机构：智能手表行业有望打开成长空间

Core Insights - Global smartwatch shipments are expected to grow by 7% year-on-year by the end of 2025, rebounding from a decline in 2024 [1] Group 1: Market Growth - The Chinese smartwatch industry has experienced rapid growth, with market size increasing from 13.605 billion yuan in 2017 to 65.95 billion yuan in 2022, and projected to reach 275.452 billion yuan by 2027 [1] - The growth of the industry is driven by both shipment volume and average price increases [1] Group 2: Future Trends - The integration of AI and IoT technologies is expected to expand the application of smartwatches in medical, sports, and payment scenarios, further driving industry growth [1] - The smartwatch industry is anticipated to open up growth opportunities, primarily driven by demand for AI applications and sports scenarios [1] - Despite concerns about a slowdown in industry innovation, the overall market recovery and increased smart features are expected to sustain growth in the smartwatch market [1] - The rising shipment volume and penetration rates of AI and sports smartwatches are projected to become significant growth drivers for the industry [1]