Futuresource Consulting’s Judy Wang gives an insight into the CE market in China
The TV market in China should not be underestimated as the domestic market accounts for 20% of TVs sold worldwide, according to new data from Futuresource Consulting.
“Over 250 million smart TVs will be in use in China by the end of 2019,” says Judy Wang, Futuresource Consulting’s Business Development Manager, APAC. “Over 80% of TV sales this year will be 4K,” she added.
China is at the forefront of global smart appliance adoption and has the highest share of appliances with Wi-Fi connectivity in the world. Wang says that 19% of all refrigeration and laundry appliances shipped in China this year will be smart.
Smart and portable wireless speakers
China is the world’s leading market for smart speakers, fuelled by local players including Baidu, Alibaba and Xiaomi. Wang says: “China is set to account for nearly 30% of worldwide smart-speaker sales this year. In China, there are more than 12 times as many smart speakers in use as sound bars.”
In 2017, the smartphone market bubble burst in China and the it further declined in 2018. However, it is expected to settle into a replacement-rate-driven sales cycle in the next five years, maintaining between 400 million and 420 million sales per year. Wang says: “Huawei, Oppo and Vivo have gained favour over international established brands such as Samsung and Apple.”
In China the retail value for headphones, excluding those bundled with smartphones and gaming headsets, is forecast to grow at an annual average of 11% through to 2023.
The Gaming PC Peripherals market in China is experiencing double-digit growth year-on-year, thanks to the growing influence of e-sports, streaming and a competitive, low-cost product market.
Fitness and activity
The wearable market in China will have accounted for 26% of all global shipments in 2019.
Wang says: “By 2023, smartwatches will account for 52% of all wearable shipments in China.”
Photo: Judy Wang, Futuresource Consulting’s Business Development Manager, APAC