A new report has revealed interesting details regarding the wearable market in India. In 2022, smartwatches and hearables have seen robust growth, while smart bands/wrist bands have seen a major decline. Here are all the details.

An IDC report found that India saw 30.72 million units of smartwatches being shipped in 2022, which marks a whopping 151.3 percent growth over the previous year which saw just 12.22 million units in sales. On a similar positive trend even the hearables category saw a 28 percent growth year on year, reaching 68.83 million units in shipments last year. However, the wrist band category saw a hefty 84.4 percent decline during this same period, shipping just around 592,000 units in the whole year, compared to 2.2 million units in 2021.

One of the reasons for the decline of smart bands is due to the falling price tags of smartwatches. The latter are generally more powerful and more capable in terms of functionality, so its not surprising that cheaper smartwatches have basically replaced these gadgets. Brands that took advantage of this includes boAt and Noise that took the two top spots in the wearable market in India, with a 29.3 percent and 12.2 percent market share respectively.

Notably, OnePlus also rounded up the top 3 list with an 8.7 percent market share. While most brands saw a rise in this time, boAt’s market share saw a decline but it still leads the market. The top three brands accounted for over half of the entire market primarily due to strong sales in the hearables category, which is worth more than half of the entire wearables market in the region.

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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.

EDITOR’S PICK: boAT edges Xiaomi, Realme and others to top India’s TWS market in Q3 2020

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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