13 Apr 2021

Thailand’s Wearable Market Increased 47.3% YoY in 2020 Amid Pandemic

BANGKOK, April 13, 2021 – According to the International Data Corporation ’s (IDC) Quarterly Wearable Device Tracker, Thailand’s shipments of wearables for the full year grew 47.3% to 3.46 million units despite the pandemic. As the strong uptake of earwear grew more than 1.3 million units at a strong growth rate of 97% and the expansion into the wearable market by Chinese Smartphone vendors. However, in the fourth quarter of 2020 (4Q20), the shipment of wearable devices reached 788,000 units, a year-over-year decrease of 15.6% as another wave of COVID-19 cases spiked.

Product Category Highlights: 2020

Earwear’s shipment in 4Q20 has slightly dropped by quarter due to the high shipments from previous quarters. Inventory is very high in the channel such as Mi Earbuds Basic S, Galaxy Buds Live, while shortage occurred in many key vendors such as Apple AirPods, Huawei FreeBuds Pro. However, on a yearly basis, earwear has grown amid the pandemic, as consequence of the budget-friendly Chinese True Wireless Stereo (TWS) headphones and the popularity of the Noise-Canceling feature.

Wristband kept its momentum and posted a year-over-year increase due to Mi band 5, Fitbit Charge 4. Shipments by quarter decreased due to huge shipments in 3Q20. Despite the smartwatch’s pricing continues to drop and consumers demand more features, wristband is a favored segment for the beginner user and still has its value in the market.

Watch market has slightly declined yearly in 4Q20 due to another COVID-19 cases spike in late December, raising concerns about outdoor activities. However, top players are still able to maintain their significant shipment in the market throughout the year. The healthy trend kept growing strong as key players proliferated health sensors into its devices such as Garmin’s Pulse Oximeter, Apple’s ECG feature, which are now available for Thai consumers.

Thailand Wearables Market, Product Categories, Market Share, and Year-over-Year Growth, 2020 (shipments in thousands)

Product Category

2020 Shipments

2020 Market Share

2019 Shipments

2019 Market Share

Year-over-Year unit change (2020 vs 2019)

1. Earwear

1,309

37.8%

664

28.3%

97.0%

2. Wrist Band

1,080

31.2%

733

31.2%

47.3%

3. Watch

1,070

30.9%

950

40.5%

12.6%

Total

3,459

100.0%

2,347

100.0%

47.3%

Source: IDC Quarterly Wearable Device Tracker, March 2021



Thailand Wearables Market, Product Categories, Market Share, and Year-over-Year Growth, 4Q2020 (shipments in thousands)

Product Category

4Q20 Shipments

4Q20 Market Share

4Q19 Shipments

4Q19 Market Share

Year-over-Year unit change (2020 vs 2019)

1. Earwear

342

43.4%

299

32.0%

14.3%

2. Wrist Band

110

13.9%

239

25.6%

-54.2%

3. Watch

337

42.7%

396

42.4%

-15.0%

Total

789

100.0%

934

100.0%

-15.6%

Source: IDC Quarterly Wearable Device Tracker, March 2021

“Thailand’s smartwatch market is driven by a healthy trend as consumers demand more features like blood oxygen measurement and ECG, and we will see more health features launch by various vendors amid the pandemic”, says Teerit Paowan, Market Analyst for Mobile Devices at IDC Bangkok. “Lifestyle product design is also one of the key factors that consumer will consider and the race to complete an ecosystem from smartphone vendors, especially the Chinese vendors, will not only lead to a growth but also make the market more competitive.” adds Teerit.

For more information about IDC’s tracker products and research services, please contact Teerit Paowan at tpaowan@idc.com For media inquiries, please contact Jane Yap at jqyap@idc.com.

-Ends-

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Coverage

Companies Covered

Garmin Ltd., Fitbit Inc., Huawei Technologies Co., Ltd., Apple Inc.


Regions Covered

Thailand


Topics Covered

Wearables