How do wearable devices stand out?

As the growth rate of smartphones and tablets slows down, wearable devices will become a new growth point in the consumer electronics industry. A variety of smart watches, smart wristbands, smart glasses and other wearable products emerge one after another, and behind the bustling, product categories are less, homogenization is more serious, and innovation is not enough.

According to the analysis of the Investment Research Institute, the domestic market for wearable devices is still in its infancy, and the industry chain is still under construction. Most of the products are in the concept and experiment process, and fewer products can produce commercial benefits. But on the other hand, when the entire wearable market has not yet formed a scale and the business model is not completely clear, it is also the time when the industry opportunity comes.

The new favorite of the consumer electronics industry

According to IDC data, there will be more than 19 million wearable devices worldwide in 2014, which is three times that of 2013. From now until 2018, shipments of wearable devices will have a compound annual growth rate of 78.4%. In the end, it will reach a world carrying capacity of 111.9 million in 2018.

In the domestic market, according to statistics, the market size of China's wearable devices reached 900 million yuan in 2013, an increase of 80% over the previous year. It is expected that the market size of the wearable devices in China will continue to increase in 2014, reaching 2.2 billion yuan.

In terms of market demand, according to a recent survey by the Consumer Electronics Association, 13% of consumers with a desire to purchase dedicated wearable fitness equipment will quadruple in the next 12 months, compared to 3% in the same period last year. . In China, according to Baidu's research report on wearable device users, 90% of users are interested in purchasing wearable devices. It can be seen that the demand and scale of wearable devices are continuously expanding.

With a series of star products such as Google Glass (Google Glass), Pebble Smart Watch, Jawbone Up and so on, wearable devices have become the new darling of the consumer electronics industry. From the perspective of the global market, Google, Apple, Samsung and other major technology manufacturers have laid out the field of wearable devices in advance. China is also led by Baidu, Shanda and other companies to set off a wearable revolution. At present, wearable devices mainly include watches, bracelets, glasses, rings, wallets, and health peripherals.

From the perspective of the industry chain, the upstream of the wearable industry mainly includes sensors, chips, materials, displays, etc., in which sensors are the core; the middle reaches are mainly interactive solutions, including cloud technology and voice technology; the terminal equipment downstream of the industry chain is the current market. The dominant, the competition is more intense.

Domestic and foreign IT giants and capital compete for layout

In foreign countries, wearable devices are sought after by domestic and foreign IT giants and capital.

In May 2013, Jawbone spent $100 million to acquire competitors, wearable health products manufacturer BodyMedia; in the third quarter of 2013, Microsoft reported that it plans to acquire Osterhout Design Group (ODG) assets and patents for $200 million. To speed up access to the wearable device market; at the same time, Google confirmed the completion of the acquisition of the smart watch company WIMM Labs team to advance the progress of the Google smartwatch project.

In March 2014, three major IT giants Intel, Google and Facebook announced their investments in the field of wearable devices. Intel's investment target is wearable health tracking equipment manufacturer Basis Science, the acquisition amount is about 100 million US dollars; Facebook acquired virtual reality glasses manufacturer Oculus VR company, the acquisition amount is 2 billion US dollars, this is Facebook's first acquisition of hardware manufacturing Business; Google has partnered with the well-known Italian eyewear manufacturer LuxotTIca ​​Group to start looking for help from professional eyewear manufacturers.

The aforementioned acquisitions by the giants aim to strengthen their technological leadership, in order to cope with the expected market competition and complete the early layout of products, applications and ecology.

In terms of investment, wearable technology maker Fitbit received a $43 million financing from Softbank in August 2013 to increase the speed of new product development and expand its retail network, and plans to expand its product sales to the entire international market, including the Asia Pacific region. . As one of its main competitors, JawboneUp received $113 million in financing by way of debt-equity swaps to increase the supply of existing products and meet the growth in customer demand.

In addition, the establishment of a number of wearable funds has further accelerated the pace of the giants to create an ecosystem in the wearable market: in April 2013, Google Ventures and Andreessen Horowitz, KPCB set up the Glass CollecTIve platform to provide funding for Google Glass App developers and Service; In June 2013, Leap MoTIon's Investor Highland Capital invested $25 million to set up a fund called Leap Fund to help companies build Leap MoTIon technology platform and promote the application of gesture recognition technology to education, security, medical care, etc. Multiple industries; in December 2013, Foxconn announced that it will establish an investment fund of approximately NT$200 million to fund startups to develop new wearable technologies, devices and software applications, and extend their reach to software, cloud computing and telecommunications services. And an intelligent future.

With the global rise of the wearable device market, major technology companies in China have begun to lay out the field of wearable devices.

Since 2013, Baidu, Shanda, and Qihoo 360 have all taken action on wearable devices. Baidu has established its own wearable device brand “dulife”, launched Boom Band smart bracelet, MUMU blood pressure meter, Latin intelligent body measuring instrument and other products; 360 launched the “360 Children Guardian” bracelet, the product is aimed at children, the shape is between Between the bracelet and the watch; Shanda's Husk Electronics has released two smart wearable devices, including the smart ring GEAK Lord of the Rings and the smart watch GEAK Watch.

Generally speaking, from the current situation, wearable devices will be a market defined by giants. Industry giants such as Google, Apple and Samsung, as well as traditional PC manufacturers such as Dell and Asus, and Internet companies such as Shanda and Baidu have entered the market. There are not many opportunities left for start-ups.

In the domestic capital market, angel investment institutions and venture capital institutions have also laid out the wearable field, mainly in the field of downstream equipment. According to the incomplete statistics of the Investment Research Institute, from 2013 to the present, there have been 30 investment cases in the wearable industry. The products are mainly concentrated in the fields of watches, wristbands, medical health, etc. Pre-Investment in PreAngel, Shenzhen Venture Capital, Yingnuo Angel, etc. active.

Opportunities and challenges coexist

If 2013 is the first year of the wearable industry, then 2014 will be a year of booming innovation in the wearable industry.

First of all, from the perspective of the policy environment, in 2014, when deepening the implementation of the innovation-driven development strategy, wearable products will be supported by more incentives for innovative industrial policies. Second, from the perspective of development, the technology industry will become more intelligent, digital and In 2014, mobile products will be favored by consumers. In the market demand, in 2014, wearable products have become one of the most anticipated products. Finally, from the perspective of profitability, in 2014, when the Chinese economy was undergoing transformation and upgrading, the smart wearable industry has high growth potential and can exploit large profit margins.

At the same time, compared with the foreign markets with high level of innovation technology and rich product categories, the domestic market for wearable devices is less and the homogenization is more serious, mainly in the form of bracelets, watches, glasses and other products. Distributed in the fields of entertainment, fitness, health care and other fields. On the other hand, the current domestic wearable device market is basically similar to the previous Internet and mobile Internet development path in terms of actual technology path selection, that is, most of the local emerging wearable products are still copying foreign projects to the domestic market. To do it, the imitation color is too strong, lacking true originality. In addition, some important links in the industry chain, such as sensors, interactive technologies, and sophisticated manufacturing processes and processes, need to be improved.

According to the analysis of the Investment Research Institute, the domestic market for wearable devices is still in its infancy, and the industry chain is still under construction. Most of the products are in the concept and experiment process, and fewer products can produce commercial benefits. But on the other hand, when the entire wearable market has not yet formed a scale and the business model is not completely clear, it is also the time when the industry opportunity comes. In the process of market exploration, if you can find the real needs and interests of users, and produce wearable devices that can solve practical problems and meet user habits, it is easy to take the lead and lead a new era. It is expected that in the future, with the advancement of technology and the renewal of people's concepts, the market for wearable devices will rapidly develop and mature gradually, especially in the fields of sports and fitness, medical health and other fields.

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