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Wrist war started: "smart watch + health" is the key to overtaking in corners?
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Wrist war started: "smart watch + health" is the key to overtaking in corners?

  • Time of issue:2021-08-21

Wrist war started: "smart watch + health" is the key to overtaking in corners?

(Summary description)In recent years, mobile phone manufacturers have focused their attention on the competition of "small boxes of a few centimeters" on the wrist.

At present, the world's top six mobile phone manufacturers have completed the layout of smart watch product lines.

What is the charm of this small box with a length of only a few centimeters? Attracting more and more mobile phone manufacturers and Internet giants to join the game?

  • Time of issue:2021-08-21
Information

In recent years, mobile phone manufacturers have focused their attention on the "small box of a few centimeters" on the wrist in competition.

Currently the world’s top six mobile phone manufacturers have completed smart watches< /a>Product line layout.

What is the charm of this small box that is only a few centimeters in length? Attract more and more mobile phone manufacturers and Internet giants to join the game?

And in this competition, where will the smartwatch head in the future? Combining "health services" is the key to overtaking in curves?

Smart watches“ defeat” traditional watches

More than 400 years ago, smart watches were invented as timekeeping tools, allowing everyone to gain control over time. For many years, traditional watches have been dominating users' "wrists". When smart watches appeared, the status of traditional watches gradually began to shake.

The most essential difference between traditional watches and smart watches lies in their intelligent functions. The former generally only has the functions of watching the time and changing the dial, while the latter can receive information and listen to music. , Detect health data and install APP, similar to a smart phone.

However, the development process of smart watches has not been smooth sailing. It has also experienced a rugged development route from niche commodities to products needed by the general public. It has been questioned and complained by the market. The provocations of traditional watch factories and so on... The general development process consists of three processes: "exploration period, market launch period, and rapid development period".

Nowadays, smart watches have successfully achieved “overtaking” successfully occupying everyone’s wrists, and sales have surpassed traditional watches.

Take Apple Watch, the representative of smart watches, as an example. According to a market research company Strategy Analytics, the sales of Apple Watch, Apple’s smart watches in the United States, are far in 2019. Over the entire Swiss watch industry. Global shipments of Apple Watch in 2019 were 31 million pieces, while the total shipments of all Swiss watch brands totaled 21 million pieces.

Smart watches become sweet and delicious,

Can it really meet user needs?

As smart watches have entered a stage of rapid development and entered the stage of public acceptance, this has caused the nuggets of technology giants, and fierce competition in the market is in full swing.

In recent years, a large number of mobile phone manufacturers at home and abroad, such as Apple, Samsung, Huawei, Xiaomi, OPPO, etc., have been ready to launch smart watch products; smart watch manufacturers It also continues to make efforts, including Garmin Fitbit, Zepp, etc.; even e-commerce giant Amazon has also added a foot, launching a health bracelet called "Halo".

Thanks to the continuous advancement of sensors, chips and algorithms, more and more functions are now packed into the "small box of a few centimeters" at the wrist. , Everyone wants to get a piece of the battle for the "small box of a few centimeters". Smart watches are rising, but can they really meet the needs of users?

1. Smart watches have entered a stage of rapid development and have gradually received widespread attention and recognition. However, smart watches are still a niche "toy".

Data shows that in 2014, global shipments of smart watches were 4.6 million units, a growth rate of 142%. Of these 2.7 million units, Samsung accounts for nearly half. At present, Apple is a company that occupies half of the industry's market share. It has increased the overall sales of smart watches, but this has also forced a large number of watch manufacturers out of the game, attracting more and more mobile phone manufacturers to enter the game.

It can be known that the actual shipment volume of smart watches has increased, but this may be short-lived, and its stability has to be further studied.

2. Unlike mobile phones, smart watches are not just products. Smart watches are more and more like a miniature mobile phone bound to everyone's wrist, but compared with mobile phones, its functions are still lacking.

Mobile phones give users attributes such as communication, social interaction, and life, and they are inseparable from consumers. Smart watches are imitating routes and cannot replace mobile phones. The new technologies such as AI interaction and health detection in their functions have attracted many young people to use, but this attribute cannot become the habit of most people.

So in summary, smart watches still cannot meet the needs of users. Then why are the giants fighting fiercely?

In fact, the core reason why giants will actively enter the watch field is the added value of smart watches——“health services”.

“smart watch + health”

Is the key to overtaking in a curve?

It is understood that the health service of a smart watch is actually a variety of sensor devices built into the smart watch, which can monitor the wearer’s heart rate, blood oxygen and sleep Wait for health data; after multi-dimensional data collection, the data will be connected to the health platform, and then the health risk of the wearer will be assessed, and personalized health management solutions will be developed for users.

In short, what the giants are looking at is the added value of smart watches “health” tapping potential in the market.

Now that the smart watch market has been dominated by Apple, more and more giants have begun to compete for the position of this small box, giving smart watches added value "health services" Is it possible to overtake in a curve?

First, the epidemic has awakened the public’s awareness of health. The main consumer in the Z era also pays more attention to health preservation. The product market for "health concepts" is huge.

In terms of the size of the healthcare market, it is three times larger than the global smartphone market. Secondly, a few years ago, no one seemed to care about health-related concepts, but this year, due to the impact of the epidemic, the public’s health awareness has been awakened, and business opportunities have gradually emerged. Products, company sales and stock prices related to health concepts have further increased. rise.

To a certain extent, smart watches are now combined with health services. In fact, everyone uses smart watches as health tools. Giants are enjoying the epidemic The dividends brought by the public health anxiety.

Secondly, while smart watches combined with health management platforms change users’ health The public just needs products to work hard.

At present, under wearable devices, “smart wearable devices + health insurance + services” business model has great potential and can create the sustainable development of the industry .

Insurance companies use wearable devices to monitor the wearer’s physical condition information, and specifically design insurance products for people with sub-health and chronic diseases, which opens new doors for the insurance industry At the same time, it will connect with users more accurately and pass their information to third-party health platforms to formulate a reasonable health management plan. At the same time, it will greatly meet the real health needs of users.

In addition, this will boost the commercialization of smart watches, bringing a steady stream of B-side merchants, and C-side user stickiness may be more stable.

Thirdly, only health testing cannot achieve overtaking in a curve. The key to overtaking in a curve is to create a closed loop of the health service ecosystem.

As mentioned above, the sound development of the business model actually requires the creation of a "one-stop" service, combining health insurance and third-party health platforms to provide users with standardization , Tailor-made health services.

If smart watches provide health monitoring services solely, this kind of competitiveness is obviously not enough. Fangwei's health services open up the incremental market in the Red Sea competition.

Under focal length wearable devices,

Where is the smart watch heading in the future?

Smart watches have entered the stage of mass acceptance, with the intention of becoming a “just-needed” product on everyone’s wrists. With the influx of giants and fierce competition on the track, where will smart watches go in the future?

Currently, according to data from the market research agency Counterpoint, the global smartwatch market revenue in the first half of 2020 has increased by 20%; IDC data also shows that the second place in 2020 China's wearable device market rebounded in the quarter, with a year-on-year growth of 4.1%.

From the data of the two organizations, smart watches have gradually been loved by the public, and the market prospects are very broad. And where the smart watch is headed in the future, first of all depends on its role playing.

First of all, smart watches imitate the functional route of smart phones to the masses, and unlike mobile phones, smart watches are not just products that are currently needed. And what role it plays among users determines its future direction.

It is not difficult to see from the above that smart watches now play the role of the user“health assistant”, so it is combined with health insurance finance and health management platforms to develop together , Is the general direction of the future development of smart watches.

Although the smart watch market and industry appear smaller compared with smart phones, its status will gradually rise in the increasingly fierce competition for smart wearable devices. Smart watches are more popular among young and middle-aged people. They can lead fashion and act as a "health assistant", playing a role that traditional watches cannot replace.

Secondly, with the influx of giants and the escalation of competition, the battle to upgrade smart watches will also accelerate the invasion.

While giants want to get a share in the field of smart watches, they need to step out of traditional design thinking. It is important to innovate and play different cards, but the priority is to build itself Technical barriers promote the smart watch industry to an industry with high barriers to entry, creating an industry moat.

Finally, it’s worth noting that for smart watches, most of their systems use Android. While Android manufacturers have not yet perfected the watch application market, upgrading competition in the future may complement the application ecosystem. And this is the shortcoming that needs to be made up urgently, and it is also an opportunity to achieve a breakthrough.

In addition, the current smart watch is compatible with different models of mobile phones, which is an advantage. But this year when the smart watch boss Apple launched the Apple Watch SE which is compatible with other mobile phones, the smart watch competition landscape may change.

In the future, companies that manufacture smart watches will have to make breakthroughs in technology and design before they can face the battle for "small boxes of a few centimeters".

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