Wearables market in India that consists of smartwatches, earbuds, and wristbands grew by 93.8 % year-on-year (YoY) within the third quarter of 2021, in accordance with a report. Whereas smartwatches continued to be the fastest-growing class within the quarter between July and September, actually wi-fi stereo (TWS) earbuds helped push the expansion of the earwear class. Indian manufacturers equivalent to Noise, Boat, Hearth-Boltt, Ptron, and Titan emerged among the many prime distributors within the wearables market — alongside their international counterparts Amazfit, OnePlus, Realme, Samsung, and Xiaomi.
Market analysis agency International Data Corporation (IDC) reports that wearables shipments in India reached 23.8 million items within the third quarter. In September alone, the agency stated that shipments surpassed the ten million mark that confirmed two-fold development from the identical month final yr.
When it comes to segments, smartwatches retained their fastest-growth within the Indian wearables market with 4.3 million shipments and a whopping 456.3 % YoY change recorded within the third quarter. The earwear section, alternatively, grew 77.9 % YoY with 39.5 % market share.
Indian manufacturers comprising Noise, Boat, and Fire-Boltt captured over two-thirds of the full smartwatch market, the agency stated in its report.
Gurugram-headquartered Noise maintained the management for the sixth straight quarter, with a 26 % market share within the quarter ending September 30. It was adopted by Boat with 23.1 %. After Boat, it was Hearth-Boltt that changed Xiaomi-backed Huami for the third place and captured a market share of 15.3 % within the third quarter — up from 5.5 % within the earlier quarter, IDC stated.
Alongside the Indian manufacturers, Realme entered the fourth place, whereas Amazfit maintained its fifth place.
High 5 smartwatch distributors in India in Q3 2021 (as per IDC)
| Firm | 3Q21 Market Share | 2Q21 Market Share | 12 months-on-12 months unit change (3Q21 vs 3Q20) |
|---|---|---|---|
| Noise (Nexxbase) | 26.0% | 28.6% | 405.7% |
| Boat (Think about Advertising and marketing) | 23.1% | 26.9% | – |
| Hearth-Boltt | 15.3% | 5.5% | – |
| Realme | 7.3% | 4.7% | 66.7% |
| Amazfit (Zepp) | 4.8% | 9.3% | 139.7% |
| Others | 23.5% | 25.0% | 263.6% |
“Aggressive intent to keep up their lead helped them to additional cut back the typical promoting worth of watches to $73 (roughly Rs. 5,400), placing immense strain on a struggling wrist band class,” stated Anisha Dumbre, Market Analyst for Consumer Gadgets, IDC India.
Not like smartwatches, wristbands noticed an annual decline for the seventh consecutive quarter. The general wristwear section that includes smartwatches and wristbands crossed the 5 million shipments mark in a single quarter, the agency stated.
Xiaomi maintained the lead within the wristband market section, with 49.9 % share. It, nevertheless, noticed a 27.2 % dip in its YoY development within the third quarter. After Xiaomi, Titan got here second with 16.7 % share. OnePlus, alternatively, got here third with 10.8 % share within the quarter.
High 5 wristband distributors in India in Q3 2021 (as per IDC)
| Firm | 3Q21 Market Share | 2Q21 Market Share | 12 months-on-12 months unit change (3Q21 vs 3Q20) |
|---|---|---|---|
| Xiaomi | 49.8% | 38.9% | -27.2% |
| Titan | 16.7% | 21.3% | 37.7% |
| OnePlus | 10.8% | 21.7% | – |
| Others | 22.7% | 18.1% | -54.9% |
Within the earwear section, TWS earbuds, neckbands, and wi-fi over-the-ear headphones have clocked 18.7 million items within the third quarter. Boat led the section with 48 % share, adopted by Realme and OnePlus. Samsung that features JBL, Harman Kardon, and Infinity, on the opposite entrance, got here fourth and Ptron retained its fifth place.
IDC stated {that a} whole of seven.4 million TWS earbuds have been shipped out there, rising 70.5 % YoY within the third quarter. As a lot as 86.4 % of the full TWS earbuds shipments fall beneath the $50 (roughly Rs. 3,700) pricing.
Complete TWS earbuds shipped the market captured a 39.5 % share of the general earwear section within the third quarter, the agency stated. Boat led the TWS class, with a 37.3 % share.
High 5 earwear distributors in India in Q3 2021 (as per IDC)
| Firm | 3Q21 Market Share | 2Q21 Market Share | 12 months-on-12 months unit change (3Q21 vs 3Q20) |
|---|---|---|---|
| Boat (Think about Advertising and marketing) | 48.0% | 45.5% | 176.7% |
| Realme | 8.5% | 5.5% | 48.8% |
| OnePlus | 7.2% | 8.5% | 4.6% |
| Samsung | 22.7% | 18.1% | -54.9% |
| Ptron (Palred) | 3.7% | 5.1% | 81.9% |
| Others | 27.3% | 27.5% | 68.4% |
“Movie star endorsements are a key tactic for model recall. Nevertheless, to keep up the expansion momentum they need to make investments extra in newer designs and aesthetics, in addition to newer collaborations with present franchises. This may help create distinctive product experiences that won’t solely assist affiliate with new clients however may open new avenues to promote these merchandise,” stated Jaipal Singh, Analysis Supervisor of Consumer Gadgets, IDC India.
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