Shulou(Shulou.com)11/24 Report--

CTOnews.com October 19 news, today, Strategy Analytics released a report that global smartwatch sales grew 17% year-on-year in 2022.

Although the smartwatch market experienced year-on-year stagnation in Q2 in 2022 for the first time since 2016, new research shows that smartwatch sales will grow at an annual rate of 17% for the whole of 2022, the report said.

CTOnews.com learned that Strategy Analytics expects this strong growth momentum to continue into 2027, corresponding to a compound annual growth rate of 10 per cent between the actual 2021 data and the 2027 forecast.

In addition, the report says the market is somewhat concentrated, with more than 3/4 of unit sales occurring in only 10 major countries, and that share remains stable throughout the forecast period.

By targeting countries such as China, the US, India, the UK, Indonesia and Brazil, smartwatch suppliers will be able to reach the largest group of smartwatch buyers now and in the future. Since most smartwatch buyers are still buying for the first time, pioneers such as Apple and Samsung have an advantage in creating stickiness for their smartwatch products. In other words, the market competition is becoming more and more fierce, especially at the low end of the market, where new entrants, mainly in China, are introducing their products to the market. this also provides an affordable upgrade path for users of fitness bracelets and functional watches.

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