Wearable Device Market That Never Cools Down
The lipstick effect (During the economic downturn, the sales volume of luxury items with low price and high customer satisfaction, such as lipstick, increased) according to the pandemic, Rapid growth in the wearable device market such as mart watches
- Wearable devices such as smart watches, smart bands, and wireless earphones are expected to grow by 32% in 2020 and an additional 28% in 2021, with more than 500 million units sold.
- In particular, the growth of wireless earphones, led by Apple's Airpods, is remarkable, and a CAGR of 19.8% is expected by 2024.
- Smartwatch sales also grew by more than 20%, mainly in India (+57%), and Apple's market share of more than 50% surpassed the total sales of Swiss watches.
- Wearable devices that are rapidly growing due to the lipstick effect in the pandemic
- Apple AirPods hit a year with explosive popularity in 2019
- Unlike smartphones, smart watches that have grown 20% in H1 2020, even in Corona 19
- Apple Watch Overtakes the Entire Swiss Watch Industry in just 5 years
- Amazon Unveils Halo to Battle Apple Watch and Fitbit
1. Wearable Devices are Rapidly Growing due to the Lipstick Effect in the Pandemic.
Wearable devices such as smart watches, smart bands, and wireless earphones are expected to grow by 32% by the end of this year and by 28% by next year to exceed 500 million units.
In particular, the growth of wireless earphones (TWS) is expected to be very remarkable, and by 2024, the annual average growth rate (CAGR) is 19.8%, and it grows significantly.
Source: canalys
2. Apple AirPods Hit a Year with Explosive Popularity in 2019
Launched in 2016, Apple's wireless earphone, Airpod, emerged as the most important product after smartphones stagnant due to explosive growth in 2019.
It is expected to sell about 85 million AirPods in 2020, and Apple's share of the wearable market is 35%, and it will evolve into a computer device within the next five years.
Source: businessinsider
3. Unlike Smartphones, Smart Watches have grown 20% in H1 2020, even in Corona 19
According to Counterpoint Research, in the first half of this year, the global smart watch market grew 20% year-on-year despite Corona 19.
While demand for smartphones and other sectors was stagnant, smartwatches grew, especially in India (+57%), to offset the decline in other regions.
The top three companies accounted for 69% of total sales, and Apple was the No. 1 company with 51.4% of total sales, expanding from the previous year, 2nd Garmin, 3rd Huawei.
Source: counterpointresearch
4. Apple Watch Overtakes the Entire Swiss Watch Industry in just 5 years
According to SA's announcement, Apple Watch's sales volume in 2019 surpassed that of Rolex and Omega's overall Swiss watch industry in just five years.
Apple shipped 30.7 million Apple Watches last year, a 36% increase from the previous year, but Swiss watch sales decreased 13% to 21.1 million units.
Source: macrumors
5. Amazon Challenges the Wearables Market with Subscription Fitness Bands and Health Service.
Amazon launches Halo, a fitness tracker that measures body fat, sleep, mood, and activity for 24 hours, and is also a battlefield for Apple Watch and Fitbit.
Introduced a subscription service and analyzed the speed, beat, rhythm, strength and weakness of speaking with a technology called Tone along with 3D body scanning function to analyze emotions.
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