Nearly 24 million wearables shipped in India in Q3 2021: IDC

According to a report, the wearables market in India which includes smartwatches, earbuds and wristbands grew by 93.8 percent in the third quarter of year-on-year (YoY) 2021. Smartwatches were the fastest-growing category in the quarter between July and September, but truly wireless stereo (TWS) earbuds helped drive the growth of the earwear category. Indian brands such as Noise, Boat, Fire-Bolt, Ptron, and Titan are among the top sellers in the wearables market along with their global counterparts Amazfit, OnePlus, Realme, Samsung, and Xiaomi.

Market research firm International Data Corporation (IDC) reports that shipments of wearables in India reached 23.8 million units in the third quarter. In September alone, the firm said that shipments had crossed the 10 million mark, marking a two-fold increase from the same month last year.

In terms of segment, smartwatches maintained their fastest growth in the Indian wearables market with 4.3 million shipments and registered a massive 456.3 per cent year-on-year turnaround in the third quarter. On the other hand, the earwear segment grew at 77.9 per cent year-on-year with a market share of 39.5 per cent.

The company in its report said that Indian brands which include Shore, Boat and Fire-bolt have captured two-thirds of the total smartwatch market.

With 26 per cent market share in the quarter ended September 30, Gurugram-headquartered Shor maintained the lead for the sixth straight quarter. It was followed by Boat with 23.1 percent. After Boat, Fire-bolt replaced Xiaomi-backed Huami for third place and captured a market share of 15.3 percent in the third quarter – up from 5.5 percent in the previous quarter, IDC said.

With Indian brands, Realme entered the fourth position, while Amazfit maintained its fifth position.

Top Five Smartwatch Vendors in India in Q3 2021 (According to IDC)

company 3Q21 Market Share 2Q21 market share Year-on-Year Unit Change (3Q21 vs. 3Q20)
Noise (NexxBase) 26.0% 28.6% 405.7%
Boat (imagine marketing) 23.1% 26.9% ,
fire-bolt 15.3% 5.5% ,
my true form 7.3% 4.7% 66.7%
Amazfit (Zep) 4.8% 9.3% 139.7%
other 23.5% 25.0% 263.6%

Anisha Dumbrey, Market Analyst for Client Devices at IDC India, said, “Aggressive intent to maintain their lead helped them reduce the average selling price of watches to $73 (approximately Rs. lay down.” ,

Unlike smartwatches, wristbands saw annual declines for the seventh consecutive quarter. The firm said that the wristwear segment comprising smartwatches and wristbands has crossed the 5 million shipment mark in the same quarter.

Xiaomi maintained the lead in the wristband market segment with a 49.9 percent share. However, the third quarter saw a 27.2 percent drop in its year-on-year growth. Titan is second with 16.7 percent share after Xiaomi. On the other hand, OnePlus stood third in the quarter with a 10.8 percent share.

Top Five Wristband Sellers in India in Q3 2021 (According to IDC)

company 3Q21 Market Share 2Q21 market share Year-on-Year Unit Change (3Q21 vs. 3Q20)
Xiaomi 49.8% 38.9% -27.2%
Titan 16.7% 21.3% 37.7%
oneplus 10.8% 21.7% ,
other 22.7% 18.1% -54.9%

In the earwear segment, TWS earbuds, neckbands and wireless over-the-ear headphones clocked 18.7 million units in the third quarter. Bot led the segment with 48 percent share, followed by Realme and OnePlus. Samsung which includes JBL, Harman Kardon and Infinity finished fourth on the second front and Patron retained its fifth position.

IDC said a total of 7.4 million TWS earbuds were shipped to the market, up 70.5 percent year-on-year in the third quarter. 86.4 percent of the total TWS earbuds shipments come under $50 (approximately Rs 3,700) price tag.

Total TWS earbuds accounted for 39.5 per cent of the total earwear segment in the market in the third quarter, the firm said. BOT led the TWS category with 37.3 percent stake.

Top five earwear sellers in India in Q3 2021 (as per IDC)

company 3Q21 Market Share 2Q21 market share Year-on-Year Unit Change (3Q21 vs. 3Q20)
Boat (imagine marketing) 48.0% 45.5% 176.7%
my true form 8.5% 5.5% 48.8%
oneplus 7.2% 8.5% 4.6%
samsung 22.7% 18.1% -54.9%
Ptron (Palred) 3.7% 5.1% 81.9%
other 27.3% 27.5% 68.4%

“Celebrity endorsement is a key strategy for brand recall. However, they must invest more in new designs and aesthetics as well as new collaborations with existing franchisees to keep up with the growth momentum. This can help in creating unique product experiences that will not only help in connecting with new customers but can also open new avenues for selling these products,” said Jaipal Singh, Research Manager, Client Devices, IDC India.


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