Table of Contents
Executive Summary
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- The market
- Stable spending in tech and communication sectors
- High-end digital products still desired
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- Figure 1: Desire for high-end digital products with high configuration, 4 November 2020
- World championship and marketing events boosted esports awareness
- Learning-related activities prioritised in leisure spending
- Impact of COVID-19 on tech products
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- Figure 2: Summary of impact of COVID-19 on tech products, 2020
- Companies and brands
- Smart speaker dynamics
- VR and AR devices not differentiated enough
- Wearable devices become more specialised in health and wellness
- Innovation highlights in digital life
- The consumer
- Increasing penetration of smart speakers
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- Figure 3: Digital device ownership, December 2019-October 2020
- Smart TV, the new gaming playground
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- Figure 4: Activities on four digital devices – Q4 update, October 2020
- More daily usage for apps targeting special subculture groups
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- Figure 5: Top apps usage, used every day, December 2019-October 2020
- Paying for knowledge content remains niche
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- Figure 6: Usage of paid knowledge content, October 2020
- Career skills and hobbies are key motivators
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- Figure 7: Reasons to pay for knowledge content, October 2020
- What we think
Issues and Insights
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- Strengthen audio quality and connectivity to promote smart TV
- The facts
- The implications
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- Figure 8: Ways to control spending on large home appliance, 3 June 2020
- Revamp targeting and positioning strategies for VR devices
- The facts
- The implications
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- Figure 9: Digital device owned and also used by Gen-Zers, December 2019
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- Figure 10: Most used online gaming device, 2019 and 2020
The Market – What You Need to Know
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- Stable spending in tech and communication products
- Premium products are still desired
- Various marketing activities boosted awareness of esports
- Leisure spending skews towards learning
Market Factors
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- Stable consumption for tech and communication
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- Figure 11: Monthly spending changes on technology and communication products, March-November 2020
- Interested in high-end products
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- Figure 12: Desire for high-end digital products with high configuration, 4 November 2020
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- Figure 13: Desire for high-end digital products with high configuration (a), by age and gender, 4 November 2020
- Learning is preferred during leisure time
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- Figure 14: Prioritised leisure spending, 4 November 2020
- Enhanced awareness of esports
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- Figure 15: Marketing campaign featuring an esports theme, 2019-20
Companies and Brands – What You Need to Know
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- Changing competitive landscape in smart speakers
- VR/AR products are yet to expand competitive scope
- Watching drama on gaming devices
- Wearable devices developing new functions for healthy lifestyles
- Tech brand crossed over to education
Companies and Brands
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- New players in smart speaker market
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- Figure 16: Summary of characteristics of leading smart speaker players in China market, 2020
- VR and AR devices have narrow competitive focus
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- Figure 17: Price range of VR/AR products sold on ecommerce platforms*, November 2020
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- Figure 18: Entry-level VR devices in the market, November 2020
Who’s Innovating?
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- Digital home highlights: crossover
- Pro-version smart speaker with a 10-inch screen by Baidu
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- Figure 19: Smart speaker X10 by Baidu, 2020
- Huawei introduced its high-end smart speaker
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- Figure 20: Huawei Sound smart speaker, 2020
- Home projector crossover with speaker to touch more usage occasions
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- Figure 21: XGIMI’s new product portable projector Play equipped with speaker, 2020
- Digital wearable highlights: catering to health and wellness demands
- Earbuds help people fall asleep
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- Figure 22: Bose Sleepbuds II, 2020
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- Figure 23: ZenBuds by Amazfit, 2020
- Earbuds specialised in monitoring heart beats during exercise
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- Figure 24: PowerBuds by Amazfit, 2020
- Garmin’s new health-tracking functions target women in pregnancy
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- Figure 25: Pregnancy health-tracking function by Garmin, 2020
- Digital entertainment highlights: drama in gaming consoles
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- Figure 26: Tencent video landed in Switch gaming console, November 2020
- Tablets highlights: iFlytek launched e-learning tablet
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- Figure 27: iFlytek launched e-learning devices, 2020
The Consumer – What You Need to Know
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- Smart speakers meet more users
- Smart TV extended usage occasion
- Improved active daily usage for apps targeting special consumer groups
- Paid knowledge consumption is still niche
Digital Device Ownership
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- Smart speakers improved penetration
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- Figure 28: Digital device ownership, December 2019-October 2020
- Gaming console still emerging
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- Figure 29: Ownership of gaming console (a), by age, December 2019-October 2020
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- Figure 30: Devices used to play games in the last 3 months among 18-24s, 2019 and 2020
- Families with children are the key consumers for VR devices
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- Figure 31: VR device (a) ownership, 2018-20
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- Figure 32: Ownership of VR device*, by age, 2018-20
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- Figure 33: Ownership of VR device*, by family structure, 2018-20
Activities on Digital Devices
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- Smart TVs most used for watching films and drama
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- Figure 34: Activities on four digital devices – Q4 update, October 2020
- TV is a new playground for gaming
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- Figure 35: Played games on smart TV/projector, December 2019-October 2020
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- Figure 36: Played games on smart TV/projector, by age and gender, December 2019-October 2020
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- Figure 37: Play games on smart TV/projectors – Q4 update, by digital device ownership, October 2020
- E-reading on computers and tablets increases
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- Figure 38: E-reading on laptop/desktop and tablet, December 2019-October 2020
Top Apps Usage
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- Short video app evolved into a highly frequently used app
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- Figure 39: Top apps usage, October 2020
- Daily usage increased at apps targeting special consumer groups
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- Figure 40: Top apps usage, used every day, December 2019-October 2020
Usage of Paid Knowledge Content
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- Paying for knowledge on apps is still niche
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- Figure 41: Usage of paid knowledge content, October 2020
- Key users of paid knowledge content
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- Figure 42: Have paid for knowledge content – by demographics, October 2020
- Potential users are among those who enjoy e-reading
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- Figure 43: Intention to try paid knowledge content (a), by e-reading habit, October 2020
Reasons to Pay for Knowledge Content
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- Career-related skills and hobbies are key motivators
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- Figure 44: Reasons to pay for knowledge content, October 2020
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- Figure 45: Reasons to pay for knowledge content, by past paid knowledge consumption, October 2020
- Young people motivated to pay for learning how to manage personal finance
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- Figure 46: Reasons to pay for knowledge content – cultivate the ability of managing personal finance, by age, October 2020
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- Figure 47: Young people’s motivation to pay for knowledge content – cultivate the ability of managing personal finance, by demographics, October 2020
Meet the Mintropolitans
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- MinTs have driven ownership of smart speakers
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- Figure 48: Digital device ownership among MinTs, December 2019-October 2020
- Figure 49: Ownership of smart speakers, by consumer classification, December 2019-October 2020
- MinTs used smart TV for gaming
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- Figure 50: Played video games on smart TV/projector, December 2019-October 2020
- Low usage of paid knowledge content among MinTs
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- Figure 51: Usage of paid knowledge content, by consumer classification, October 2020
- Figure 52: Reasons to pay for knowledge-related content on apps, by consumer classification, October 2020
Appendix – Methodology and Abbreviations
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- Methodology
- Played games on smart TV/projector by age and gender
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- Figure 53: Played games on smart TV/projector, by age and gender, December 2019-October 2020
- Abbreviations
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