2021 is a year of rapid upgrading in global smartwatch product technology and market.
Firstly, smart watches are rapidly advancing at the level of health and medical functions. Secondly, More big brand especially mobile phone manufacturers have fully intervened, which has accelerated the market popularization of smart watches.
There is also the ups and downs of the new crown epidemic, which also attracted general people pay more attention to health, and indirectly contributes to the success of the smart watch market.
In 2020, the global smartwatch market shipments reached 194 million. Among them, the shipment of renowned brands of smart watch reached 74 million, accounting for 38%; the shipment of white-labelled smart watches reached 120 million, accounting for 61.7%.
In 2021, the global smartwatch market shipments reached 210 million, an increase of 8% compared with year 2020.
Among them, renowned brand smart watch sold 122 million pieces, an yearly increase of 40%, accounting for 58%; white-labelled smart watches sold 88 million pieces, yearly decreased of 66%, accounting for 42%.
We expect global smartwatch market shipments to grow by 28% in 2022 to 270 million units.