After publishing a report on the Indian smartphone market in the third quarter of 2020, IDC now publishes a report on the Indian wearable market for the same period. According to it, market shipments reached a record 11.8 million units, a year-on-year increase of 165.1%
Although India is one of the largest smartphone markets in the world, the country’s wearable market is still under development. However, due to increased demand, the company managed to ship many tons in the last quarter.
The increased demand for these products is due to the continued education of working people and students in the comfort of their homes. Another reason is that they are becoming more affordable than ever.
For example, the average price of a smart watch fell to $111 in the third quarter of 2020, and it was $175 in the third quarter of 2019.
Similarly, the average price of the trading platform dropped by 48.6% year-on-year to $57. Therefore, in the last quarter, TWS shipments reached nearly 4 million units, an increase of 1156.3% year-on-year.
This product category alone accounts for 39.7% of the entire wearable market. Indian brand boAt leads the market with a market share of 26.1%, while realme ranks second with a market share of 15.5%.
Smartwatch shipments increased by 119.9% year-on-year to 778,000 units, making the third quarter of 2020 the strongest quarter since the product category debuted in India. Local brand Noise leads the market with a 28.5% share, followed by realme, which beats Huami with 24.2% to rank second.
On the other hand, although the shipment of smart bands increased by 83.3% month-on-month to 962,000 units, its growth dropped by 20% year-on-year.
Xiaomi leads this market segment with a share of 52.4%, followed by Realme with a share of 14.6%.
The last and most important point is that the entire headphone category set a record shipment of 10.048 million sets in the third quarter of 2020, thus increasing by 260.5% year-on-year.
BoAt leads the market with a market share of 32.4%, followed by Samsung (Samsung, Infinity, Harman Kardon and JBL) with a market share of 15%.