Executive Summary

Aug 2019
PROSPECTS
Positive performance for all devices within wearable electronics

Wearable electronics continued to record another year of double-digit growth in both retail volume and current value terms in 2019 in Hungary. This was supported by the positive performances of all devices within the category, including activity bands, which bucked the declining trend of other countries, providing a simple entry-level product to older consumers who may not want or understand more advanced activity or smart wearables.

Smart wearables will continue to appeal to tech-driven younger Hungarians although declining unit prices will expand consumer reach

Smart wearables continued to record a strong performance in 2019, although its higher unit prices compared to activity wearables, even analogue activity watches, meant that its overall share within wearable electronics remained lower. However, with Hungarians’ increasing disposable incomes and greater interest in following healthier lifestyles, in addition to the rising trend for smart technology, smart wearables continues to attract a certain affluent consumer segment of young tech-driven Hungarians.

Digital activity watches mainstay of category offer affordable options while analogue offers consumers classic luxury look

Activity wearables continued to dominate retail volume sales of wearable electronics in 2019, supported by the ongoing positive performance of activity watch (digital), which is the largest category. Digital activity watches offer consumers the chance to own a multisports watch that can track a number of activities and offer various functions, but are more affordable than smart wearables and analogue activity watches.

COMPETITIVE LANDSCAPE
Another year of strong sales for Xiaomi in activity wearables

Xiaomi Corp retained its leadership of activity wearables in 2019, after taking over from Fitbit Inc the previous year. The Chinese player continued to gain strong retail volume share, offering consumers innovation with affordability.

Samsung feels pressure from innovative competitors

Samsung retained its leadership of smart wearables in 2019, although it lost significant retail volume share to its closest competitors Huawei and Fitbit in an increasingly intense landscape. However, Samsung continues to offer the widest range of smart wearables, with its Gear Sport model, which has waterproof capabilities suitable for swimmer, remaining popular.

New launches of smaller brands may struggle to make impact within increasingly consolidated landscape

A number of higher-end brands are venturing into wearable electronics, with launches from Fossil and Michael Kors, although their availability is likely to be limited to watch specialists and internet retailing in Hungary. Fossil now offers new touchscreen smartwatches which are Android and iPhone compatible with a number of features including allowing consumers to pay using Google Pay wherever mobile payments are accepted.

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Wearable Electronics in Hungary

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Overview

Discover the latest market trends and uncover sources of future market growth for the Wearable Electronics industry in Hungary with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Wearable Electronics industry in Hungary, our research will save you time and money while empowering you to make informed, profitable decisions.

The Wearable Electronics in Hungary market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Wearable Electronics in Hungary?
  • What are the major brands in Hungary?
  • What is the growth rate for Wearable Electronics in Hungary?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Electronics market research database.

Wearable Electronics in Hungary - Category analysis

HEADLINES

PROSPECTS

Positive performance for all devices within wearable electronics
Smart wearables will continue to appeal to tech-driven younger Hungarians although declining unit prices will expand consumer reach
Digital activity watches mainstay of category offer affordable options while analogue offers consumers classic luxury look

COMPETITIVE LANDSCAPE

Another year of strong sales for Xiaomi in activity wearables
Samsung feels pressure from innovative competitors
New launches of smaller brands may struggle to make impact within increasingly consolidated landscape

CATEGORY DATA

Table 1 Sales of Wearable Electronics by Category: Volume 2014-2019
Table 2 Sales of Wearable Electronics by Category: Value 2014-2019
Table 3 Sales of Wearable Electronics by Category: % Volume Growth 2014-2019
Table 4 Sales of Wearable Electronics by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Wearable Electronics: % Volume 2015-2019
Table 6 LBN Brand Shares of Wearable Electronics: % Volume 2016-2019
Table 7 Distribution of Wearable Electronics by Channel: % Volume 2015-2019
Table 8 Forecast Sales of Wearable Electronics by Category: Volume 2019-2024
Table 9 Forecast Sales of Wearable Electronics by Category: Value 2019-2024
Table 10 Forecast Sales of Wearable Electronics by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Wearable Electronics by Category: % Value Growth 2019-2024

Consumer Electronics in Hungary - Industry Overview

EXECUTIVE SUMMARY

Increasing polarisation within consumer electronics in Hungary
Increasing demand for smart functions within Hungarian homes
Samsung consolidates leadership of consumer electronics with wide innovative portfolio
Internet retailing continues to gain share of distribution
Stable overall performance within consumer electronics as consumers continue to embrace portable and smart devices while discarding others

MARKET DATA

Table 12 Sales of Consumer Electronics by Category: Volume 2014-2019
Table 13 Sales of Consumer Electronics by Category: Value 2014-2019
Table 14 Sales of Consumer Electronics by Category: % Volume Growth 2014-2019
Table 15 Sales of Consumer Electronics by Category: % Value Growth 2014-2019
Table 16 NBO Company Shares of Consumer Electronics: % Volume 2015-2019
Table 17 LBN Brand Shares of Consumer Electronics: % Volume 2016-2019
Table 18 Distribution of Consumer Electronics by Channel: % Volume 2014-2019
Table 19 Forecast Sales of Consumer Electronics by Category: Volume 2019-2024
Table 20 Forecast Sales of Consumer Electronics by Category: Value 2019-2024
Table 21 Forecast Sales of Consumer Electronics by Category: % Volume Growth 2019-2024
Table 22 Forecast Sales of Consumer Electronics by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources