Friday, Sep 17, 2021
On September 2, 2021, the Canalys Institute released its report on the global wearable market in the second quarter of this year. According to the report, in the last quarter, the supply of these products reached 40.9 million units with an annual growth of 5.6 percent. On the other hand, the decline in the simple bond market, which started in the fourth quarter of 2020, continued until the second quarter of 2021 and decreased by 15.5 million units to 23.8%. However, this downward trend was offset by an increase in the supply of watches, so that simple and smart watches with a growth of 37.9 percent, saw 25.4 million units of supply. Thus, 62% of the global supply of wearable straps is allocated to this group.
Interestingly, the supply of watches (including simple and smart watches) for the first time in the fourth quarter of 2020 exceeded wearable straps The trend, with three consecutive seasons of superiority of this group of products, has reached more than 60% of the total supply of wearable straps. According to Canalys researchers, watches are expected to continue to play a key role in this market in the coming years.
Canalys report shows that in the season ending June 2021, Xiaomi surpassed Apple and offered 8 million bracelets to become the top supplier of wearable straps (including smart bracelets and smartwatches) The experts of this institute consider the introduction of Mi Smart Band 6 as one of the most important reasons for this success. After Xiaomi and Apple with market share of 19.6 and 19.3 percent, respectively, Huawei with 3.7 million units and 9.2 percent market share, is the third largest supplier, but above all, the company's performance in The Chinese market is returning. According to Cynthia Chen, a Canalys analyst, "Xiaomi wisely accelerated the release of the Mi Band 6, which is a better device than the previous model." In his view, Xiaomi's rapid shift to simple watches has helped the company increase sales of its products by about 1.3 million units in the quarter ending June 2021.
Report Canalys reports that Apple continues to lead the global watch market, with 31% market share in the second quarter of 2021. On the other hand, recent efforts by manufacturers, including Samsung and Google to develop Wear OS 3 and the introduction of Galaxy Watch4 series smartwatches with new biosensors and 5-nanometer chipset, along with the efforts of Oppo and Havami (based on the Zepp platform) and others To develop internal components and provide new solutions for their products, companies are taking the competition more seriously than ever before and are driving smartwatches for continuous improvement.
According to Jason Low, director of research at Canalys, retailers are trying to make a big leap in technology and introduce a new generation of smartwatches. They improve key features such as user experience and battery life, create their own distinctive user interface, and leverage their ecosystems for new and unique applications. "But [in the meantime] health tracking is the most prominent area of use in smartwatches," he said. "The ability to provide advanced health tracking features and provide meaningful data and useful insights into the use of ice cream in the field of health will be the distinguishing factor between winners and losers in this market." In his view, manufacturers' investment in the next generation of health sensors and the upgrade of internal clock algorithms is crucial for tracking vital signs and ensuring proper device performance and reliability. Companies should focus on providing insights into health trends, including long-term data collected, so that users understand how lifestyle can affect their health.