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Tuesday, November 30, 2021

India’s wearable market grew by double digits in third quarter of 2021; Noise remains on top: IDC

The report asserts that the category witnessed this hike despite the logistic challenges and increase in freight costs as vendors remained aggressive in their shipments and managed the inventory for the festive season.

By: Tech Desk | Lucknow |
Updated: November 16, 2021 4:10:27 pm
wearable market, india wearable market, xiaomi, samsung, oneplus, noise watches, boat earphones, amazfit, oneplus watches,India’s wearable market grew 93.8 percent YoY in 2021: IDC

India’s wearable market grew by 93.8 per cent year-over-year (YoY) in the third quarter of 2021 with 23.8 million unit shipments, according to a report published by research firm International Data Corporation’s (IDC). The company tracks smartwatches and wristbands, as well as earphones in this category.

The report asserts that the category witnessed this hike despite the logistic challenges and increase in freight costs as vendors remained aggressive in their shipments and managed the inventory for the festive season. The wearable category reportedly saw a twofold increase with shipments totaling 10 million units in September 2021 alone.

Watches continue to be the fastest-growing category with 4.3 million shipments, while wristbands saw a seventh consecutive quarter of annual decline. Overall wristwear (inclusive of watches and wristbands) crossed the 5 million shipments mark in a single quarter, which suggests that people have started showing more interest in watches than wristbands.

As per the data, Xiaomi continued to capture the maximum market share for wristbands at 49.8 per cent, whereas Titan had 16.67 per cent market share in the quarter. OnePlus is in the third position with a 10.8 per cent market share and the rest is dominated by other brands.

In the watch category, Noise retained its top position with 26 per cent market share in 2020. boAt took second place with 23.1 per cent market share. The report shows that Amazfit shifted to the last spot with 4.8 per cent market share. Fire-Boltt managed to overtake Amazfit and was in the third spot with 15.3 percent share. In the third quarter, Realme also witnessed growth with 7.3 share. It is on the fourth spot, as per the chart published by IDC.

Coming to earwear, 18.7 million units were shipped with a 77.9 percent yearly growth in the quarter. Out of this, a total of 7.4 million TWS devices in the earwear category were shipped, growing 70.5 percent on an yearly basis.

boAt continued to lead the segment with 48 percent share. As per the report, Realme replaced OnePlus for the second position, while Samsung settled at the fourth position. OnePlus grabbed the third spot with 7.2 percent market share. Ptron retained its fifth position as its shipments grew 81.9 percent during the quarter.

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