After releasing a report on India Smartphone Market Q3 2020, IDC has now published a report on India Wearable Market for the same period. According to it, the market shipped a record 11.8 million units accounting for 165.1% YoY growth.
Though India is one of the largest smartphone markets in the world, the wearable market of the country is still a work in progress. However, in the last quarter, companies managed to ship a ton of units, thanks to increased demand.
The demand for these products rose as a result of people working and students continuing their education from the comfort of their homes. Another reason is that they became more affordable than ever before.
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For instance, the average price of smartwatches dropped to $111 in Q3 2020, compared to $175 a year earlier in Q3 2019. Similarly, the average price of TWS declined by 48.6% YoY to $57.
Therefore, the shipments of TWS reached almost 4 million units in the last quarter with a whopping 1156.3% YoY growth. This product category alone contributed to 39.7% of the entire wearable market. Indian brand boAt led the market with a 26.1% share and realme came second with a 15.5% share.
Whereas, the smartwatch shipments grew by 119.9% YoY with 778,000 units making Q3 2020 the strongest quarter ever since the product category’s debut in India. Domestic brand Noise led the market with a 28.5% share, followed by realme, which beat Huami for the second position with a 24.2% share.
On the other hand, although the shipments of smart bands grew by 83.3% QoQ with 962,000 units, its growth actually declined by 20% YoY. Xiaomi led this segment with a 52.4% share, followed by realme with a 14.6% share.
Lastly and most importantly, the whole earwear category recorded its all-time high shipments of 10.048 million units in Q3 2020, and hence, it grew by 260.5% YoY. boAt led the market with a 32.4% share, followed by Samsung (Samsung, Infinity, Harman Kardon, and JBL) with a 15% share.
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