Executive Summary

Aug 2019
PROSPECTS
Active exercise is more of a priority for consumers, triggering category growth

Vietnam has continued to experience a rise in living standards and increased disposable income in 2019. As a result, this is leading to increased health-awareness, with more Vietnamese people looking to actively monitor their bodies during daily activities or during workout sessions.

Slower growth is posted as prices remain out of bounds for the low-income group

Wearable electronics is experiencing slower volume growth in 2019 compared with 2018 due to the limited consumer base for these products. Only middle- and high-income consumers have the extra budget to purchase wearable electronics, while low-income consumers see these products as an unnecessary luxury, despite the average unit price falling over the last two years.

Wearable electronics get the best reception from young consumers

The main consumers of wearable electronics are the younger population. Players in the category have been focusing on this group and have introduced stylish and trendy products to attract the interest of these consumers.

COMPETITIVE LANDSCAPE
Xiaomi sets the pace again in activity wearables

Xiaomi Corp has retained its leading position in wearable electronics in 2019 thanks to its popular Xiaomi Miban range. Xiaomi Corp is only present in activity wearables.

Samsung and Apple cater to an upper-income niche

Samsung Vina Electronics Co Ltd and Apple Inc compete directly for sales of premium devices among the high-income segment. While Samsung has to some extent been active in marketing campaigns, Apple has not engaged in this regard in Vietnam, which is perhaps why Samsung has the higher volume share overall in wearable electronics, though Apple performed well in smart wearables in 2019.

Greater exposure in store-based retailers will drive further interest and sales

As the category has become bigger, Thegioididong and its competitors FPT, VienthongA, CellphoneS and others have responded by providing dedicated space to wearable electronics in their stores. Activity watches have received the biggest area quota in these prominent local retailers.

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Wearable Electronics in Vietnam

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Overview

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

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

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 Vietnam - Category analysis

HEADLINES

PROSPECTS

Active exercise is more of a priority for consumers, triggering category growth
Slower growth is posted as prices remain out of bounds for the low-income group
Wearable electronics get the best reception from young consumers

COMPETITIVE LANDSCAPE

Xiaomi sets the pace again in activity wearables
Samsung and Apple cater to an upper-income niche
Greater exposure in store-based retailers will drive further interest and sales

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 Vietnam - Industry Overview

EXECUTIVE SUMMARY

Growth continues to decelerate in 2019, with producers having to work harder to sell to device-sufficient consumers
Premium sales are rising as incomes and living standards increase
Aggressive and sustained advertising characterises an increasingly competitive landscape
Internet retailing is now a major channel in consumer electronics
Achieving volume growth will be tougher as competition increases and consumers have less need to upgrade their devices

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