BoAt dominates the expanding wearables market in India.
- ByStartupStory | November 14, 2022
According to a survey released on Friday, the Indian wearable market shipped 37.2 million devices in the third quarter of 2022 (July-Sep), a 56.4% increase over the previous quarter. BoAt was the market leader.
IDC reports that smartwatches, which include basic and advanced models, continue to be the fastest-growing category, with 12 million shipments in a single quarter, representing a growth of 178.8%. (year-over-year).
Simple smartwatches continue to rule the market, holding a 95.5% share that rose by 187.1% annually in Q3. Wristbands saw yet another quarterly decline with a shipment drop of 80.8% (year over year).”As smartwatches continue to be in high demand across varied customer segments, the need for better specifications and accurate monitoring will be key.” “We will see bigger screen size (1.8 to 1.99 inches), AMOLED display, and physical or e-SIM connectivity in the affordable segment,” stated Vikas Sharma, a senior market analyst with IDC India focusing on client devices.
According to the survey, BoAt maintained its market-share dominance in Q3 with a 32.1% increase year over year.
Noise came in second with a market share of 13.8%. It solidified its dominance in the smartwatch market with a 29.5% share, increasing by 216.5% annually.
Fire-Boltt moved up to third place with a solid 395% year-over-year increase and an 8.9 percentage share.
According to the study, Realme was the only vendor among the top 5 with a -18.5 percent (year over year) drop in shipments in Q3, while OnePlus fell to fourth place in the total wearable category, rising by 107.6 percent (year over year) and gaining 8.2 percent share.
According to a survey released on Friday, the Indian wearable market shipped 37.2 million devices in the third quarter of 2022 (July-Sep), a 56.4% increase over the previous quarter. boAt was the market leader.
IDC reports that smartwatches, which include basic and advanced models, continue to be the fastest-growing category, with 12 million shipments in a single quarter, representing a growth of 178.8%. (year-over-year).
Simple smartwatches continue to rule the market, holding a 95.5% share that rose by 187.1% annually in Q3. Wristbands saw yet another quarterly decline with a shipment drop of 80.8% (year over year).
“As smartwatches continue to be in high demand across varied customer segments, the need for better specifications and accurate monitoring will be key.” “We will see bigger screen size (1.8 to 1.99 inches), AMOLED display, and physical or e-SIM connectivity in the affordable segment,” stated Vikas Sharma, a senior market analyst with IDC India focusing on client devices.
According to the survey, BoAt maintained its market-share dominance in Q3 with a 32.1% increase year over year.
Noise came in second with a market share of 13.8%. It solidified its dominance in the smartwatch market with a 29.5% share, increasing by 216.5% annually.
Fire-Boltt moved up to third place with a solid 395% year-over-year increase and an 8.9 percentage share.
According to the study, Realme was the only vendor among the top 5 with a -18.5 percent (year over year) drop in shipments in Q3, while OnePlus fell to fourth place in the total wearable category, rising by 107.6 percent (year over year) and gaining 8.2 percent share.
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