India wearable market records 56.4 per cent growth: Report

According to the IDC, smartwatches remained the fastest-growing category crossing the 12 million shipments mark in a single quarter, a growth of 178.8 per cent year-over-year

Shipping a whopping number of 37.2 million units in Q3 2022 (July-Sep), India's wearable market registered another record quarter, and registered a growth of 56.4 per cent (year-over-year) with boAt leading in the market, a report showed on Friday.

According to the IDC, smartwatches (inclusive of basic and advanced) remained the fastest-growing category crossing the 12 million shipments mark in a single quarter, a growth of 178.8 per cent (year-over-year).

Basic smartwatches continue to dominate the market, with a 95.5 per cent share that increased by 187.1 per cent annually in Q3. With a shipment drop of 80.8 per cent (year over year), wristbands experienced yet another quarterly decline.

"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, physical or e-Sim connectivity in the affordable segment," said Vikas Sharma, Senior Market Analyst, Client Devices, IDC India.

boAt continues to lead with a 32.1 per cent of market share in Q3 growing 19.5 per cent (year-over-year), according to the report.

With a 13.8 per cent market share, Noise stood second. It cemented its smartwatch leadership with a 29.5 per cent share, growing 216.5 per cent annually.

Fire-Boltt climbed to third place with a healthy 395 per cent (year-over-year) growth and 8.9 per cent share.

OnePlus dropped to fourth place in the overall wearable category growing by 107.6 per cent (year-over-year) and 8.2 per cent share, while Realme stood at fifth place and was the only vendor amongst the top 5, with declining shipments at -18.5 per cent (year-over-year) in Q3, the report added.

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