India is the only country in the top-20 that has seen three-digit growth in the wearables sector in 2020. And India remains the third largest weaving market globally.
Wearables Demand Growth in India: Everything you should know!
India’s wearables market recorded an annual growth of 144.3% in 2020 and 36.4 million units of shipments throughout 2020. These numbers were dumped into the International Quarterly Wearable Device Tracker of the International Data Corporation (IDC).
This number proves that there is an increasing acceptance of earwear devices and watches that have been upgraded from wrist bands.
Smart Watches Sold More Than Wristband in India!
IDC said that earwear device shipments increased more than three-fold in 2020 compared to the previous year. Truly wireless stereo (TWS) devices were the top beneficiaries, seeing a tenfold increase in 2020 with total shipments of 11.3 million units.
The fourth quarter of 2020 (October – December) recorded the largest quarter for wearables in India, with a three-digit increase. Overall, vendors shipped 15.2 million units in 4Q20, an increase of 198.2%.
Shipment of watches alone crossed the one million mark as 1.3 million units were shipped during the quarter. The new launches of Noise’s Colorfit pro-2, Realme watch, Apple’s Watch Series 6, and Amazfit provided strong growth for the watches in the 4Q20.
Peaking in 2019, Wristbands declined by 34.3% in 2020, as the year ended with 3.3 million unit shipments. The increasing popularity of watches is the main factor in the decline of wristbands.
Xiaomi continued to lead the wristwatch in 2020, with a 46.7% share. Realme, which entered the segment in 2020, finished second with a share of 12.3% category.
Apple Sold More Watches in India Than Any Other Company!
During the year, the watches increased considerably due to the decline in demand for wrist bands. The watches saw a 139.3% YoY increase in 2020 with 2.6 million-unit shipments.
Noise led the watch category with a 24.5% share in 2020 followed by Realme with a 15.7% share in the year. IDC stated that the smartwatch, which can run third-party applications on the device, has a 24.5% share in the watch category and Apple continues to hold a 51.0% share of the smartwatch category in 2020.
The earwear category accounted for 83.6% of the total wearable market share, achieving 30.4 million unit shipments in 2020. BoAt emerged as the largest player in the category, accounting for one-third of shipments of the category.
Samsung ranked second with a 14.5% share in 2020, including JBL, Harman Kardon, Infinity. BoAt leads the TWS segment with a 24.6% share, followed by Realme in 2020 with a 13.5% share.
How many percent of Wristbands, Watches Demand Grew in India?
Wristbands grew 83.3 percent in 3Q20 after seeing a gradual decline in the first half of the year. However, the category declined by 20.3 percent as users began to upgrade the watches.
In the quarter, Xiaomi maintained its lead for more than half the category shipments with a 52.4 percent share. Realme came second in the category with a share of 14.6 percent. Watches of 119.9 percent YoY grew in 3Q20 with 7,78,000 units in India, the biggest quarter since the launch of the category in India.
Indian-brand Shore led the segment with a 28.5 percent category share, followed by Realme, which had a 24.2 percent share in the segment. “The epidemic has strengthened the importance of fitness in our lives.
The motivation to stay fit and lead healthy lifestyles is now forcing users to upgrade to more sophisticated wearable devices with greater expectations around better health tracking, ”Jaipal Singh, Associate Research Manager, Client Devices, IDC India commented.
How Many percents of Ear Buds Demand Grew in India?
The increase in demand for wireless devices supported the earwear category, which saw YoY growth of 260.5 percent.
The leader in the category was BoAt with several launches during the quarter with a 32.4 percent share, followed by Samsung which included devices with a 15.0 percent stake from Samsung, Infinity, Harman Kardon, and JBL.
BoAt led the overall TWS category with a 26.1 percent share, followed by Realme, which finished second with a 15.5 percent market share. Another report by Counterpoint Research also placed boAt as the leader in this category, followed by Xiaomi and Realme.