According to market research firms, Vietnam is among the countries with the fastest growth rate in the wearable device market in the Asia- Pacific region.
Clear differentiation
The smartwatch market is currently divided into 3 segments. Of which, the popular segment has a price of under 5 million VND, dominated by Chinese brands such as Xiaomi and Huawei. Products in this group meet basic needs such as measuring heart rate, counting steps, tracking sleep, receiving notifications from phones...
Besides the very competitive price, suitable for students or new users to smartwatch, these brands also have the advantage of long battery life.
The mid-range segment, with prices ranging from 5-10 million VND, sees a strong presence of Samsung's Galaxy Watch and Apple Watch SE models.
Smartwatches in this price range integrate a variety of utilities such as listening - calling, measuring stress levels, controlling music, measuring blood pressure, advanced exercise tracking and supporting wireless payments (NFC). This is a segment that attracts office workers, young people who care about their health and need a wearable device that is both modern and fashionable .
The high-end group - priced from 10 million VND or more - is the competition between products such as Apple Watch Series 9 and Ultra, Huawei GT 5 Pro, Garmin Forerunner 965, Garmin Fexnix 7 Series/Femix 8 Series...
This segment targets users who practice and play high-intensity sports , requiring accurate tracking devices, good water resistance, multi-frequency GPS and long battery life. In addition, factors such as design, materials (usually sapphire glass, titanium frame), large watch faces... also greatly influence users' choices.
Ms. Hanh Thu, a runner from the 5:30 community (a group of people who love running and wake up early to exercise), has been using the Garmin Forunner 265S for 2 years. At the time of purchase, this watch cost 11.2 million VND.
In addition to being satisfied with the youthful and dynamic design, Ms. Thu also chose Garmin because of the parameters that support health monitoring when exercising such as heart rate, speed, energy consumption... "The battery life is very good, only needing to be charged once every 2-3 weeks, which is also the factor that makes me stick with Garmin" - Ms. Thu said.
Smart watches are increasingly having more features to attract users.
No more cheap priority
A recent survey by market research company Cimigo with consumers with an income of 20 million VND/month, aged 24-55 in Vietnam, showed that interest in choosing a smartwatch focuses on 3 main feature groups.
First is the ability to monitor health with indicators such as heart rate, SpO2, sleep quality or stress level. Next is the ability to support intensive training, especially in sports such as running, cycling, swimming, in which accurate GPS, step counting, energy consumption measurement, recovery tracking... are highly appreciated. Finally, there are utilities serving daily life such as listening - calling, receiving notifications, controlling music, connecting to the phone and electronic payments.
Notably, Apple remains the top brand thanks to its stable ecosystem, premium design, and smooth syncing. Samsung continues to thrive in the mid-range segment, with a series of products with beautiful interfaces, full features, and wide compatibility. Meanwhile, Huawei focuses on its strengths in battery life, luxurious design, and health features.
In terms of origin, brands from China such as Xiaomi, Amazfit, Realme... dominate the market with products that are extremely competitively priced, have a variety of designs, and are easily accessible to ordinary users and niche markets.
According to experts, the smartwatch market is entering a new race, when there is a clear shift in consumer behavior: Not only choosing products based on price criteria but also paying attention to usage value, quality, features, and stability. This means that brands must also create a difference in technology instead of just competing on sales volume.
Strong growth forecast
IDC recorded that the total number of wearable devices shipped in the first quarter of 2025 reached 45.6 million units - an increase of 10.5% over the same period last year; of which, smartwatch sales accounted for about 34.8 million units.
In Vietnam, according to reports, the size of the smartwatch market in 2024 will reach about 212-290 million USD. The annual growth rate of this market is forecast to reach double digits by 2030, thanks to the increasing demand for health monitoring and sports training among urban youth.
Source: https://nld.com.vn/thi-truong-smartwatch-vao-cuoc-dua-moi-196250902204908391.htm
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