Indian wearable market recorded a growth of 56.4% in Quarter 3 this year with boAt in the lead, as per a recent report by International Data Corporation (IDC)’s India Monthly Wearable Device Tracker. Check out more findings.
Indian Wearable Market Grew in Q3 2022
The report reveals that the market saw shipments of 37.2 million units in the July-September quarter. The smartwatch category became the fastest growing with a YoY growth of 178.8%. Earwear accounted for 67.3%. Although, the average selling price (ASP) decreased by 13.6% YoY.
boAt was in a dominating position with a 32.1% market share, all thanks to its audio products specifically the Airdopes 141 and Airdopes 131. It saw a 19.5% YoY growth and got a good response for its smartwatches like the boAt Xtend and Wave Call. This was followed by Noise with a 13.8% share, Fire-Boltt with a share of 8.9%, OnePlus with a share of 8.2%, and Realme with a 4.2% share.
As for the smartwatch business, it was Noise that came first with a share of 29.5%. The second position was acquired by Fire-Boltt (26.2%), followed by boAt (19.9%), Samsung (2.8%), and Pebble (1.9%).
Vikas Sharma, Senior Market Analyst, Client Devices, IDC India, said, “As smartwatches continue to be in high demand across varied customer segments, the need for better specifications/accurate monitoring will be key. We will see bigger screen size (1.8/1.99 inch), AMOLED display, and physical/e-Sim connectivity in the affordable segment, while the premium segment moves towards more offerings with curved/edge-to-edge screens & NFC enabled for payment.“
Additionally, the audio segment was driven by TWS with a share of 57.6% and a 94.4% YoY growth. Again, boAt was a leader with a share of 41.7%. Noise stood in the second position with a share of 9.3%, OnePlus in the third spot (6.8%), Mivi in the fourth spot (6.7%), and Realme with 4.3%.
So, what are your thoughts on the new findings? Do you own wearables from any of the top brands in India? Let us know in the comments below.
Featured Image: Representation of boAt Wave Call