Info-tech

Indian wearables market witnessed over 168 per cent YoY growth in 2019: IDC

Hemani Sheth Mumbai | Updated on February 27, 2020 Published on February 27, 2020

The India wearables market had yet another record year with the shipments of wearables devices registering a 168.3 per cent year-on-year (YoY) growth in 2019, according to International Data Corporation’s (IDC) Worldwide Quarterly Wearable Device Tracker for the fourth quarter of 2019.

The market was dominated by basic wearables with a 96.2 per cent category share and a 177 per cent YoY growth in 2019.

Leading segments

Earwear was the largest segment with 57 per cent market share in shipments of wearables with 443 per cent YoY growth, followed by wristbands with 35.3 per cent market share and a 52 per cent YoY growth. Watches were the third most popular wearables bagging a market share of 6.3 per cent with 77.5 per cent YoY growth.

Commenting on the growth of wearables, Anisha Dumbre, Market Analyst, IDC India said, “Ear-worn devices have found huge appeal with consumers, who are spoiled for choice with a variety of models at different price points. Affordable neckbands are leading the charge of migration from wired to wireless in this category. At the same time, truly wireless devices with improved battery life and connectivity are attracting users to spend more. As more vendors entered this segment with affordable options, the average selling price (ASP) of the category came down to $39 in 2019 from $63 a year ago, resulting in massive growth in this category.”

Leading brands

India based vendor BoAt Lifestyle was the leading brand in earwear with a 27.3 per cent market share in the category in 2019. For the truly wireless segment, Apple continued to lead the segment with its AirPods range, garnering a 43.1 per cent market share in 2019 as per the report.

Xiaomi remained the dominant leader in wristbands with a 48.9 per cent category share growing 54.7 per cent YoY in 2019. Titan stood second with a 14.5 per cent category share as its shipments grew 24.1 per cent during the year.

The watches category were dominated by smartwatches with 61.1 per cent share in 2019. Fossil and Apple were the leading brands in the category with a market share of 30.3 per cent and 26.6 per cent respectively.

Wearables in Health

Apart from these segments, the report also highlighted other segments of wearables with a potential for growth. Health is the market to be tapped into for wearables, it said.

“India is still underpenetrated when it comes to the adoption of wearables for health. Growing concerns around lifestyle diseases, have certainly helped wearables to get initial traction for weight control and physical activity monitoring. However, the market is yet to scale beyond the key cities. Vendors will need to continue to experiment in this segment to explore scalable opportunities.” said Jaipal Singh, Associate Research Manager, Client Devices, IDC India.

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Published on February 27, 2020
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