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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, in keeping with 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, Fireplace-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) reviews that wearables shipments in India reached 23.Eight million models within the third quarter. In September alone, the agency mentioned that shipments surpassed the 10 million mark that confirmed two-fold progress from the identical month final yr.

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 phase, however, grew 77.9 % YoY with 39.5 % market share.

Indian manufacturers comprising Noise, Boat, and Fireplace-Boltt captured over two-thirds of the whole smartwatch market, the agency mentioned 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 Fireplace-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 mentioned.

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 Yr-on-Yr unit change (3Q21 vs 3Q20)
Noise (Nexxbase) 26.0% 28.6% 405.7%
Boat (Think about Advertising and marketing) 23.1% 26.9%
Fireplace-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 scale back the typical promoting value of watches to $73 (roughly Rs. 5,400), placing immense strain on a struggling wrist band class,” mentioned 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 phase that contains smartwatches and wristbands crossed the 5 million shipments mark in a single quarter, the agency mentioned.

Xiaomi maintained the lead within the wristband market phase, with 49.9 % share. It, nevertheless, noticed a 27.2 % dip in its YoY progress within the third quarter. After Xiaomi, Titan got here second with 16.7 % share. OnePlus, however, got here third with 10.Eight % share within the quarter.

High 5 wristband distributors in India in Q3 2021 (as per IDC)

Firm 3Q21 Market Share 2Q21 Market Share Yr-on-Yr 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 phase, TWS earbuds, neckbands, and wi-fi over-the-ear headphones have clocked 18.7 million models within the third quarter. Boat led the phase 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 mentioned {that a} complete of seven.Four million TWS earbuds had been shipped out there, rising 70.5 % YoY within the third quarter. As a lot as 86.Four % of the whole TWS earbuds shipments fall below the $50 (roughly Rs. 3,700) pricing.

Complete TWS earbuds shipped the market captured a 39.5 % share of the general earwear phase within the third quarter, the agency mentioned. Boat led the TWS class, with a 37.Three % share.

High 5 earwear distributors in India in Q3 2021 (as per IDC)

Firm 3Q21 Market Share 2Q21 Market Share Yr-on-Yr 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%

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


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