IDC says that Indians have bought 4.6x more smartwatches in 2021
, by Anusiya M, 1 min reading time
According to market research firm IDC India, a total of 14.4 million wearables were sold in India last year, with smartwatches accounting for 12.2 million of those. According to IDC statistics, smartwatches rose rapidly in 2021.
Shipments of smartwatches increased 4.6 times between 2010 and 2020, with two Indian brands benefiting the most.
The main growing element, according to experts, has been the decline in smartwatch pricing, which has led many customers to choose smartwatches over simple fitness bands." One of the key drivers of the wearable watch market's exponential rise has been affordability.
The ASP of the watches was Rs. 4,696 in 2020, down from Rs. 9,278 in 2020, due to competition at the entry-level pricing points.
Anisha Dumbre, a market analyst at IDC India, echoed the sentiment that this was placing a lot of pressure on new entrants and established businesses to stand out in the market. Shipments of wearable brands Boat and Fire-Boltt are expected to rise the most through 2021.
According to IDC, Boat's market share increased from 2.8 percent in 2020 to 25.1 percent in 2021, while Fire-market Boltt's share increased from 0.3 percent in 2020 to 11.6 percent last year.
Noise, an Indian brand, lead the industry with a 410 percent increase in exports, capturing 27 percent of the market.
Analysts anticipate that, in the future, wearables will be more affordable, allowing them to infiltrate markets beyond India's tier I circles.
The oomph factor: Marc Jacobs Riley is here
All for the Pride: Apple will release Pride Edition.
Motiv Ring along with Alexa will assist to find your lost phone