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Recently, data released by the State Administration for Market Regulation showed that in the first three quarters of this year, the number of smart wearable products registered in China and using commodity barcodes soared to 181,000 types, encompassing 6,000 enterprises. When compared to the figures at the end of September 2020, there has been a remarkable 91.4% increase in the variety of product types, with an average annual growth rate of 13.9%. This underscores a consistent and rapid expansion in the market. Specifically, the types of smart watches, smart glasses, smart earphones, and smart bracelets stand at 29,000, 2,000, 122,000, and 28,000, respectively. Their average annual growth rates are 46.8%, 23.5%, 14.0%, and 1.2%, respectively. Notably, the growth rates of smart watches and smart glasses far surpass the industry average.
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