Smart Watch Business Guide
Table of Contents
What is a smart watch?
Smart watches are portable electronic devices that are designed to be worn on the wrist. They typically have many features similar to those found on a smartphone, such as the ability to make and receive phone calls, text messages, and run simple apps. However, smart watches also have some unique features that set them apart from other devices, such as the pedometer, heart rate monitor, blood oxygen monitor, etc.
Is smart watch a good business?
The answer is definitely yes.
The global smart watch market is growing rapidly and is expected to reach US$30 billion by 2025, according to a report by Grand View Research. The increasing adoption of wearable devices, rising disposable income levels, and the growing popularity of fitness and health tracking are some of the key factors driving the growth of the smart watch market.
Smart watch is a profitable business for online sellers
For sellers on e-commerce platforms, such as Amazon, eBay, Shopify, and Walmart.com, smart watch is a very profitable business. The average selling price of smart watch is about US$40-200 and the profit margin is about 30%, which means for every 10 smart watches sold, the seller can make about US$60 in profit.
Smart watch is a good gift choice for wholesalers and retailer
Custom smart watch is also a very good idea for corporate gifts, promotional gifts, and Christmas gifts. If you are a wholesaler or retailer who is looking for gift ideas, smart watch should be on your list.
There are manufacturers in China that offer OEM (original equipment manufacturer) and ODM (original design manufacturer) services.
What is the smartwatch market size?
The smartwatch market size is estimated to be worth around 30 billion USD by 2025. It is also a fast-growing category on online marketplaces like Amazon.
The global smartwatch market was valued at the volume of 68.59 million units in 2020, and it is expected to reach 230.30 million units by 2026, registering a CAGR of 21.98% during the forecast period (2021-2026). With the recent outbreak of COVID-19, the global demand for electronics slumped significantly during the first quarter of 2020. However, the sales of wearable devices such as smartwatches witnessed a major influx from online sales, cutting out various other costs involved in sales, owing to which the buyers were capable of buying products for lower prices on online platforms and comparing features and prices. * data source: Mordor intelligence
What are the Top 5 smartwatch brands or manufacturers?
Apple introduced its first wearable product in September 2014 – the Apple Watch. Since then, it has become one of the most popular smartwatch brands in the world. In 2019, Apple shipped 26.9 million units of the Apple Watch, giving it a market share of 47.8%.
Samsung is the second-largest smartwatch brand with a market share of 12.7. Samsung has many wearable products such as fitness trackers and smartwatches. Its most popular smartwatch is the Galaxy Watch, which was released in August 2018.
Fitbit is established in 2007, focusing on fitness trackers. It entered the smartwatch market in August 2017 with the release of the Fitbit Ionic. In 2019, Fitbit shipped 8.2 million smartwatches, giving it a market share of 14.4%.
Garmin is a GPS technology company that offers a wide range of products, from automotive GPS units to wearable devices. It entered the smartwatch market in September 2017 with the release of the Garmin Vivoactive 3. In 2019, Garmin shipped 5.7 million units of smartwatches, giving it a market share of 9.9%.
Starmax Technology was established in 2015 and has more than 6 years of experience in the production of fitness trackers, smart watches, and kids smart watches. Our daily production capacity is 15K units per day.
Starmax is committed to creating a healthy lifestyle for everyone by providing high-quality wearable health care devices at competitive prices!
Where are the smartwatch factories located?
Smartwatch factories are mostly located in China and Taiwan. In China, the major manufacturing hubs are located in Shenzhen.
Top Smartwatch Manufacturer in India and USA
There are no smartwatch manufacturing plants in India and the USA as of now, because of its manufacturing infrastructure and labor cost, China is still the best place to produce high-technology electronic products.
What health functions does a smart watch have?
Pedometer or Step Counter
This is the most basic and important function of a smart watch. It tracks your steps, distance, and calories burned throughout the day. A pedometer is a device that counts your steps by detecting your body’s motion. It is usually clipped onto your waistband or placed in your pocket.
Heart Rate Monitor
A heart rate monitor is a great feature to have if you are looking to improve your fitness or track your heart health. How does a heart rate monitor work? It uses sensors to detect your heart rate and then displays it on the screen. The normal heart rate for a person is 60-100 bpm (beats per minute), if the heart rate is higher than 160bpm, it is called tachycardia, and if the heart rate is lower than 60bpm, it is called bradycardia. Both can be very dangerous, especially for those who have heart disease.
So how does sleep tracking monitor your sleep quality? It uses sensors to detect your sleep patterns and then displays it on the screen. The normal sleep cycle for a person is 90-110 minutes, and it consists of 4 stages: light sleep, deep sleep, REM sleep, and wakefulness. With Runmifit or Runmefit Apps, you can view the sleep graphs in the App.
Blood Oxygen Monitor
Blood oxygen monitor or SpO2 sensor is very important for athletes and people who have heart conditions. It can help them to track their blood oxygen level and see if it is in the normal range. The normal blood oxygen level for a person is 95-100%, and if the level drops below 90%, it is called hypoxemia. Blood oxygen is also useful to monitor COVID-19 patients’ conditions, if blood oxygen drops below 90% that means you may need immediate medical help.
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