PUBLISHER: Inkwood Research | PRODUCT CODE: 1527774
PUBLISHER: Inkwood Research | PRODUCT CODE: 1527774
China Traditional and Smart Watch Market Forecast 2024-2032
KEY FINDINGS
The China traditional and smart watch market was valued at $17670.45 million in 2023 and is expected to reach $24372.15 million by 2032, growing at a CAGR of 3.43% during the forecast period 2024-2032.
In terms of volume, the China traditional and smart watch market was valued at 68.42 million units in 2023 and is expected to reach 79 million units by 2032, growing at a CAGR of 1.62% during the forecast period.
MARKET INSIGHTS
The China traditional and smart watch market has become a significant sphere within the global timepiece industry, driven by several key factors. A primary growth driver is China's manufacturing capabilities, which facilitate the cost-effective production of both traditional and smart watches.
In 2023, China's market saw substantial activity, according to various statistical sources. The International Data Corporation (IDC) reported that the country amassed over 78 million units of watches during the year, highlighting a significant volume of market transactions as per industry reports. This influx included both traditional and smart watch segments.
Further, the smart watch sector experienced notable growth, as disclosed by the China Academy of Information and Communications Technology (CAICT). Their 2023 report highlighted a 12% year-on-year increase in smart watch shipments, underlining steady expansion within this technological niche. This growth signifies a burgeoning interest among Chinese consumers in wearable technology.
Technological advancements have also become a key driver in the China traditional and smart watch market, fueling consumer demand and market growth. Continuous innovation and the integration of cutting-edge technologies have been instrumental in shaping the market landscape. Smart watch manufacturers have been steadily improving various aspects of their products, such as display quality, battery life, and overall performance. The introduction of high-resolution OLED displays, energy-efficient processors, and advanced sensors has significantly enhanced the user experience, making smart watches more appealing and functional.
However, the limited battery life of smart watches poses a significant challenge in the China traditional and smart watch market. Despite advancements in battery technology, the compact size and power-intensive features of smart watches often result in shorter battery durations compared to traditional watches.
The constant need for recharging can inconvenience users, particularly during travel or extended periods of outdoor activities. This limitation may disrupt the seamless integration of smart watches into daily routines, potentially discouraging some consumers from adopting these devices. Additionally, the adoption of contactless payment systems has emerged as a notable trend in the China traditional and smart watch market, enhancing the devices' functionality and utility in everyday life.
Furthermore, contactless payment systems on smart watches utilize near-field communication (NFC) technology or other wireless communication protocols to facilitate seamless transactions. Users can easily make secure and convenient payments directly from their smart watches by simply waving them near a compatible payment terminal, eliminating the need for physical cards or cash.
SEGMENTATION ANALYSIS
The report on the China traditional and smart watch market includes the segmentation analysis based on product type and distribution channel.
Market by Product Type:
- Traditional Watch
Product Type
- Mechanical Watch
- Quartz Analogue Watch
- Quartz Digital Watch
Price Range
- Low-Range
- Mid-Range
- Luxury
- Smart Watch
Smart Wearable
Analogue Activity Watch
Digital Activity Watch
Market by Distribution Channel:
- Offline Distribution Channel
Hypermarket
Jewellery and Watch Specialist
Appliance and Electronic Specialist
Other Offline Distribution Channels
- Online Distribution Channel
Inkwood Research's report on the China traditional and smart watch market provides in-depth insights as well as the market's segmentation analysis. The detailed evaluation of the market includes Competitive Landscape, Key Buying Criteria, Market Maturity Analysis, and Value Chain Analysis.
COMPETITIVE ANALYSIS
Some of the prominent players in the China Traditional and Smart Watch Market are Samsung, Garmin, Apple Inc, etc.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
- 1.1. STUDY OBJECTIVES
- 1.2. METHODOLOGY
- 1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
- 2.1. MARKET SIZE & FORECAST
- 2.2. COUNTRY SNAPSHOT
- 2.3. COUNTRY ANALYSIS
- 2.4. SCOPE OF STUDY
- 2.5. MAJOR MARKET FINDINGS
- 2.5.1. HYBRID WATCHES, FUSING TRADITIONAL AND SMART FEATURES, ARE INCREASINGLY FAVORED
- 2.5.2. SUBSCRIPTION-BASED MODELS FOR SMART WATCH SERVICES AND APPS ARE ON THE RISE
3. MARKET DYNAMICS
- 3.1. KEY DRIVERS
- 3.1.1. TECHNOLOGICAL ADVANCEMENTS IN SMART WATCHES
- 3.1.2. EXPANSION OF CUSTOMIZATION AND PERSONALIZATION OPTIONS
- 3.1.3. GROWING HEALTH AND FITNESS CONSCIOUSNESS
- 3.2. KEY RESTRAINTS
- 3.2.1. LIMITED BATTERY LIFE OF SMART WATCHES
- 3.2.2. COMPATIBILITY ISSUES WITH DIFFERENT DEVICES AND PLATFORMS
- 3.2.3. PRIVACY AND SECURITY CONCERNS OVER DATA COLLECTION
4. KEY ANALYTICS
- 4.1. KEY MARKET TRENDS
- 4.1.1. ADOPTION OF CONTACTLESS PAYMENT SYSTEMS
- 4.1.2. INCORPORATION OF VOICE ASSISTANTS AND AI
- 4.1.3. DEVELOPMENT OF SUSTAINABLE AND ECO-FRIENDLY WATCH MATERIALS
- 4.2. PORTER'S FIVE FORCES ANALYSIS
- 4.2.1. BUYERS POWER
- 4.2.2. SUPPLIERS POWER
- 4.2.3. SUBSTITUTION
- 4.2.4. NEW ENTRANTS
- 4.2.5. INDUSTRY RIVALRY
- 4.3. PESTLE ANALYSIS
- 4.4. GROWTH PROSPECT MAPPING
- 4.5. MARKET MATURITY ANALYSIS
- 4.6. MARKET CONCENTRATION ANALYSIS
- 4.7. VALUE CHAIN ANALYSIS
- 4.7.1. PRODUCT DESIGN AND DEVELOPMENT
- 4.7.2. MANUFACTURING AND SUPPLY CHAIN MANAGEMENT
- 4.7.3. MARKETING AND DISTRIBUTION
- 4.7.4. AFTER-SALES SERVICES AND CUSTOMER SUPPORT
- 4.8. KEY BUYING CRITERIA
- 4.8.1. DESIGN AND AESTHETICS
- 4.8.2. FUNCTIONALITY AND FEATURES
- 4.8.3. BRAND REPUTATION AND HERITAGE
- 4.8.4. PRICE AND VALUE FOR MONEY
5. MARKET BY PRODUCT TYPE (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION UNITS)
- 5.1. TRADITIONAL WATCH
- 5.1.1. PRODUCT TYPE
- 5.1.1.1. MECHANICAL WATCH
- 5.1.1.2. QUARTZ ANALOGUE WATCH
- 5.1.1.3. QUARTZ DIGITAL WATCH
- 5.1.2. PRICE RANGE
- 5.1.2.1. LOW-RANGE
- 5.1.2.2. MID-RANGE
- 5.1.2.3. LUXURY
- 5.1.1. PRODUCT TYPE
- 5.2. SMART WATCH
- 5.2.1. SMART WEARABLE
- 5.2.2. ANALOGUE ACTIVITY WATCH
- 5.2.3. DIGITAL ACTIVITY WATCH
6. MARKET BY DISTRIBUTION CHANNEL (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION UNITS)
- 6.1. OFFLINE DISTRIBUTION CHANNEL
- 6.1.1. HYPERMARKET
- 6.1.2. JEWELLERY AND WATCH SPECIALIST
- 6.1.3. APPLIANCE AND ELECTRONIC SPECIALIST
- 6.1.4. OTHER OFFLINE DISTRIBUTION CHANNELS
- 6.2. ONLINE DISTRIBUTION CHANNEL
7. COMPETITIVE LANDSCAPE
- 7.1. KEY STRATEGIC DEVELOPMENTS
- 7.1.1. MERGERS & ACQUISITIONS
- 7.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
- 7.1.3. PARTNERSHIPS & AGREEMENTS
- 7.1.4. BUSINESS EXPANSIONS & DIVESTITURES
- 7.2. MARKET SHARE ANALYSIS
- 7.2.1. BY TRADITIONAL WATCH
- 7.2.2. BY SMART WATCH
- 7.3. BRAND SHARE ANALYSIS
- 7.3.1. BY TRADITIONAL WATCH
- 7.3.2. BY SMART WATCH
- 7.4. COMPANY PROFILES
- 7.4.1. APPLE INC
- 7.4.1.1. COMPANY OVERVIEW
- 7.4.1.2. PRODUCT PORTFOLIO
- 7.4.1.3. STRENGTHS & CHALLENGES
- 7.4.2. CASIO
- 7.4.2.1. COMPANY OVERVIEW
- 7.4.2.2. PRODUCT PORTFOLIO
- 7.4.2.3. STRENGTHS & CHALLENGES
- 7.4.3. GARMIN
- 7.4.3.1. COMPANY OVERVIEW
- 7.4.3.2. PRODUCT PORTFOLIO
- 7.4.3.3. STRENGTHS & CHALLENGES
- 7.4.4. SAMSUNG
- 7.4.4.1. COMPANY OVERVIEW
- 7.4.4.2. PRODUCT PORTFOLIO
- 7.4.4.3. STRENGTHS & CHALLENGES
- 7.4.5. ROLEX SA
- 7.4.5.1. COMPANY OVERVIEW
- 7.4.5.2. PRODUCT PORTFOLIO
- 7.4.5.3. STRENGTHS & CHALLENGES
- 7.4.6. GOOGLE LLC
- 7.4.6.1. COMPANY OVERVIEW
- 7.4.6.2. PRODUCT PORTFOLIO
- 7.4.6.3. STRENGTHS & CHALLENGES
- 7.4.7. SWATCH GROUP LTD
- 7.4.7.1. COMPANY OVERVIEW
- 7.4.7.2. PRODUCT PORTFOLIO
- 7.4.7.3. STRENGTHS & CHALLENGES
- 7.4.8. HUAWEI
- 7.4.8.1. COMPANY OVERVIEW
- 7.4.8.2. PRODUCT PORTFOLIO
- 7.4.8.3. STRENGTHS & CHALLENGES
- 7.4.1. APPLE INC
LIST OF TABLES
- TABLE 1: COUNTRY SNAPSHOT - CHINA
- TABLE 2: CHINA TRADITIONAL AND SMART WATCH MARKET, HISTORICAL YEARS, 2018-2022 (IN $ MILLION & UNITS)
- TABLE 3: CHINA TRADITIONAL AND SMART WATCH MARKET, FORECAST YEARS, 2024-2032 (IN $ MILLION & UNITS)
- TABLE 4: CHINA TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
- TABLE 5: CHINA TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
- TABLE 6: CHINA TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
- TABLE 7: CHINA TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
- TABLE 8: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
- TABLE 9: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
- TABLE 10: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
- TABLE 11: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
- TABLE 12: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
- TABLE 13: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
- TABLE 14: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
- TABLE 15: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
- TABLE 16: CHINA TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
- TABLE 17: CHINA TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, FORECAST YEARS, 2024-2032 (IN $ MILLION)
- TABLE 18: CHINA TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
- TABLE 19: CHINA TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
- TABLE 20: CHINA TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
- TABLE 21: CHINA TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2024-2032 (IN $ MILLION)
- TABLE 22: CHINA TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
- TABLE 23: CHINA TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
- TABLE 24: LIST OF MERGERS & ACQUISITIONS
- TABLE 25: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
- TABLE 26: LIST OF PARTNERSHIPS & AGREEMENTS
- TABLE 27: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
- TABLE 28: CHINA TRADITIONAL WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
- TABLE 29: CHINA SMART WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
- TABLE 30: CHINA TRADITIONAL WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
- TABLE 31: CHINA SMART WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
LIST OF FIGURES
- FIGURE 1: KEY MARKET TRENDS
- FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
- FIGURE 3: GROWTH PROSPECT MAPPING FOR CHINA
- FIGURE 4: MARKET MATURITY ANALYSIS
- FIGURE 5: MARKET CONCENTRATION ANALYSIS
- FIGURE 6: VALUE CHAIN ANALYSIS
- FIGURE 7: KEY BUYING CRITERIA
- FIGURE 8: CHINA TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2023
- FIGURE 9: CHINA TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH, 2024-2032 (IN $ MILLION)
- FIGURE 10: CHINA TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY TRADITIONAL WATCH - PRODUCT TYPE, IN 2023
- FIGURE 11: CHINA TRADITIONAL AND SMART WATCH MARKET, BY MECHANICAL WATCH, 2024-2032 (IN $ MILLION)
- FIGURE 12: CHINA TRADITIONAL AND SMART WATCH MARKET, BY QUARTZ ANALOGUE WATCH, 2024-2032 (IN $ MILLION)
- FIGURE 13: CHINA TRADITIONAL AND SMART WATCH MARKET, BY QUARTZ DIGITAL WATCH, 2024-2032 (IN $ MILLION)
- FIGURE 14: CHINA TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY TRADITIONAL WATCH - PRICE RANGE, IN 2023
- FIGURE 15: CHINA TRADITIONAL AND SMART WATCH MARKET, BY LOW-RANGE, 2024-2032 (IN $ MILLION)
- FIGURE 16: CHINA TRADITIONAL AND SMART WATCH MARKET, BY MID-RANGE, 2024-2032 (IN $ MILLION)
- FIGURE 17: CHINA TRADITIONAL AND SMART WATCH MARKET, BY LUXURY, 2024-2032 (IN $ MILLION)
- FIGURE 18: CHINA TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, 2024-2032 (IN $ MILLION)
- FIGURE 19: CHINA TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY SMART WATCH, IN 2023
- FIGURE 20: CHINA TRADITIONAL AND SMART WATCH MARKET, BY SMART WEARABLE, 2024-2032 (IN $ MILLION)
- FIGURE 21: CHINA TRADITIONAL AND SMART WATCH MARKET, BY ANALOGUE ACTIVITY WATCH, 2024-2032 (IN $ MILLION)
- FIGURE 22: CHINA TRADITIONAL AND SMART WATCH MARKET, BY DIGITAL ACTIVITY WATCH, 2024-2032 (IN $ MILLION)
- FIGURE 23: CHINA TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2023
- FIGURE 24: CHINA TRADITIONAL AND SMART WATCH MARKET, BY OFFLINE DISTRIBUTION CHANNEL, 2024-2032 (IN $ MILLION)
- FIGURE 25: CHINA TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY OFFLINE DISTRIBUTION CHANNEL, IN 2023
- FIGURE 26: CHINA TRADITIONAL AND SMART WATCH MARKET, BY HYPERMARKET, 2024-2032 (IN $ MILLION)
- FIGURE 27: CHINA TRADITIONAL AND SMART WATCH MARKET, BY JEWELLERY AND WATCH SPECIALIST, 2024-2032 (IN $ MILLION)
- FIGURE 28: CHINA TRADITIONAL AND SMART WATCH MARKET, BY APPLIANCE AND ELECTRONIC SPECIALIST, 2024-2032 (IN $ MILLION)
- FIGURE 29: CHINA TRADITIONAL AND SMART WATCH MARKET, BY OTHER OFFLINE DISTRIBUTION CHANNELS, 2024-2032 (IN $ MILLION)
- FIGURE 30: CHINA TRADITIONAL AND SMART WATCH MARKET, BY ONLINE DISTRIBUTION CHANNEL, 2024-2032 (IN $ MILLION)
- FIGURE 31: CHINA TRADITIONAL WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
- FIGURE 32: CHINA SMART WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
- FIGURE 33: CHINA TRADITIONAL WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
- FIGURE 34: CHINA SMART WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
