"Smartwatches are evolving towards intelligence and health monitoring, becoming excellent aides in people's lives." According to Tide Power Think Tank, it's estimated that there will be a 22% year-on-year growth in 2023, reaching its peak by 2025 with an estimated shipment of up to 290 million units, and a year-on-year growth rate of 35%.

According to Tide Power Think Tank's statistics for November 2023, the top 10 smartwatch main control chip manufacturers shipped 15.46 million chips. Among them, the top five manufacturers accounted for a high shipment of 11.2 million chips, indicating a high market concentration that is difficult to break in the short term.

In terms of market share, leading in consumer electronics is Apple with 19%, followed by Realtek with 17%. Worth noting is that both JL and ZK are at 16% and 10%, ranking third and fourth. It's important to highlight that JL and ZK only entered the smartwatch main control chip race in 2021, undergoing two years of experience. JL and ZK have become important players in the smartwatch main control chip market.

During the "2023 Tide Power Wearable Leader Summit" hosted by Tide Power Think Tank, Wang Huan stated that considering the market, pricing, and products, private label products cannot be eliminated, but they indeed lack advantages.

Private label products have consumption potential in various regions globally and do not have significant experiential differences compared to branded products, which prevents the market from eliminating them. However, the market trend is approaching its end, with wearable products in the market increasingly shifting towards branded development. Brands leverage cost advantages in the industrial chain and promotional advantages from their profitability, making them highly competitive even in the low-end market.