The wearables segment comprises of fitness trackers, smartwatches and audio devices. As per International Data Corporation (IDC), the wearable market in India grew 56.4 percent year-on-year in the third quarter of 2022 i.e. the period from July to September. All three product categories contributed to 37.2 million shipments compared to 23.7 million units in the same period last year. 

As per the IDC report, smartwatches registered a massive 178 percent YoY growth. Brands sold 12 million smartwatches in the Q3 2022 compared to 4.3 million in Q3 2021. Meanwhile, shipments of fitness trackers declined 80 percent. Earwear category recorded 33 percent change with 25 million units sold compared to 18 million during the corresponding year. 

boAt led the overall wearable market with 32.1 percent share whereas Noise came second with 13.8 percent share. Fire Boltt sits at the third spot with 8.9 percent share. OnePlus and Realme bagged the fourth and fifth spots respectively with 8.2 and 4.2 percent share in the market respectively. Realme was the only brand that recorded a negative 18.5 percent year-on-year market share decline. 

Now coming to the smartwatch category, Noise led the market with 216.5 percent YoY growth. The brand’s ColorFit Caliber and ColorFit Icon Buzz accounted for more than 30 percent of shipments. Fire Boltt’s Ninja Pro Max, Ring 3 & Ninja Bell smartwatches pushed the brand to the second spot. boAt came in third place thanks to Xtend and Wave Call smartwatches. 

In the truly wireless segment, boAt had 41.1 percent share courtesy of Airdopes 141 and 131 which were top sellers. Noise maintained the second position whereas OnePlus bagged the third spot with 6.8 percent share due the contribution of Bullets Wireless Z2. Mivi grew by 1921.1% YoY in the earwear category and is in fourth place in the TWS headset category.

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