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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
The Indian wearables market has witnessed a year-on-year growth of a whopping 93.8% in the third quarter of this year, which is between July and September. Also, during this period, the wearables shipment accounted for 23.8 million units, claimed the latest data from IDC (International Data Corporation). Notably, the segment has defeated the supply chain issues that slowed down the shipment of smartphones in the same period. For the uninitiated, the wearables market comprises smartwatches, fitness bands, and earwear.
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Notably, the shipments of wearables in September 2021 surpassed 10 million units and increased two-fold on a year-on-year basis. This resulted in creating a record quarter for the wearables in the country.
Wearable Market In India Hits Record Growth
As per the report, smartwatches continued to dominate the segment with total shipments of 4.3 million units in the third quarter of the year. On the other hand, the wristband category has declined in terms of annual growth once again. It further noted that the Indian brands have captured more than two-thirds of the market share in the wearable segment. Of these, Noise dominates other brands with a 26% market share for the sixth consecutive quarter.
Furthermore, the report notes that the earwear category including neckbands, wireless over-the-ear headphones and TWS earbuds witnessed 18.7 million units of shipments and year-on-year growth of 77.9% in the third quarter of the year. In this category, BoAT has dominated the other brands and established its lead with a market share of a whopping 48% and total shipments of 9 million units.
