India is having the 2nd largest smartphone user base. The wearable market is one of the emerging segments. The Indian wearable market which includes Earwear, Smartwatches, Fitness bands has seen decent growth.
According to the International Data Corporation (IDC), the Indian wearables market has seen a 165.1% YoY growth in Q3 2020. The Earwear devices dominating the wearable market with 260.5% YoY growth. The multiple launches in the quarter helped the Indian brand boAt lead the category with a 32.4% share. Followed by Samsung and realme as per IDC.
Also read: India TWS shipments market share increased 723% YoY
The Wrist Band category is striving for the past few quarters. However, the category has seen a growth of 83.3% quarter-over-quarter (QoQ) in Q3 2020. Xiaomi has shipped more than half of the category shipments with a 52.4% share.
The Watch category shipments enhanced by more than 50% YoY in Q3 2020. Homegrown Indian lifestyle technology brand, Noise led the segment with a 28.5% category share in 3Q20. Followed by Realme with a 24.2% share of the category.
In Q3 2020, the Earwear and Watch category has become inexpensive which led the customers to upgrade from the Fitness Wrist bands to the Smartwatch and wired earphones users to the wireless and TWS devices. The average selling price of the watches has dropped from $175 to $111 and TWS average selling price declined from $117 to $57 as per IDC.
