Indian wearable market grew 144.3 % year-over-year (YoY) in 2020 making India the one nation within the high 20 to have triple digit progress, in keeping with market analysis agency Worldwide Knowledge Company (IDC). The corporate tracks each smartwatches and wristbands, in addition to earphones on this class. The info exhibits that in 2020, Actually Wi-fi Stereo (TWS) earphones noticed a tenfold enhance with shipments totaling 11.3 million models in 2020. Customers additionally upgraded from wristbands to watches, resulting in report annual shipments within the class.
India was among the many high 20 international locations to see probably the most progress within the wearable phase in 2020. It was the one nation that had triple digit progress of 144.3 % in comparison with the earlier yr in keeping with information by IDC. There have been 36.4 million wearable unit shipments by the tip of 2020. These embrace wristbands, watches (fundamental watches and smartwatches), and earwear. Because of reasonably priced launches, Earwear system shipments grew 3 times as a lot in 2020 in comparison with the earlier yr. This was additionally fueled by digital conferences and e-learning necessities. TWS earphone shipments grew by 11.3 million models in 2020.
In This autumn final yr, 15.2 million models of wearables have been shipped by distributors which was a 198.2 % progress YoY. When it comes to watches shipments, greater than 1.3 million models have been shipped within the final quarter of 2020 which was the primary time watch shipments crossed a million, as per the info.
Total wristband shipments declined YoY as watches turned extra well-liked and extra reasonably priced. Xiaomi continued to seize the utmost market share for wristbands at 46.7 %. Realme had 12.3 % market share in wristbands in 2020. Watches noticed 139.3 % YoY progress with 2.6-million unit shipments in 2020. The watch class was dominated by Noise at 24.5 % market share in 2020 and Realme took second place with 15.7 % market share. In relation to smartwatches, the report states Apple continued to steer the phase with 51 % share in 2020.
Coming to earwear, 30.4 million models have been shipped in 2020 which accounts for 83.6 % of the general wearable market in India. boAt lead each headphone and TWS phase with round 33 % and 24.6 % market share respectively. Realme had 13.5 % market share in TWS phase final yr.
IDC considers each fundamental watches and smartwatches beneath its ‘watch’ class Primary watches have a microprocessor, digitally processing information, have wi-fi connectivity, however don’t run third-party functions. Smartwatches meet all 4 necessities and conventional analog/ digital watches are excluded. Units thought of beneath ‘earwear’ should provide performance past simply audio like a sensible assistant, audio expertise enhancement, well being and health monitoring, or language translation.
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