用“痛并快乐着”这句话，形容这几年的全球智能穿戴行业非常贴切。
一方面，市场规模依然保持着稳健增长。根据潮电智库统计估算，去年全球智能穿戴设备出货量接近6亿台。未来三年的年复合增长率在3.5%左右，在2028年有望达到6.5亿台。这也意味着，产业链上下游仍保有足够的市场空间。
另一方面，行业内卷堪称惨烈，洗牌提速。除了赤裸裸的价格战，可穿戴终端形态快速从智能手表/手环、TWS耳机向智能戒指、智能眼镜等新边界扩延，而且市场格局集中化迹象显现，某些技术、资金储备与制造交付等硬实力不够的企业逐渐被淘汰出局。
作为智能穿戴产业链最重要的环节之一，ODM能够通过供应链整合和规模化效应，有效降低原材料采购、先进制造及物流运输等各个环节的成本，在生产、设计、研发等全方位助力下游终端品牌。
不夸张的说，ODM伙伴实力的强弱，某种程度上直接影响着智能穿戴市场的品牌格局。
根据智能穿戴产业链处调研信息，目前智联盛亚、爱保护、领为创新、琦沃、舟海等五大专业ODM厂商相当活跃，战略布局层面各具特点。潮电智库从年产能、出货量/市占率、主要客户、市场分布等企业经营的几个关键要素分析发现，其中智联盛亚的综合竞争力要胜出一筹。年出货量突破10KK之上，主要客户群体也是欧美及东南亚地区穿戴品牌。本身也集中的高端运动品质及东南亚性价比出货综合。
产能是ODM厂商对下游供货能力的直接体现，也是交付的重要保障。一般来说产能利用率越高，表明订单越充足。
从榜单可以看出，智联盛亚的年产能达到1500万台，比其他友商高出25%—90%。
这与其多元化的产品布局有着密切关系。
根据潮电智库了解，智联盛亚自研的可穿戴产品已经超过百款，主要包括蓝牙智能手表、儿童智能手表、蓝牙手环、4G 智能手表、智能健康监护手表；智能戒指、蓝牙耳机以及其他智能IOT品类等。由于设计新颖，性价比超高，目前其产品用户群覆盖全球100多个国家和地区。
值得注意的是，智联盛亚接近八成的产能利用率，也属于行业领先，表明公司的日常订单及交付处于较为健康的水平。对比来看，领为创新不仅产能规模较小，而且产能利用率不到40%，需要进一步发力追赶。
出货量指标是企业产品竞争力、市场营销，以及资源掌控等多种能力的综合体现，更是企业营收的晴雨表。通俗来说，出货量越大，相应的市场占有率也会越高。
根据潮电智库从消费电子产业链调研信息，智联盛亚的智能穿戴年出货量达到1150万台。在当前仍为百放齐放的产业格局下，两位数的市占率不仅助公司跻身头部ODM阵营，更是产品迭代与品质实力的充分体现。
智能穿戴产品每年数亿的出货规模，吸引了各路品牌玩家涌入，仅以智能手表为例，就有传统手表企业、手机端企业、互联网企业、医疗端以及5G+IOT企业等五大阵营，产品终端功能的区别与细分，是市场增量的主要动能，也为ODM厂商提供了更多的订单机会。
拥有品牌客户的数量与质量，可以说明ODM实力的“含金量”。
五大智能穿戴ODM厂商都有自己的核心客户资源，辐射范围覆盖国内外。其中智联盛亚的主要客户包括Titan、boat、Noise、Techmade、fire-bolt等，爱保护的主要客户是Haylou，avon，琦沃的主要客户是Haylou，传音，舟海的主要客户是小米，传音，领为创新的主要客户是华米，Titan。
可以明显看出，由于产品定位和商业模式相似，ODM厂商之间存在常见的客户群重叠现象，这导致订单资源及市场份额出现直接争夺。
某品牌智能穿戴厂商对潮电智库表示，“选择多家ODM合作，主要是出于规避生产与交付的供应风险考量，但最为看中的还是成本控制与品质管控，以及UI设计、多模型生态、产品更新迭代的综合能力。”
以2016年苹果发布首款TWS耳机AirPods为标志，一场智能穿戴的风暴席卷全球，至今方兴未艾，而且已经从耳部经济，扩展至腕部、指部、头部经济。
强大的中国制造牢牢把握住了这一消费电子的时代风口。截至目前，五大智能穿戴ODM厂商的出货轨迹遍及全球，特别在亚非拉地区建立了绝对的优势。
必须指出的是，欧美市场的产品价格与利润空间更大，但相应的准入门槛也更高，一直被视为中国制造企业的试金石。根据潮电智库了解，智联盛亚在欧美的出货量占比已经超过50%，成为公司近年业绩逆势连增的关键。
根据智联盛亚发展规划，除了巩固和扩大在智能手表/手环领域的领先优势，还将依托海外强大的智能穿戴产品研发制造能力，以稳定的全球知名品牌合作经验作为背书，顺应客户需求，深入拓展XR、智能戒指等新品类，持续实现出货与营收的双增量。
而智联盛亚是一家专注于智能可穿戴设备的生产型企业，是全球领先的智能穿戴产品解决方案提供商，产品涉及可穿戴手表手环、智能戒指及其他智能IOT品类。公司是集设计、研发、生产、销售为一体致力于全球客户提供oem、odm服务的可穿戴集成服务商。
智联盛亚有完善的海外智能穿戴产品研发制造能力，稳定的全球知名品牌合作经验，可以很好的了解市场趋势，提供广泛技术革命方案，能够快速高效地向多元化客户群众提供智能可穿戴产品设备和解决方案。良好的信誉和专业的技术服务也为其赢得了来自全球客户的信赖和支持。
A comprehensive comparison of the competitive strength of the top five smart wearable ODM manufacturers shows that ZWear takes a strong lead.（The Title）
The phrase "suffering but happy" is very apt to describe the global smart wearable industry over the past few years.
On the one hand, Capacity of market continues to grow steadily. According to estimates from Chaodian Big DATA, the global shipment of smart wearable devices reached nearly 600 million units last year. The compound annual growth rate over the next three years is expected to be around 3.5%, and it is projected to reach 650 million units by 2028. This also indicates that there is still sufficient market space for both upstream and downstream players in the industry chain.
On the other hand, the competition within the industry is extremely fierce, and the reshuffling is accelerating. Besides the blatant price war, the forms of wearable terminals are rapidly expanding from smartwatches/fitness trackers and TWS headphones to new frontiers such as smart rings and smart glasses. Moreover, signs of market concentration are emerging, and some enterprises with insufficient technical, financial reserves, and manufacturing and delivery capabilities are gradually being eliminated.
As one of the most crucial links in the smart wearable device industry chain, ODM can effectively reduce costs in various aspects such as raw material procurement, advanced manufacturing, and logistics transportation through supply chain integration and scale effects, and comprehensively support downstream terminal brands in production, design, and R&D.
It is no exaggeration to say that the strength of ODM partners, to a certain extent, directly affects the brand landscape of the smart wearable market.
According to the research information from the smart wearable industry chain, currently, five major professional ODM manufacturers, namely ZWear, SMA, Linwear, Kingwear, and Zhouhaismart, are quite active, each having its own unique strategic layout. ChaoDian data analysis of several key elements of enterprise operation, including annual production capacity, shipment volume/market share, main customers, and market distribution, reveals that ZWear has a superior overall competitiveness. Its annual shipment volume has exceeded 10 million units, and its main customer base consists of wearable brands in Europe, America, and Southeast Asia. It also focuses on high-end sports quality and Southeast Asian cost-effective shipments.
Production capacity is a direct reflection of an ODM manufacturer's supply capacity to downstream customers and an important guarantee for delivery. Generally speaking, the higher the production capacity utilization rate, the more abundant the orders are.
As can be seen from the list, ZWear's annual production capacity has reached 15 million units, which is 25% to 90% higher than that of other competitors.
This is closely related to its diversified product layout.
According to the research of ChaoDian Data, ZWear has independently developed over a hundred wearable products, mainly including Bluetooth smartwatches, children's smartwatches, Bluetooth bracelets, 4G smartwatches, smart health watches; smart rings, Bluetooth TWS and other smart IoT categories, etc. Due to their novel designs and extremely high cost performance, their products currently cover over 100 countries and regions worldwide.
It is worth noting that ZWear's capacity utilization rate of nearly 80% is also among the leading in the industry, indicating that the company's daily orders and deliveries are at a relatively healthy level. In contrast, Linwear Innovation not only has a smaller production capacity but also a capacity utilization rate of less than 40%, and needs to further intensify its efforts to catch up.
The shipment volume indicator is a comprehensive reflection of a company's product competitiveness, marketing capabilities, and resource control, among others. It is also a barometer of the company's revenue. In simple terms, the larger the shipment volume, the higher the corresponding market share will be.
According to the research information from the consumer electronics industry chain by ChaoDian Think Tank, ZWeara's annual shipment of smart wearables has reached 11.5 million units. In the current industry landscape where there are still numerous players, a double-digit market share not only helps the company join the top ODM camp but also fully demonstrates its product iteration and quality strength.
The annual shipment scale of smart wearable products reaching hundreds of millions has attracted a large number of brand players to enter the market. Taking smart watches as an example, there are five major camps including traditional watch enterprises, mobile phone enterprises, Internet enterprises, medical enterprises and 5G+IOT enterprises. The differences and subdivisions of terminal product functions are the main driving force for market growth and also provide more order opportunities for ODM manufacturers.
The quantity and quality of brand customers can indicate the "gold content" of an ODM's strength.
All five major ODM manufacturers of smart wearables have their own core customer resources, with a coverage that spans both domestic and international markets. Among them, ZWear's main clients include Titan, Boat, Noise, Techmade, and Fire-Bolt;SMA's main client is Haylou; Kingwear's main clients are Haylou and Transsion; Zhouhai's main clients are Xiaomi and Transsion; and Linwear's main clients are Huami and Titan.
It is obvious that due to similar product positioning and business models, there is a common overlap of customer groups among ODM manufacturers, which leads to direct competition for order resources and market share.
A smart wearable device manufacturer of a certain brand told ChaoDian Think Tank, "The reason for choosing multiple ODMs for cooperation is mainly to avoid supply risks in production and delivery. However, what we value most is cost control and quality management, as well as the comprehensive capabilities in UI design, multi-model ecosystem, and product update and iteration."
Marked by the release of the first TWS earphones, AirPods, by Apple in 2016, a storm of smart wearables swept across the world and has been gaining momentum ever since. It has expanded from the ear economy to the wrist, finger and head economies.
Powerful Chinese manufacturing has firmly seized the opportunity of this era of consumer electronics. As of now, the shipment trajectories of the top five smart wearable ODM manufacturers have spread across the globe, especially establishing an absolute advantage in Asia, Africa and Latin America.
It must be pointed out that the product prices and profit margins in the European and American markets are higher, but the corresponding entry barriers are also higher. They have always been regarded as the touchstone for Chinese manufacturing enterprises. According to the information from ChaoDian Think Tank, the shipment volume of ZWear in Europe and America has exceeded 50%, which has become the key to the company's consecutive performance growth in recent years despite the adverse circumstances.
According to the development plan of ZWear, in addition to consolidating and expanding its leading position in the smartwatch and smart bracelet market, it will also rely on its strong overseas R&D and manufacturing capabilities for smart wearables, and leverage its stable global brand cooperation experience as a guarantee. It will respond to customer demands, further explore new product categories such as XR and smart rings, and continuously achieve double growth in shipments and revenue.
ZWear is a production-oriented enterprise specializing in smart wearable devices and a leading global provider of smart wearable product solutions. Its products cover smart watches, smart bracelets, smart rings, and other smart IoT categories. The company integrates design, research and development, production, and sales, and is committed to providing OEM and ODM services to global customers as a smart wearable integrated service provider.
ZWear has a complete overseas smart wearable product R&D and manufacturing capability, stable cooperation experience with global well-known brands, and can well understand market trends, provide a wide range of technological revolution solutions, and quickly and efficiently provide smart wearable products and solutions to a diverse customer base. Its good reputation and professional technical services have also earned the trust and support of customers from all over the world.
