Executive Summary

Aug 2019
PROSPECTS
Growing health-awareness and improving technology could get sales in top shape

Boosted by the nation’s strengthening health consciousness and consumers’ increasingly hectic lifestyles, owing partly to a favourable labour market, there has been rapid growth in wearable electronics, particularly in smart wearables, which is the largest category. The ongoing increase in smartphone ownership in the Philippines and the improvement of 3G and 4G networks will help boost sales of wearable electronics further, as the two devices are often used in conjunction to track and upload a user’s health statistics to specific health applications or social media platforms.

More consumers want to get fit in style, segmenting marketing efforts further

As wearable electronics is still a nascent category in the Philippines, extensive marketing and promotional activities are needed to boost consumer-awareness of the different types and models available. For example, companies in the finance and BDO industries provide incentives for their employees when they sign up for specific credit cards, for instance a free Fitbit.

Prices vary considerably across categories, with smart wearables the most expensive, reflecting its diverse technology

Currently, smart wearables command the highest unit prices, while digital activity watches have the lowest. Over the forecast period, the average unit price in analogue activity watches, which are also known as hybrid smartwatches, is set to fall the most.

COMPETITIVE LANDSCAPE
New leader Apple looks to go the distance in smart wearables, while Fitbit heads activity wearables with slimline prices

As the manufacturer that has spearheaded the smartwatch movement, Apple Inc led smart wearables in 2019. A further strong rise in sales can be attributed to the release of its third-generation Apple Watch in the second half of the review period, with its main feature being built-in LTE connectivity, enabling consumers to send texts, stream music and make calls without being connected to their phone.

Domestic players struggle to keep up the pace, as internationals make the devices even smarter

International manufacturers such as Fitbit, Apple and Fossil Group Inc continued to dominate wearable electronics in 2019. This situation can be attributed to their capacity to develop innovative products that are multi-functional and offer excellent connectivity, as well as sleek and sophisticated designs.

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Wearable Electronics in the Philippines

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Overview

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

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

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 the Philippines - Category analysis

HEADLINES

PROSPECTS

Growing health-awareness and improving technology could get sales in top shape
More consumers want to get fit in style, segmenting marketing efforts further
Prices vary considerably across categories, with smart wearables the most expensive, reflecting its diverse technology

COMPETITIVE LANDSCAPE

New leader Apple looks to go the distance in smart wearables, while Fitbit heads activity wearables with slimline prices
Domestic players struggle to keep up the pace, as internationals make the devices even smarter

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 2016-2019
Table 4 Sales of Wearable Electronics by Category: % Value Growth 2016-2019
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 the Philippines - Industry Overview

EXECUTIVE SUMMARY

Higher purchasing power increases living standards, benefiting industry growth
Smartphones are ever more synced with consumers’ lives
Microfinancing removes a purchasing barrier, boosting sales potential
Internet retailing has potential for long-term growth, underpinned by online lifestyles
Government drive to strengthen the labour market is good news for consumer electronics

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