智能手表品牌TOP10综合竞争力：苹果华为争榜一，小米最神秘

Top 10 smart watch brands: Apple and Huawei evenly to be NO.1, while XIAOMI is the most mysterious

The smartphones and TWS markets are declinling, while  smart watches markets are growing.

According to statistics from Electrend, the global shipment volume of smart watches in 2022 was 228 million, a year-on-year increase of 9%; The expected growth rate in 2023 is 14%.  

At present, the field of smart watches has not yet formed standardization, and there is sufficient innovation space for products in functional applications. At least in the next two years, it will continue to grow upwards.

According to statistics from Electrend, the top ten global smartwatch manufacturers accounted for a total of 72% of the global market share in 2022. Among them, Apple and Huawei ranked first and second with a market share of 21% and 10%, respectively.

Based on key business indicators such as shipment volume, market share, product structure, and number of models on sale, Electrend believes that the competitive ladder of global smartwatch manufacturers has formed in 2023.

Among them, Apple, Huawei, and Samsung rank in the first tier; Garmin, Noise, Fire Boltt, and boAt are the second tier teams; Okii, Huami, and Xiaomi are the third tier teams.

The following will provide an overview of three key factors: shipment , product structure, and number of products on sale.

1、shipment

The continuously rising shipment volume highlights strong market demand, and the space for product expansion and iteration is further expanded.

The competition in the first tier is also very fierce. Compared to the previous year, Apple's shipment volume is increasing, but its market share is decreasing, which means that as the market expands, there are also more skilled players coming to grab the cake. It should be pointed out that the three players in the first tier are all ecological giants and are all supported by smartphone products, commonly known as the "mobile phone series".

Since last year, thanks to the demographic dividend, India has jumped to the world's largest smart watch market. Local brands such as Noise, Fire-Boltt, and boAt have risen strongly and become representatives of the second tier.

Ranked sixth and seventh in terms of shipment volume, both focus on segmented tracks, namely Jiaming, who focuses on the sports sector, and Little Genius, who focuses on the children's sector.

2、Product Structure

From the list, there are four "high-end players" in the global smartwatch market in 2023, namely Apple, Huawei, Samsung, and Jiaming. In the mid to high end market, there are two players: Xiaotian and Huami. Noise, Fire Boltt, boAt, and Xiaomi are popular in the mid to low end market.

Among them, the competition for high-end top spot between Apple and Huawei is becoming increasingly fierce.

In February this year, it was reported that Apple's smart watch had made a major breakthrough in realizing the non-invasive blood glucose monitoring function, and had entered the proof of concept stage. According to the analysis of industry chain experts, this function is mainly designed specifically for the needs of the Chinese market. However, there are also reports that Apple may need an additional 3-7 years to achieve the hardware reduction of this technology to fit the Apple Watch size.

Huawei is naturally not willing to be outdone. In March of this year, Huawei released its new high-end flagship Huawei WATCH Ultimate, which is the world's first Volkswagen smartwatch that supports bidirectional Beidou satellites. Regarding this, the well-known British technology media Trusted Reviews commented, "Huawei WATCH Ultimate will become the nemesis of Apple WATCH Ultra.

Although Noise, Fire Boltt, and BoAt collectively occupy over 70% of the market share in India, their high dependence on local consumption and the market position of mid to low-end products make it difficult for them to exit India, so they have certain limitations in increasing market share.

At the same time, Indian brands rely heavily on China for the supply of core components such as chips, displays, batteries, and various aspects of ODM manufacturing. From this perspective, the Indian market is more like a touchstone and gold digger for China's supply chain.

3、Number of models for sale

From the analysis of the list, the gameplay of mid to low-end players with fast market share is multiple options, low prices, and running volume.

For example, the number of models on sale for Noise, Fire Boltt, and BoAt is 49, 68, and 66, respectively, which is equivalent to 8-22 times the number of models sold by the top three high-end players.

Although Apple, Samsung, and Huawei have a small number of models on sale, they still make a lot of money and become important sources of revenue for each company. From this, it can be seen that high-end products have a stronger ability to attract money and are also an important indicator to measure the comprehensive competitiveness of a brand.

It is worth noting that Xiaomi, the previous king in the field of bracelets, has been exceptionally low-key and has shown a wait-and-see characteristic on the low-end track of smart watches. It has only four models on sale and a market share of only 4%. So, why hasn't Xiaomi, which has always been characterized by rich product styles, invested heavily in the mid to low end track? Do they have the idea of moving towards the high-end market? It remains to be observed.