The market of wearable gadgets includes various products such as fitness bracelets, smart watches and headphones. According to research institute IDC, the dimensions of the wearable gadgets market in India grew by 56.4% in the third quarter of 2022 compared to the third quarter of 2021.
Statistics show that the total sales of health bracelets, smart watches and headphones in the third quarter of this year in India reached 37.2 million units. In the same period of time in 2021, the total sales were 23.7 million units. Indians are more interested in smart wearable gadgets than ever before.
|The share of wearable gadgets in the Indian market
|Sale in the third quarter of 2022
|Sale in the third quarter of 2021
|142 thousand units
|737.9 thousand units
|12 million units
|4.3 million units
|The third vertical component
|25 million units
|18.7 million units
|The fourth vertical component
|37.1 million units
|23.7 million units
According to IDC, the sale of smart watches in the Indian market has experienced a significant growth of 178%. Different brands sold a total of 12 million smart watches in the Indian market in the third quarter of 2022; While the total sales of watches in the third quarter of 2021 had reached 4.3 million units.
In the same period of time, sales of fitness bracelets dropped by 80% and sales of headphones increased by 33%. Indians bought 25 million headphones in the third quarter of this year. The sale of headphones in the third quarter of 2021 in the Indian market had reached 18 million units.
The highest sales of wearable gadgets in India in the third quarter was recorded by the Indian brand BoAt, and this company took 32.1% of the market share. brand Noise came in second place with a share of 13.8%. Fire Boltt, OnePlus and Realme took the third to fifth places with a share of 8.9%, 8.2% and 4.2%, respectively. Realme is the only brand that faced an 18.5% drop in market share. The rest of the brands experienced good growth, for example OnePlus’s share in the Chinese wearable gadgets market increased by more than 107%.
According to the IDC institute, Noise is the top Indian brand in the smart watch market and has been able to increase the sales of its products by 216.5% compared to the previous year. The ColorFit Caliber and ColorFit Icon Buzz together accounted for 30% of all smartwatch sales. The BoAt brand took third place thanks to Xtend and Wave Call watches.
In the fully wireless headphone market, BoAt was able to take 41.1% of the market share thanks to Airdopes 141 and Airdopes 131. Noise became the second and OnePlus the third best brand in the market. The Mivi brand ranked fourth with an impressive 1,921% growth in headphone sales in the third quarter of 2022.