Page 32 - The EDIT | Q3 2017

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Discovery
China – A huge market with even bigger opportunities
China is by far the largest market for wearables. The fitness industry in China does not have a long past, but it is growing — not necessarily because of ‘fitness reasons’ though. China has a significant gadget-consuming culture, which is the real
force behind the growing demand for wearables.
It is mainly less expensive activity trackers and smartwatches that sell well in the country. Despite inexpensive activity trackers being the most popular wearable devices in China at the moment, it is
the vast size of the Chinese population that will drive the country’s growth in wearable electronics. (Source: Futuresource Consulting).
China Brand Shares of Wearable Electronics
% volume 2017
On a global scale, Xiaomi is fast catching-up with Fitbit and could soon be the world’s biggest wearables brand.
Wearables are more than just tness trackers
When we hear wearables, we often think about fitness trackers straight away — but wearables, especially in Asia, are not just about fitness. They are increasingly becoming a way of life, infiltrating areas of society that seem unlikely. Almost a quarter of the sales of wearables in Asia are of a product almost unheard of in both Europe and the US: kids’ trackers.
Wearable Device Sales in China, 2014 -2018
billions of Chinese yuan renminbi and % change
Note: excludes smart medical devices
Source: Analsys International Enfodesk, “2017 China Artificial Intelligence (AI) Industry Analysis Series: Smart Voice Usage Edition “April 21, 2017
www.eMarketer.com
The competitive landscape in China is dominated by local player Xiaomi, but newcomers such as Okii, LifeSense as well as the US brand Apple are fighting hard for their share.
THE EDIT ISSUE 7 | Q3 2017