New Delhi: According to a new report by IDC research and analytic companies, the market that can be used in India grew by 93.8% year-to-year (yoy) at 3Q21 (July-September), shipping 23.8 million units.
The market that can be used in India consists of Smartwatches, Earbuds and Wristbands and although there are logistical challenges and increased shipping costs, vendors remain aggressive in their delivery.
Shipping in September exceeded 10 million, fowled twice the same month last year.
According to the report, SmartWatches continues to be a category that grows the fastest with 4.3 million shipments on Q321.
On the other hand, the bracelet segment saw a quarter of the seventh consecutive annual decline.
A truly wireless device (TWS) reaches 39.5% of the wear wear on 3Q21, but the market is still dominated by over-the-ear devices and tethered.
Top Five Watch Companies This report also reveals that India-based brands capture more than two-thirds of the watch market with aggressive offers and marketing spend digital platforms.
The noise managed to maintain its superiority for the sixth straight quarter with a market share of 26% in 3Q21, followed by a boat with a market share of 23.1%.
Fire-Boltt replaced Huami for third place as a part of it jumped to 15.3% on 3Q21 from 5.5% of the quarter before.
Realms entered fourth place supported by a newly launched watch, and Amazfit settled in fifth position.
Anisha Dumre, Market Analyst, Client Devices, IDC India, said, “While seasonal makes 3Q21 the biggest quarter to be worn, the entry of devices at the beginner level is the main growth factor.
Throughout the quarter, an aggressive Indian vendor with the launch and expansion of their channels.
Aggressive intention for Maintaining their advantages helping them to further reduce the selling price of the average watch to $ 73, putting great pressure on the wrist band category that struggles.
“The category of clothing between five top fencing clothes shows impressive growth with 18.7 million shipping.
The segment is led by the boat with a market share of 48%.
Realme replaced Oneplus for second place, Oneplus moved to third place, while Samsung settled in fourth position.
Ptron maintained fifth position because the shipment grew 81.9% during the quarter.
A total of 7.4 million TWS devices in the Category Ear Wear are sent, growing 70.5% YoY on 3Q21.
When players continue to target entry-level price points, 86.4% of TWS devices now fall under $ 50.
The boat also leads the TWS category with 37.3% of the shares in 3Q21.
The benefits of local brands as markets that can be used in India grow: IDC
