What you need to know
2020 is expected to be a distinctive year for the wearables market as a result of COVID-19. Growth has continued for the market. Due to the impacts of the COVID-19 pandemic on the supply chain, the industry saw a brief slowdown in the first quarter of 2020.
Overall health monitoring demand is still the main purchase drivers for wrist-worn wearable technology. The market is on the cusp of providing health and fitness monitoring that would be on a par with or maybe even better than what is currently provided on the wrist. Entry-level retail prices and ease of use will help drive market growth. As the technology becomes more advanced, consumers trust in brands to provide more accurate health and fitness data and personal diet recommendations will grow stronger.
Key issues covered in this Report
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The impact of COVID-19 on consumer behaviour and the wearable devices market
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How the market should react to the post-COVID-19 era
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The performance of leading brands in 2019
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Future growth opportunities for hearables, smartwatches and smart wristbands
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Marketing strategies adopted by manufacturers
Report scope
The term ‘wearable technology’ (also referred to as ‘wearable devices’ or ‘wearables’) in this Report refers to a category of technology devices that can be worn on the body, either as an accessory or as items of clothing.
Generally, wearables can perform some of the same computing tasks as smartphones and can connect to the Internet to enable data exchange. In addition, they have sensors and scanning functions to track physiological functions and enable biometrics and allow real-time access to this information.
In the previous Report, Wearable Technology – China, December 2016, the definition encompassed smartwatches, smart wristbands, smart glasses or headsets, smart clothing and smart jewellery. However, as the market has evolved, this year’s Report has added hearables, namely TWS (True Wireless Stereo) technology. As far as this Report is concerned, Mintel’s market size estimates only cover smart wristbands, smartwatches, and hearables technology.
This Report only covers the Chinese consumer market for wearable technology; business-to-business sales are excluded, and analysis refers only to trends in consumer markets unless specifically stated.
