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Despite the increasing shipping costs and other difficulties caused by the pandemic, India’s wearables market is booming – IDC reports that shipments for the July-September period nearly doubled (up 93.8%) compared to the same period last year for a total of 23.8 million units. This was a record quarter for the wearables market.
That growth was driven by two of the three major categories of wearables. Earwear remains the largest category with 18.7 million shipped and a great 77.9% year-over-year growth. Earwear includes wireless over-ear headphones, neckbands and TWS headset – the latter being the biggest sub-category with 7.4 million units shipped. TWS buds have become a high-volume, low-margin business in India with the overwhelming majority of units (86.4%) costing $50 or less.
| India Top 5 Earwear Companies, Market Share, Year-over-Year Growth 2021Q3 (Shipments are in Thousands of Units) | |||
| Company | 3Q21 Market Share | 2Q21 Market Share | Year-over-Year unit change (3Q21 vs 3Q20) |
|
1.Imagine Marketing (BoAt) |
48.0% |
45.5% |
176.7% |
|
2. Realme |
8.5% |
5.5% |
48.8% |
|
3. OnePlus |
7.2% |
8.5% |
4.6% |
|
4. Samsung |
5.3% |
7.9% |
-33.6% |
|
5. Palred (Ptron) |
3.7% |
5.1% |
81.9% |
|
Others |
27.3% |
27.5% |
68.4% |
| Total | 100% | 100% | 77.9% |
|
Source: IDC’s India Monthly Wearable Device Tracker, November 2021 |
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Brand BoAt grew compared to last year and now controls nearly half the market, while Realme managed to edge out OnePlus for the second spot, Samsung is in fourth.
The other major sub-category was smartwatches, which grew a whopping 456.3% compared to last year. With 4.3 million shipments, they far outsell smart bands, which now mark the seventh straight quarter of falling shipments.
| India Top 3 Wrist Band Companies, Market Share, Year-over-Year Growth 2021Q3 (Shipments are in Thousands of Units) | |||
| Company | 3Q21 Market Share | 2Q21 Market Share | Year-over-Year unit change (3Q21 vs 3Q20) |
|
1. Xiaomi |
49.8% |
38.9% |
-27.2% |
|
2. Titan |
16.7% |
21.3% |
37.7% |
|
3. OnePlus |
10.8% |
21.7% |
– |
|
Others |
22.7% |
18.1% |
-54.9% |
| Total | 100% | 100% | -23.6% |
|
Source: IDC’s India Monthly Wearable Device Tracker, November 2021 |
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What’s interesting is that the big smartphone makers have failed to capture the smartwatch market in India – instead Noise, BoAt and Fire-Boltt account for two-thirds of the market. These are India-based companies, the ones with international presence (Realme and Zepp/Amazfit) settled for fourth and fifth.
| India Wearables Product Category Market Share, Year-over-Year Growth 2021Q3 (Shipments are in Thousands of Units) | ||||
| Product Category | 3Q21 Shipments | 3Q20 Shipments | 3Q19 Shipments | Year-over-Year Unit Change (3Q21 vs 3Q20) |
|
1. Earwear |
18,738 |
10,532 |
2,787 |
77.9% |
|
2. Wrist Band |
738 |
966 |
1,206 |
-23.6% |
|
3. Watch |
4,308 |
774 |
354 |
456.3% |
| Total | 23,783 | 12,272 | 4,447 | 93.8% |
|
Source: IDC’s India Monthly Wearable Device Tracker, November 2021 |
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