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In the post-epidemic era, smart wearable devices may usher in a golden age

Updated: Aug 18, 2021

Since the successful development of the vaccine and the gradual start of vaccination, we have entered the post-epidemic era. Whether it is the epidemic era or the post-epidemic era, it has had a profound impact on the operation of the entire world and the daily life of each individual. Since the beginning of the epidemic, all walks of life in China have fallen into a decline. Under the strong government control and governance, China quickly recovered. The outbreak of the epidemic has prompted many health experts to believe that smart wearable devices will usher in a contrarian growth in the post-epidemic era and enter the golden age.

According to the survey of the GSMA think tank, the new crown epidemic has had a clear and lasting impact in China. Since 2019, the number of Chinese consumers with connected health and fitness equipment has increased by 46%, and another one-fifth plan to buy them in the near future. Among them, health and fitness equipment increased by 46%, the largest increase in wearable devices. And both large and small factories are accelerating their deployment in the smart wearable industry, and shipments of smart wearable devices will continue to increase and gradually reach saturation.

According to IDC’s latest research report data, the global wearable device market grew by 35.1% year-on-year in the third quarter of 2020, with total shipments reaching 125 million. In addition to the sales stimulus brought by the true wireless headsets released by companies such as Apple, this has been affected to a certain extent by the new crown epidemic.

Steven Waltzer, a senior analyst at Strategy Analytics, said: “We estimate that Apple Watch’s global shipments in 2019 have increased by 36% from 22.5 million units in 2018.” He believes that attractive design , The combination of user-friendly technology and sticky applications makes Apple Watch very popular in North America, Western Europe and Asia. Neil Mawston, Executive Director of Strategy Analytics, added: “We estimate that the entire Swiss watch industry sold 21.1 million watches in 2019, a decrease of 13% from 24.2 million in 2018. Mechanical watches are still very popular among older consumers. Welcome, but young consumers are turning to smart watches.”

According to Strategy analytics, Apple’s shipments of its smart watches have surpassed the shipments of Swiss watches in 2019. Apple Watch grew 36% year-on-year. Swiss Watch Industry dropped by 13% year-on-year.

Looking at Apple’s earnings report again, in the first quarter of 2020, the company’s revenue in the areas of wearable devices, smart homes and smart accessories increased by 22.5% year-on-year. Apple said this set a new record for its quarterly revenue from wearable devices. Coming to the third quarter of 2020, Apple’s sales of wearables, home devices and accessories reached $7.876 billion, a year-on-year increase of 20.8%.

The epidemic pushes consumers to pay more attention to their health As the analyst pointed out, the factor driving the surge in wearable device shipments is the user’s attention to their own fitness and health. Especially since the outbreak of the epidemic, consumers’ attention to these two factors has risen sharply. With the cancellation of bans in some countries, this trend will intensify, people will pay more attention to outdoor sports, and interest in wearable devices will also increase. At the same time, some doctors have linked the blood oxygen saturation level of patients with new coronary pneumonia to the severity of their infection, while other medical professionals are concerned about the virus’s impact on the heart. Wearable devices from vendors including Garmin, Fitbit, Huawei GT PRO, Veepoo Watch RIG, etc. all provide blood oxygen saturation tracking and heart rate monitoring functions.

It can be seen that both large and small factories attach great importance to the application of medical monitoring technology in smart watches. In the future, this is also a cut to enter the smart watch market. At the same time, the strong gets stronger, and the weak gets weaker.

Note: This article only represents the views of Shenzhen Veepoo Technology Co., Ltd.

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