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1 Synthèse du marché
1.1 Introduction
The wearableelectronics market refers to the wearable technology sector. These products integrate advanced features and connectivity to improve daily life, health, wellness, and user experience. This sector offers:
- Smartwatches: Digital watches with advanced features such as physical activity tracking, smartphone notifications, sleep monitoring, and health apps.
- Smart headphones: Headphones with advanced features such as active noise cancellation, touch control and integration with voice assistants.
- Fitness bracelets: Wearable devices that monitor physical activity, heart rate, calories burned and provide detailed analysis of sports performance.
- Smart glasses: Glasses with built-in smart features such as real-time information display, navigation, camera and wireless connectivity.
- Tech clothes: Clothing with built-in sensors for monitoring physical performance, thermoregulation, heart rate monitoring and other advanced features.
Over the years, wearable devices have made significant technological advances. The first wearable device dates back to the1960s, invented by Edward Thorp and Claude Shannon, who developed a wearable computer for cheating at roulette in a casino. In the decades that followed, companies such as Casio, Seiko and Pulsar introduced watches with extra functions, such as calculators and stopwatches. In the 2000s, the advent of MP3 players and fitness trackers marked a turning point in the wearable device market. The technology attached to these devices evolved rapidly, offering increasingly advanced features and better battery life.[MarinoLuigi] Leading companies such as Apple, Samsung, Fitbit and Garmin have launched innovative products that have contributed to the development of the market.
The global wearable technology market has been valued at $61.30 billion in 2022 and is expected to grow at a compound annual growth rate(CAGR) of 14.6 percent from 2023 to 2030.
The study focuses on the wearable electronics market in Italy and provides a detailed overview of trends, industry dynamics, and growth opportunities. For information on complementary markets, such as the Internet of Things (IoT) or smartphones, please refer to the specific studies available in the businesscoot catalog.
1.2 The global market
The global wearable electronics market has been valued at $**.** billion in **** and is expected to expand at a compound annual growth rate(***) of **.* percent from **** to ****. The growing adoption of inteeligent wearable technology products among consumers drives the industry's growth.
Global wearable electronics market World, ****-****, in billions of dollars ...
1.3 The Italian market
In****, according to the researchConsumer ****, carried out by Assorologi, the*,*%of the population (***) havepurchased a smart watch.
To get an approximate size of the market in Italy, given the lack of specific data, the number of Smart Watch owners is examined. The relative figure has increased gradually over the past * years. ...
1.4 Import-Export
Regarding theimport-export of wearable devices, reference is made to the HS code closest to the category: ******: communication apparatus (***); machines for receiving or storing voice, images or other data, including switching and routing apparatus.
Looking at the chart below, it can be seen thatItaly is a net importer of such devices. However, ...
1.5 Impact of covid-19
Impact on the market and consumer behavior
Demand for wearable devices declined during the covid-** pandemic, leading to a decline in sales.
Overall demand for such devices remained sluggish as individuals prioritized other needs. Wearable accessories such as smartwatches, wristbands, and trackers have seen little expansion due to the ban on ...
2 Analyse de la demande
2.1 Demand in Italy
Demand for wearable devices on the rise globally
Demand for wearable devices has rebounded, with sales of smartwatches, fitness bracelets and other types of tech items starting to grow again after a period of stabilization in ****.
There were ** million units marketed in the second quarter of the year, up * percent from ...
2.2 Demand drivers
Cross-cutting application areas
The rapid diffusion of wearable devices has been driven primarily by the consumer world where they find their greatest popularity in the fitness/wellness arena. In fact, accessories such as electronic bracelets, smart watches and the like allow people to be able to monitor their vital parameters (***) to ...
2.3 The geographical distribution of demand
In order to understand how the demand for wearable devices is distributed in Italy, we report the geographical distribution by region in relation to the queries made on Google with topic: the Smart Watch and in particular category: Purchasing. The Smart Watch constitutes a type of wearable technological accessory, but it ...
2.4 New trends in demand
Smart rings
Propelled by innovative startups but with little media impact, these devices are currently not that popular, but perhaps in the future they could become so, and Apple's latest patent filed in August **** may be the tipping point.
A smart ring, is a wearable electronic device with several components that ...
3 Structure du marché
3.1 The market structure
Among the manufacturers with the best numbers are Huawei and Xiaomi , which, thanks to high-growth markets such as India, posted strong sales volume gains.
At the individual brand level, Apple retains the top position despite a * percent decline from the second quarter of ****. Its market share is ** percent, with *.* million devices ...
3.2 The value chain
The following are the main steps that generate value in the wearable electronic device market.
3.3 Distribution
Regarding the distribution channels of one of the most popular wearables, namely the Smart Watch, we refer to data collected from a research conducted by Assolorogi.
Looking at the graph below, it can be seen that the online channel garners the preference of almost half of the respondents (***). In particular, the ...
3.4 The main players
The following are the major global players in the wearables industry and specifically with reference to smartwatches.
Apple: a technology company based in Cupertino, California, is globally renowned for its innovative and high-quality products, which include iPhones, iPads, Macs, Apple Watch, and various software services. Founded in **** by Steve Jobs, Steve ...
4 Analyse de l'offre
4.1 Supply analysis
Wearable Devices are technologically sophisticated electronic devices that can be worn by users or attached to clothing. They can be of different types and cover different areas of use, from health to sports.
"Wearable devices" (***) refers to a wide range of smart devices that can be connected to other electronic ...
4.2 The prices
Prices of wearable electronic devices vary widely depending on the type, brand, features, and functionality offered.
To get an overview of prices, we refer to the Smart Watch product and report the different types commercially available, differentiated by brand and found on the e-commerce site of a large electronics chain (***).
In ...
4.3 New supply trends
Future medical applications of wearable devices
To date, wearable devices for monitoring one's parameters are already available on the market, as are more wellness-related devices such as smartwatches that indicate calorie expenditure and medical devices, the main allies of health monitoring.
Within the next five years, more and more direct consumer/patient ...
5 Règlementation
5.1 The legislation
In Italy, as in the rest of the European Union, legislation regarding wearable devices focuses primarily on data security, privacy, and electronic device regulations.
Data protection and privacy (***)
The EU General Data Protection Regulation (***) applies to personal data collected by wearable devices. This includes informed consent for the collection and processing ...
6 Positionnement des acteurs
6.1 Segmentation
- Apple
- Huawei
- Xiaomi
- Noise
- Fire-Boltt
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Latest news
Xiaomi prepares its grand entrance into the automotive world - 22/11/2023
- Xiaomi will launch its first electric vehicle model early next year.
- The vehicle will be a five-seater sedan.
- The car, dubbed "SU7", will be powered by batteries from CATL or BYD. Xiaomi has partnered with several manufacturers, including BAIC.
- The vehicle could be manufactured in a new Xiaomi factory on the outskirts of Beijing, which would have an initial annual production capacity of 150,000 units.
- Huawei, seeking to diversify its activities, has also entered the automotive sector.
Huawei Mate 60 reignites China-US cold war - 09/09/2023
- Huawei recently launched a new smartphone, the Mate 60 Pro +, only in China.
- Mate 60 Pro + boasts 1 terabyte of storage memory in its top-of-the-range version.
- It offers satellite calling, making it possible to dispense with 4G-5G in remote locations.
- The smartphone uses a 7-nanometer etched 5G processor, designed by Huawei and manufactured by SMIC, a Chinese semiconductor company.
- Huawei has avoided US sanctions preventing the company from purchasing 5G chips from the US by producing its own processor.
- Huawei will no longer have access to machines made by Dutch manufacturer ASML from January 2024.
Virtual reality headsets, new Macs - 05/06/2023
- Apple plans to unveil its first virtual and augmented reality headset.
- The headset is expected to cost $3,000
- Apple expects to sell around 900,000 units in the first year
- Several Mac and iPhone applications will be integrated into the headset, such as Camera, Contacts, FaceTime, Email and Messages, Maps, Notes, Music, Photos, Safari and Weather.
Xiaomi: 18.9% drop in sales - 24/05/2023
- Telephony market decline in China in Q1 2023: 11% (according to Canalys)
Xiaomi lays off 10% of its workforce - 20/12/2022
- The world's third-largest smartphone manufacturer is laying off 10% of its 35,000-strong workforce
- only Chinese employees affected
- 14% of the global smartphone market
- number two in France and number three in Germany
- It has also had to temporarily close many of its 10,000 stores due to the Covid-19 epidemic in China
Xiaomi to overtake Apple in 2021 - 09/02/2022
- In 2021, Xiamo overtakes Apple in smartphone sales with 23% market share in France versus 22% for Apple
- Xiaomi comes third in the last quarter of 2021 worldwide with 12% market share
- Apple unable to honor all requests for its iPhone 13
- Samsung retains top spot in France
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The wearable electronics market | Italy
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