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

Thank CTOnews.com netizens soft media Xinyou 1933769 for the clue delivery! CTOnews.com, September 26 (Xinhua) according to the latest report released by market research firm Canalys, global shipments of wearable wristband devices reached 44 million units in the second quarter of 2023, an increase of 6 percent over the same period last year.

"the wearable market is reinvigorating thanks to the growing consumer demand for wearables in daily life," said Jack Leathem, a research analyst at Canalys. "demand in different market segments is also rebounding, prompting manufacturers to further meet specific consumer needs."

▲ Touyuan Canalys official account CTOnews.com learned from the report that basic watches continued to grow in the second quarter of this year, accounting for nearly half of the market share, reaching 46%, mainly due to Indian manufacturers and head smartphone manufacturers such as Huawei, Xiaomi and Huami. The Indian market for basic watches continued to grow by an astonishing 73 per cent in the second quarter of 2023, highlighting the dynamism of the Indian wearable wristband market.

Although it has declined compared with the same period last year, the market share of the basic bracelet market remains stable, at about 19%, mainly due to its people-friendly prices and consumers' cautious attitude towards higher-priced alternatives.

The double-digit growth in watch categories is mainly driven by basic watches with high cost performance. In the second quarter of 2023, manufacturers launched a series of new products to increase market share.

For example, Xiaomi and Huawei have introduced affordable basic bracelets and watches to meet the preferences of all kinds of consumers. Indian manufacturers have followed suit, with brands such as Noise introducing entry-level models and products in a variety of price ranges to meet a wider customer base. Fire Boltt further cut prices to provide consumers with a superior user experience at an average price of less than $19 (currently about RMB139).

▲ source Canalys official account with the development of the market, manufacturers are gradually clear market segmentation development trend, so as to improve competitiveness, at present, consumers can not only find affordable prices, but also more comprehensive entry-level products. Advances in screen technology are expanding the audience of smart wearable devices.

At the same time, high-end manufacturers are focusing on enriching product features and providing added value, which has also led to a rise in average selling prices. For example, as Google smartwatches integrate more services and user experience, the average selling price of Google smartwatches has risen from $216,216 (CTOnews.com Note: currently about 1579 yuan) to $266 (currently about 1944 yuan). This strategy reflects a vision of development beyond hardware and is consistent with the rapid development of the wearable market.

"given the current economic challenges, wearables still have long-term prospects," said Cynthia Chen, research manager at Canalys. "although short-term economic factors make consumers more inclined to pursue more cost-effective wearables, the lasting attraction lies in stable quality and long-term accumulation of health data."

Canalys forecasts that the wearable wristband market will continue to grow at an average annual rate of 4.1 per cent by 2027 as consumer demand shifts.

▲ image source Canalys official account reference

The wearable wristband market grew by 6% in the second quarter of 2023 after two quarters of decline.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.