquired by Fitbit, and the smart watch market seems to have no room for Motorola and Huawei.

The report predicts that smart watch sales will be reduced to 60 million by 2021, but hybrid smart watches will account for 40% of the market share in the next five years, higher than the current 30% market share. The shape of the hybrid smart watch is the same as that of the traditional watch. It incorporates functions such as step counting and heart rate monitoring to ensure a lot of battery life, which is equivalent to the combination of traditional watches and modern technology. In China, Meizu light smart watch mix is ​​the representative of this hybrid smart watch, after FIYTA has also released similar products.

Hybrid watch

This forecast is based primarily on the hybrid smartwatch design, the performance that will be available in 2017, and the return on investment. Juniper believes that Apple, Fitbit, Samsung, Tiger TAG Heuer and Fossil are the first winners in the smartwatch industry.

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