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Wearables Market in India Grew 93.Eight % YoY in Q3 2021, Native Manufacturers Captured a Main Share: IDC

Wearables market in India that consists of smartwatches, earbuds, and wristbands grew by 93.Eight % year-on-year (YoY) within the third quarter of 2021, based on a report. Whereas smartwatches continued to be the fastest-growing class within the quarter between July and September, really wi-fi stereo (TWS) earbuds helped push the expansion of the earwear class. Indian manufacturers akin to Noise, Boat, Hearth-Boltt, Ptron, and Titan emerged among the many prime distributors within the wearables market — alongside their world counterparts Amazfit, OnePlus, Realme, Samsung, and Xiaomi.

Market analysis agency Worldwide Knowledge Company (IDC) experiences that wearables shipments in India reached 23.Eight million items within the third quarter. In September alone, the agency stated that shipments surpassed the 10 million mark that confirmed two-fold progress from the identical month final 12 months.

When it comes to segments, smartwatches retained their fastest-growth within the Indian wearables market with 4.Three million shipments and a whopping 456.Three % 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 Hearth-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.Three % 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.

Prime 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) 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 take care of their lead helped them to additional scale back the typical promoting value of watches to $73 (roughly Rs. 5,400), placing immense stress on a struggling wrist band class,” stated Anisha Dumbre, Market Analyst for Shopper Gadgets, IDC India.

In contrast to smartwatches, wristbands noticed an annual decline for the seventh consecutive quarter. The general wristwear section that contains 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, nonetheless, noticed a 27.2 % dip in its YoY progress within the third quarter. After Xiaomi, Titan got here second with 16.7 % share. OnePlus, alternatively, got here third with 10.Eight % share within the quarter.

Prime 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} complete of seven.Four million TWS earbuds had been shipped available in the market, rising 70.5 % YoY within the third quarter. As a lot as 86.Four % of the full TWS earbuds shipments fall underneath 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.Three % share.

Prime 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) 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%

“Celeb endorsements are a key tactic for model recall. Nonetheless, to take care of the expansion momentum they have to make investments extra in newer designs and aesthetics, in addition to newer collaborations with current franchises. This might help create distinctive product experiences that won’t solely assist affiliate with new clients however can even open new avenues to promote these merchandise,” stated Jaipal Singh, Analysis Supervisor of Shopper Gadgets, IDC India.

Catch the most recent from the Shopper Electronics Present on Devices 360, at our CES 2022 hub.

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