Despite challenges comparable to provide delays, COVID lockdowns, India’s wristwear market (inclusive of wrist bands and watches) grew by a 141.3 per cent year-over-year (YoY) in 2021, recording 14.4 million unit shipments in sale, in response to the current information from the International Data Corporation’s (IDC) India Monthly Wearable Device Tracker.
Players comparable to Noise, BoAt, and Fire-Boltt led the Indian market within the wearable watch class, few different homegrown manufacturers comparable to Pebble and Zebronics had vital gross sales. According to IDC, India-based manufacturers now account for 1 / 4 of the general wearable watch market. “Aggressive discounts, strong marketing promotions, and multiple launches helped these brands dominate the segment,” the report from IDC stated.
Meanwhile, wrist bands declined by 34 per cent yearly, with Xiaomi sustaining its lead in wrist bands with a decline of 43.7 per cent YoY in 2021.
Watches have proven the strongest YoY enhance, rising by 364.1 per cent in 2021. Nexxbase (Noise) led the yr with a 27.0 per cent share sustaining its lead for the seventh quarter in a row. IDC notes that the corporate’s diversified product portfolio coupled with a number of launches and aggressive advertising spend helped the model to retain its aggressive place. Colorfit Pro 2, Pro 3, and Pulse accounted for a 60.4 per cent share of the model portfolio.
BoAt took the second place with a 25.1 per cent market share. And Fire-Boltt emerged because the third largest participant within the watch market with an 11.6 per cent market share in 2021. “Its omnichannel approach, onboarding new brand ambassadors, and multiple launches across price points helped the brand to gain much-needed visibility in the market,” the report stated.
Meanwhile, Realme completed fourth with a 5.6 per cent, (Amazfit) grew 57.3 per cent. “The Indian watch market is thriving with a sharp increase in adoption due to increasing awareness around health and fitness. As consumers seek the best combination of features, price, and quality; most brands are trying to step up in meeting the changing consumer needs via product design and pricing strategies combined with partnerships and collaborations,” stated Anisha Dumbre, Market Analyst, Client Devices, IDC India.
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With inputs from TheIndianEXPRESS
