Wearables have been one of many rapidly rising markets in India. According to a report by analysis agency International Data Corporation (IDC), the Indian wearable market posted a 144.3 p.c year-on-year development in 2020. Shipments in 2020 exited at 36.4 million models. Further, India was the one nation within the high 20 to see triple-digit development in wearables in 2020 and continues to be the third-largest wearables market globally.
This development was majorly pushed by the growing acceptance of wearable earbuds and upgrades to smartwatches from health bands, each recording their highest annual shipments in 2020.
As per the report, the earwear shipments grew over thrice in 2020 in comparison with 2019. Demand for extra models was pushed by newer, extra reasonably priced launches that now started getting used for non-entertainment use-cases too. These embody digital conferences and e-learning necessities. TWS earbuds additionally featured the best positive factors in shipments with a complete of 11.3 million models shipped in 2020.
“Hearables became one of the most sought-after electronic categories in 2020. The newer version of hearables are much better in managing the increased audio usages and improved aesthetic and design also made them the trendsetter,” Anisha Dumbre, Market Analyst, IDC India mentioned.
“TWS category saw the much-needed price corrections with several vendors launching devices at more affordable price points leading to the drop in the average selling price of TWS to $45 (about Rs 3,274) in 2020 from $110 (about Rs 8,005) in 2019,” she provides.
Watches and health bands recorded the largest quarter in India in This autumn 2020 as distributors shipped 15.2 million models, displaying a development of 198.2 p.c year-on-year. Additionally, this was additionally the primary quarter when shipments of watches crossed the a million mark, with shipments reaching 1.3 million models within the quarter. The development was pushed by new launches from manufacturers like Noise, Realme, Apple, and Amazfit.
