India’s wearable mkt logs over 118% growth to 11.2 mn units in Q2: IDC
01 September 2021: India’s wearables market grew 118.2% YoY in the June 2021 quarter at 11.2 million units with robust shipments from homebased brands in earwear and watches propelling this growth, according to research firm IDC.
The second wave of COVID-19 had a marginal impact as the total wearable (which includes smartwatches, wrist bands and earwear) shipments declined by 1.3% sequentially in the June quarter. Partial lockdowns, weekend curfews, and disturbed supply chains occasioned in a skewed slump in the early-quarter shipments, IDC said.
IDC India Research Manager (Client Devices) Jaipal Singh said the strong growth in wearable is enticing brands who have businesses around devices and accessories to increase their presence across all wearable categories. “Thus, the invasion of new entrants remains a key driver of growth. As we approach the festive season, vendors and channel partners are pitching up for record level of demand with the intention of further corrections in the prices,” Singh added.
Singh noted that an positive of over 35% seems an easily attainable feat in the second half of 2021 when equated to the same period last year. “Though, retailers will be selective in their channel inventory with emphasis on remains on e-tailers as concerns around COVID-19 third wave still prevails in the country,” he added.
“Among the top five (watch) brands, three spots are captured by Indian brands, while Huami (Amazfit) and Realme are at third and fifth positions, respectively. Noise continues to be the leading player in the overall watch category for five straight quarters with a 28.6% share in Q2 2021,” it added.
Xiaomi maintained the numero uno spot in the wristband category with 38.9% share, followed by Oneplus (21.7%) and Titan 21.3% share. “Affordability has been crucial for Indian brands, and these brands have been hugely successful in gaining a significant portion of the watch market with competitive pricing, aggressive marketing, and faster adoption of new features,” Ms. Anisha Dumbre, Market Analyst (Client Devices) at IDC India, said.
