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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Market research firm Canalys recently released its research data containing the quarterly report of the wearable wristband market in China for the third quarter of the current year. The report shows that embattled Chinese tech giant Huawei continues to dominate the domestic market despite losing ground overseas. The tech giant controlled a market share of 24% to lead the pack. However, Huawei’s market share is shown to represent a 27% drop in its YoY performance.

Xiaomi has been a strong player in the smart wearable market since the launch of the extremely popular Mi Band models, especially the revolutionary Band 2. Xiaomi trailed Huawei closely with a 22% share of the market which is a positive 6% growth YoY.

In third place is a new entrant known as XTC which cornered a 10% share of the market while US tech giant and global wearable market leader Apple came in at fourth place with a 9% share of the market. Interestingly, Apple’s market share represents a massive 53% surge in its sales compared to last year. This huge growth may be due to the release of new products this quarter.

Finally, OPPO completes the top 5 ranking with a 4% market share, representing a 12% annual growth.

Canalys also released a ranking of the global wearable wristband market showing that a total of 49 million smart wearables were shipped globally in Q3 2022. This represents a year-on-year increase of 3.4%. The report showed a consistent pattern of growth of smartwatches and a decline in smart band sales.

Apple leads the global wearable market with a 20% market share followed by Samsung, Xiaomi, Indian manufacturer Noise, and Huawei. It is impressive to see Huawei make the cut in the global market considering the US government’s sanctions against the company.

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A new report has revealed interesting insight regarding the Indian smart wearable market. Looking at this report, we can see that boAt managed to take the throne in the market, with the region also seeing an impressive growth overall.

The news arrives from an IDC report, which claimed that 23.9 million units of wearable devices were shipped in the second quarter of this year. This marked an increase of a whopping 113 percent compared to the same period last year. Furthermore, the first half of the year saw 38 million units of wearable gadgets being shipped, which also marked a rise of 65.8 percent year on year.

During this time, boAt lead the segment with a massive 34.3 percent market share, which also saw a significant 76.6 percent rise over last year. Following this brand, Noise took the second spot in the country with a market share of 11.5 percent. Furthermore, OnePlus, Fire-Boltt, and Realme rounded up the top 5 spots in the region with an 8.7 percent, 6.8 percent, and 4.6 percent market share respectively. Talking about the smartwatch category alone, Noise came out on top in this list with a 28.5 percent market share.

Notably, this category also saw immense growth, with a 296 percent rise year on year compared to the same period last year. Fire-Boltt took the second spot with a 24.7 percent market share. The report added that strong online and offline promotions helped boost sales, while newer models being announced also helped the companies expand their presence in the region.

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Zepp Health has just reported that its global shipments have seen a surge in the third quarter of this year. The news arrives from IDC in its report titled “Q3 2021 Quarterly Wearable Device Tracker.”

As per the report, the brand’s two subsidiaries Amazfit and Zepp saw a notable rise in shipment in the global wearable market, with both brands seeing the highest growth among the top five market leaders in terms of sales. The Chinese wearables maker also saw great performance in various different countries and regions during this time. It ranked first in Brazil, the Czech Republic, Russia, and Indonesia, achieving a market share above 30 percent in Brazil and the Czech Republic.

On the other hand, Zepp Health had a marker share of around 20 percent in nations like Italy, Thailand, and Spain, which had it rank second in each of these regions. Similarly, the brand also ranked third in Mexico, fourth in Germany, South Korea, and Japan, and fifth in India and Saudi Arabia. Its third quarter performance saw a boost thanks to the Black Friday sales and Cyber Monday promotional events on Amazon.

During this time, the company even offered various holiday sales promotions, which helped further drive sales. Talking about some of its popular wearable products, Amazfit’s GTR 3 and GTS 3 series smartwatches saw great success in various markets, with the former being a popular seller on Amazon and even being recognized as “Amazon’s Choice.”

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Earlier today (9th December 2021), IDC shared a new report titled “China Wearable Device Market Quarterly Tracking Report” for third quarter of this year, which revealed the regions growth in the wearable segment.

According to the report, the Chinese market shipped 35.28 million units in the third quarter of 2021. This marked an overall growth of just 5 percent year on year and signified a decline in the growth rate of the market. There were three primary reason for the slow down, including a weak market demand, supply chain issues, and a lack of products in certain segments of the category. But despite the overall market slowing down, the hearables category still saw a notable growth.

During the third quarter, the hearables category, which includes earphones, headphones, and earbuds, saw sales reaching nearly 20 million units. This showcased a growth of a sizeable 40 percent. However, while this is a health rise in shipments, the hearables segment also saw a decline in growth rate. On the other hand, the smartwatch shipments hit just 10.68 million units, which saw the market decline by a modest 2.3 percent year on year.

IDC China’s Senior Research Manager, Pan Xuefei, stated that with the improvement in living standards and impacts of the pandemic, products that offered sports and health related features saw great success in the region. Wearables like smart bands became even more popular with the low and mid segments seeing the most growth. Although, the shortage of semiconductors leading to fewer launches caused the market to see a slow down in China.

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Data released by Canalys shows that the global wearable market recorded a 5.6% year-on-year growth in Q2 2021 with an estimated 40.9 million wearables shipped during the period.

The report also shows that Chinese tech giant Xiaomi leapfrogged Apple to emerge as the top-selling wearable brand in Q2 2021. Xiaomi’s feat was made possible by the exploit of the Mi Smart Band 6 which performed well despite not launching in India during the period. Xiaomi just launched the Mi Band 6 in India and we expect it to continue to drive sales for the Chinese manufacturer.

Surprisingly, embattled Chinese tech giant Huawei held on to the third spot of which we know the sale is being driven by the Chinese market, one of the world’s largest. Huawei is closely followed by Fitbit with Samsung completing the top 5 spots.

Xiaomi’s feat comes at a time the smart band market has been declining, a trend which started in Q4 2020 and extended to the first quarter of this year. Smartwatches are, however, replacing the basic bands and Apple is in the lead in that segment. The Cupertino-based company controls about 31.1% share of the market in Q2 2021.

Huawei occupies the second spot with an estimated 9% share of the market. Others include Garmin with a 7.6% market share, Samsung with a 7% share, and Xiaomi with an estimated market share of 5.7%.

The report noted that smartwatches now account for 62% of global wearable band shipments. We expect this trend to continue as manufacturers are increasingly developing models crammed with loads of vital features. Apple is also expected to hold on to its lead of the market in Q3 and Q4 as it slashes the prices of its current models preparatory to the Watch Series 7 launch. The Watch Series 7 is also expected to drive sales in the fourth quarter when it is released.

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The global shipments of wearable products reached 153.5 million units in the fourth and final quarter of last year. This marked a year on year growth of 27.2 percent in this period while the annual shipments rose by over 28 percent, reaching 444.7 million units, with Apple leading the market once more.

According to an IDC report, the holiday season was a big driver for sales, owing to new launches and lowering prices. However, the surging demand is also due to the rising trend of wearable products, especially as disposable income rose due to falling expenditure on leisure activities during the pandemic. Furthermore, the rise in demand also marks a shift in the market trends and increasing popularity of smaller connected devices.

Apple led the market with an overall share of 36.2 percent in the fourth quarter of 2020. Its Watch shipments rose by 45.6 percent during this period, thanks to rising appeal of its three models aimed at different price segments, namely Series 6, Watch SE, and Series 3. Furthermore, even its hearables shipments rose during this quarter, despite its year on year performance showing a slight fall to 22 percent, down from 28 percent and 29 percent in the previous two quarters.

Despite the overall market seeing a rise, the growth was not even across various segments of the market, as companies and brands were also affected by the ongoing issue of global semiconductor shortages. Notably, the wristband category declined by 17.8 percent during the final quarter and only accounted for 11.5 percent of the all wearables shipped. By far, the hearables category accounted for the largest share of shipments, with a 64.2 percent share. This was followed by watches that accounted for 24.1 percent market share.

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If you find a person wearing Wireless Bluetooth earbuds/headphones, you shouldn’t think it’s because of the crazy 2020 year. As Counterpoint Research points out, the TWS(Truly Wireless) hearables have dominated the 2020 wearable market and 2021 will be the turn of wristwear(Smartwatches).

According to the report, just the Earwear and Wristwear products alone shared 93% of the overall Wearable market shipments as of Q3 2020. The other 7% meager share is occupied by Eyewear, Bodywear(3% each), and Skinwear(1%).

If the report’s data is anything to go by, TWS yearly shipments is expected to settle at 238 million shipments for 2020. This is an 83% growth from last year when the hearables weren’t that popular. Sure, companies like Samsung, Apple had already launched them but they were in the premium category.

Not all can afford costlier TWS earbuds and enter budget brands like realme, Xiaomi. Speaking of brands, Apple dominates the market with a 29% TWS shipments share(as of Q3). To emphasize this more, the report says that Apple also dominates the Smartwatch space with a 28% share. If you recall, the company began the year 2020 with a whopping 43.4 million shipments in Q4 2019.

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Continuing the moment into 2020, Ms. Sujeong Lim, Senior Analyst, says Apple’s iOS ecosystem is one of the catalysts. If you look at rival Samsung, it is nowhere near Apple with just a 5% share. One of the reasons why TWS drove the wearable shipments is due to the omission of 3.5mm jacks in smartphones.

Trickle-down to the budget category and you see Xiaomi is the king with a 13% market share sitting only next to Apple at 2nd.

Although the list is common and not categorized, the report says by the cusp of 2020, the Top-10 list had more than 50% belonging to the budget categories. At the budget of $20-$50 and below, some notable ones were Redmi Earbuds S, realme Buds Q, and more.

realme despite sitting at last already has reached a 2% share in just one year. And countries like India should be a deciding factor in the future just like they did in Q3.

Regarding Smartwatches, the report says that it will reach 100 million shipments this year. However, moving into 2021, you can expect this to dominate more. Increased awareness on health and fitness will drive the smartwatch sales this year. And if brands bring the prices down, we can see double-digit growth for sure.

UP NEXT: ZMI PurPods TWS earbuds announced in China for 199 Yuan ($30)

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Latest data released by IDC indicates that the global shipments of wearable devices reached 32 million units in the third quarter of 2018, up 21.7% from the previous year. The data shows that the astronomical rise in shipments YoY is due to a sporadic increase in the number of new wearable devices OEMs introduced during the quarter. Specifically, new products from the likes of Fitbit, Garmin, and Huawei were shown to have helped the basic wearables category return to growth during the quarter.

The data also showed that growing demand in markets like Asia-Pacific (excluding Japan) was another driving factor and this accounted for more than half of all shipments. The growth in these markets was up to 21.4% higher than the previous year, according to IDC. The US market transitioning from one driven by new users to one that relies on replacement devices and upgrades and so, the market declines 0.4% Year on Year.

In the third quarter under review, Xiaomi grabbed the top position, thanks to the success of the Mi Band 3 and its significant expansion beyond its home country of China. Though typically China accounts for well over 80% of Xiaomi’s shipment volume, this quarter that share fell to 61% as the company managed to grow its presence in other markets such as India, Europe, and Middle East and Africa.

Closely following, is Apple which managed to launch its Series 4 Watch, its first watch approved for medical use, towards the end of the quarter. The new design and sizes along with the latest version of Watch OS were welcome changes although the latest series only accounted for less than 20% of all Apple Watch shipments. The reduced price on the still affable Series 3 accounted for the majority of Apple’s shipments during the quarter.

On the third spot is Fitbit whose latest devices, including the Versa, Charge 3, and the Ace, helped the company slow its decline compared to previous quarters. The success of the Versa catapulted the company back into reckoning as the second largest smartwatch vendor. IDC expects this to continue in the near term. Furthermore, Huawei edged Samsung to maintain its number four position worldwide but the majority of the firm’s wearable devices were sold in China. On the other hand, the Honor sub-brand introduced a new set of earphones that tracks heart rate during workouts.

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The fifth spot is occupied by Samsung which stretched its lead past other contenders. Samsung’s product arsenal isn’t too broad and it relies on the Gear S3 and Fear Fit wristbands to drive sales volumes. The company also launched its next-generation smartwatch, the Galaxy Watch, marking the first time that a wearable device moved away from its traditional “Gear” moniker to the “Galaxy” sub-brand, alongside its smartphones and tablets.

(source)

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Xiaomi and Apple have been dominating the smart wearable market for consecutive quarters starting from last year. The report for Q2 2017 showed Xiaomi led the market, relegating Apple to second place. Research firm Canalys has now released its own report of the smart wearable market for Q1 2018. The report showed Apple dominated the market with an estimated 3.8 million while Xiaomi came in second with a total shipment of 3.7 million.

According to the report, Apple’s shipments got a big boost from the Watch Series 3 and the addition of LTE. On its part, 90% of Xiaomi’s shipments were for the Mi Band models especially the Mi Band 2. Other players in the top 5 include Fitbit, Garmin and Huawei.

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On the whole, the wearable market grew by 35% when compared to the first quarter of last year. A total of 20.5 million wearables were shipped by all the market players. Although more wearable band units were sold, 80% of the revenue accrued to the market is from smartwatches. That means despite the closeness of Xiaomi’s gross shipment to that of Apple, the revenue will be nowhere near each other. Apple also led the smartwatch market while Garmin came in second with 1 million shipments. Unfortunately, Canalys did not reveal the revenue accrued to each manufacturer.

(source)

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