Executive Summary

Aug 2019
PROSPECTS
Wearable electronics records strongest performance in consumer electronics

Wearable electronics was the strongest performing category within consumer electronics in Taiwan in both retail volume and current value growth terms in 2019. While it is a relatively new category to the country, its strong performance was supported by innovative launches and growing consumer appreciation for the features and benefits of smartwatches and activity watch (analogue) products.

Consistent innovation of smart wearables appeals to Taiwanese consumers looking to monitor their health and fitness

While activity wearables (digital) continued to hold the largest share of wearable electronics in retail volume terms, smart wearables holds the highest share in current value terms, due to the latter’s significantly higher unit price, although the price is predicted to decline over the forecast period as an increasing number of competitors enter the landscape. Smart wearables are increasingly launching products that offer connectivity and support the installation of third party apps, while easier connection with electronic payment including i-Pass and EasyCard helps consolidate the category’s consumer base that regularly travels on public transport, particularly in Northern Taiwan.

Electronics and appliance specialist retailers rapidly loses ground to internet retailing

Electronics and appliance specialist retailers remained the leading distribution channel for wearable electronics in retail volume terms in 2019. With wearable electronics regarded as fairly new technology in Taiwan, many consumers are still unfamiliar with how they function and therefore appreciate receiving advice from in-store sales assistants before making a purchase.

COMPETITIVE LANDSCAPE
Xiaomi strengthens overall leadership with dominance of activity wearables

Xiaomi strengthened its leadership of wearable electronics in 2019 due to its full coverage across the category, offering activity as well as smart wearables, while remaining the only brand left in activity bands. The brand originally gained a consumer base through the latter through its lower-priced products, but went on to launch its first smart wearable, Amazfit in Taiwan in August 2018, which should continue to gain ground over the forecast period.

High potential of wearable electronics encourages further new launches

With wearable electronics offering such strong potential for higher growth in Taiwan over the forecast period, an increasing number of brands may be encouraged to enter, with smartphone brand Huawei launching digital activity wearables and smart wearables with Huawei Band 3 Pro and Huawei Watch GT. TicWatch initially used crowdfunding on Kickstarter to fund its second generation product TicWatch2.

Garmin’s appeal to serious athletes leads to greater share gain in smart wearables

Garmin strengthened its lead of smart wearables in 2019, gaining further retail volume share from Samsung and benefiting from the exit of Sony in 2018. Garmin only entered the category in 2017 but had gained leadership by 2018, capitalising on its strong brand reputation in in-car navigation.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Wearable Electronics industry in Taiwan 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 Taiwan, our research will save you time and money while empowering you to make informed, profitable decisions.

The Wearable Electronics in Taiwan 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 Taiwan?
  • What are the major brands in Taiwan?
  • What is the growth rate for Wearable Electronics in Taiwan?

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 Taiwan - Category analysis

HEADLINES

PROSPECTS

Wearable electronics records strongest performance in consumer electronics
Consistent innovation of smart wearables appeals to Taiwanese consumers looking to monitor their health and fitness
Electronics and appliance specialist retailers rapidly loses ground to internet retailing

COMPETITIVE LANDSCAPE

Xiaomi strengthens overall leadership with dominance of activity wearables
High potential of wearable electronics encourages further new launches
Garmin’s appeal to serious athletes leads to greater share gain in smart wearables

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 Taiwan - Industry Overview

EXECUTIVE SUMMARY

Consumers demand greater innovation before committing to purchasing in saturated market
Smart appliances and multifunctionality increasingly appeal to tech-savvy consumers
Samsung strengthens leadership, while Apple gains one position
Electronics and appliance specialist retailers continues to lose consumers to internet retailing
Innovation and multifunctionality will continue to dictate consumer demand moving forward

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