India’s market for wearable devices grew by 30.9 percent quarter-over-quarter (QoQ) in the second quarter of 2019 and 123.6 percent compared to the same quarter a year earlier, thus, reaching all high-end devices worth over 3 million. Single quarter on Wednesday in a report by International Data Corporation (IDC).
As per the report by IDC’s Worldwide Quarterly Wearable Device Tracker, it has further strengthened India’s position as the third largest wear market in the world after China and the US.
“The ear-worn devices market has seen a boom in the last few quarters and will continue in the coming quarters as well, mainly because traditional audio vendors are moving towards wireless devices because of the ease of operation and carrying Provides a device, while participating in a fitness activity or taking a call on the go, “Anisha Dambre, Market Analyst IDC India, said in statement.
According to the market research firm, the growth of wearables can be attributed to the increasing popularity of earbuds worn in the country, surpassing wrist band shipments for the first time in the country at 122.7 percent QoQ and 374.9 percent annually.
The ear wear category includes wireless earphones that track health and fitness or enable smart assistants at the touch of a button or through hot-word detection.
The category accounted for the majority of market shipments with a share of 55.9 percent, followed by wristband 35.2 percent and watches 6.9 percent.
“We are also seeing many smartphone brands launching ear-wear devices as it compliments their smartphone game and they can leverage their brand strengths in this new category. Also, India’s A set of new brands are entering the market. Dumbre said, “Wireless devices at affordable prices help the development of this category.”
The wrist band saw a 24 percent decrease in 2Q19 as the top brands corrected their inventory following heavy shipments in the last quarter.
However, shipments saw a 19.3 percent annual increase compared to the same quarter last year. The average selling price of the category was down 9.7 percent from the previous quarter to $ 26 as the brand launched more affordable options in the market to turn on a new segment of users.
Following the decline in the previous quarter, the watches saw a healthy 99.6 percent YoY and 42.9 percent QoQ growth in 2Q19.
Fossil rebounded after battling stock issues and became the dominant wearable watch brand with a 34 percent category share.
“We are seeing a change in the lifestyle devices segment, with consumers adopting new types of devices to track their health and fitness, reflecting the boom in the wearables segment. Brands on new health tracking features and marketing Rapidly increasing spending. Jaipal Singh, Associate Research Manager, Client Devices, IDC India said that it enabled an active lifestyle Not-for-nothing is helping it become one of the preferred options among fitness enthusiasts.