Source: Economic Daily
The rapid development of generative artificial intelligence has injected new impetus into the wearable device market. With technology giants launching new products one after another, it brings consumers more diverse product choices while the market competition becomes more intense.
Samsung Electronics recently held a Galaxy new product launch event in China, launching multiple smart wearable products, among which the newly launched Samsung Galaxy Ring smart ring has attracted much attention from the outside world. Wearing a small ring on your hand can provide services such as heart rate warning, sleep tracking, fitness data recording, sedentary reminders, etc. You can also take photos and turn off alarms through gestures. Industry analysis believes that with Samsung's brand influence and competitiveness in the consumer electronics field, the new product launched this time is expected to bring new vitality to the wearable market.
At present, the functions of smart wearable devices mainly focus on health monitoring and cross terminal interactive linkage, which can be seen as an extension of mobile phones. In 2011, Jawbone, the pioneer of smart wristbands, launched its first sports wristband product, marking the beginning of the development of the smart wearable industry. Apple Watch, AirPods and other products have pushed the popularity of the wearable market to a climax. According to data released by market research firm International Data Corporation (IDC), the global shipment of smart wearable devices increased from 135 million units to 533 million units from 2017 to 2021. But after 2022, the innovation of wearable devices will be insufficient, demand will weaken, and shipment volume will significantly decline. Many manufacturers have turned their attention to categories such as glasses, headphones, rings, etc. For example, the "RAY-BAN | Meta" series of smart glasses, jointly launched by tech giant Meta and French eyewear manufacturer Essilor, is equipped with a camera, microphone, and speaker on the frame. It can take photos and videos and share them directly on social platforms. After iteration, the second-generation glasses are widely popular, with sales exceeding one million units in just four months, becoming one of the most popular smart wearable devices in recent times.
The rapid development of generative artificial intelligence has injected new impetus into the wearable device market. At the beginning of this year, the "RAY-BAN | Meta" series of glasses launched AI functionality. Some analysts believe that AI and lightweight are the advantages that attract consumers to this type of glasses. Oura, a leading Finnish company in the smart ring industry, has launched a personal AI health consultant on its product Oura Ring, which can provide users with short-term and long-term health advice. The product Opuz Ring from Australian medical device company Opuz combines new sensing technology with artificial intelligence to monitor users' blood sugar at any time without the need for needles, skin patches, or finger punctures. The wearable AI computer Ai Pin launched by American technology company Humane is an attempt to "replace mobile phones". This micro projection placed on clothing can be projected onto the palm of the hand for interaction, aiming to serve as an assistant and "second brain" for users... With AI empowerment, wearable devices are expected to bring users a smarter and more convenient experience.
IDC predicts that global wearable device shipments will reach 559.7 million units in 2024, an increase of 10.5%. It is expected that by the end of 2028, the shipment volume will increase to 645.7 million units, with a compound annual growth rate of 3.6%. With technology giants launching new products one after another, it brings consumers more diverse product choices while the market competition becomes more intense. Whether it is deeper collaboration with smartphones or independent development by separating from the smartphone ecosystem, the innovative products emerging in the field of smart wearable devices are worth looking forward to.
