“The earwear category witnessed a YoY growth of 443.6 percent with over 8.5 million units and wrist band wearables saw a growth of 52.6 percent YoY”
Indian wearable market has witnessed an impressive 168.3 percent year-on-year (YoY) growth in 2019 with over 14.9 million units shipped, according to a new report by IDC. Basic wearables accounted for 96.2 percent of India’s wearables market, which is a 177 percent YoY increase. Smart wearables that can run third-party apps accounted for 3.8 percent of the overall wearable shipments in 2019 and registered 49.5 percent growth from the previous year. The earwear category witnessed a YoY growth of 443.6 percent with over 8.5 million units, and lastly, the wrist band wearables saw an increase of 52.6 percent YoY.
In Q4 2019, wearable vendors shipped a total of 5.1 million units, thereby making it the seventh consecutive quarter with double-digit growth in shipments. The wrist bands market also grew with 1.5 million shipments in the last quarter and 5.3 million units in the entire year. Xiaomi led the segment with 48.9 percent category share and rose 54.7 percent YoY in 2019. Titan retained its second position with a 14.5 percent share as the shipments grew 24.1 percent in the year.
As for the watches, a total of 933,000 units were shipped during the year, which is a 77.5 percent YoY growth. Fossil led the category with a 30.3 percent share, followed by Apple with a 26.6 percent share in 2019. Huami Amazfit brand took the lead in the basic wearables category. As for the earwear segment, BoAt Lifestyle stood at the top with a 27.3 percent market share, but Apple retained its position at the top in the truly wireless segment with 43.1 percent market share.
Anisha Dumbre, Market Analyst, IDC India, stated, “Ear-worn devices have found huge appeal with consumers, who are spoiled for choice with a variety of models at different price points. Affordable neckbands are leading the charge of migration from wired to wireless in this category. At the same time, truly wireless devices with improved battery life and connectivity are attracting users to spend more. As more vendors entered this segment with affordable options, the average selling price (ASP) of the category came down to $39 in 2019 from $63 a year ago, resulting in massive growth in this category.“