CHINA TECH EVOLUTION-WEARABLE DEVICES MARKET
In this article we will take a deeper look at the evolution, in the Chinese market, of wearable devices, an high-tech trend not to underestimate, which is growing fastly thanks to the technological development and the interest that makes in the society. A chart will help us to understand better this trend and to have some key numbers with a projection until 2019.
The wearable devices market in China is more and more a profitable way since six years, with not particularly signs of slowing down. It had started with the appear of few models in the market by numerous tech company brands, Apple it was one of those with the creation of the well-known Apple watch which was launched in 2015 and had a big success between the tech-savvy Chinese consumers and especially between the middle class inclined to rise up to the high-class. Another significant success today is due to several factors which includes, 415 million new millennials willing to spend more on technological devices and health related products and the change of mentality of the consumers to be more aware of healthy lifestyle. The importance of the wearable devices is shown in the figure N1 that analyze the growth trend from the 2015 with an expected forecast to the 2019. The black bars indicate the numbers in millions of the adult who used to wear the wearable devices, where the grey line tells the percentage of people using wearable devices using internet. As we can see the number of people using those devices had grown very fast, passing from a number of 66.9 million users in 2015 to 167 million in 2018 with a growth percentage of 149,62%. A drastic growth is shown between 2015 and 2016 increasing from 66.9 million to 116.2 million, this is an important data since in that year Apple launched the Apple watch. Concerning the growth of internet users there is a consistent gap between the 2015 with a poor percentage of 11% of the total wearable device users going up to 18% in 2016 with an increase of 7%. From 2017 to 2018 the percentage is quite stable with a minimum growth. In conclusion the bar chart, analyze the future data forecast, where is shown a percentage of 24.5% regarding the internet users and going from 167 mn of adult wearable users of 2018 to 187.2 mn in 2019 with a growth of 12% so this is an interesting market since there is and there will be in the future a considerable progression of users and people interested in this field and in 2019 wearable devices in China will overtake the US market, according to e-Marketers forecast.
Wearable device’s users in China from 2015 with a projection until 2019