Xiaomi, Boat, Noise lead Indian wearable market amidst 118% growth in 2Q21

India’s wearable market  grew 118 percent year-over year in the second quarter of 2021 between April and June. The International Data Corporation’s India Monthly Wearable Device Tracker has the growth was fueled by earwear and wrist-wearables made by homegrown brands. These product categories, watches continued to be the fastest growing category. It gives 81.2 percent share in the wristwear category, up from 35 percent last year. Earwear meanwhile doubled its shipments in Q2 2021.

Anisha Dumbre , Market Analyst , IDC India said that “Affordability has been the key for Indian brands, and these brands have been immensely successful in gaining a significant portion of the watch market with competitive pricing, aggressive marketing, and faster adoption of new features. This new generation of homegrown brands are digitally native, aware of their limitations and selectively targeting the gaps. However, they need to be watchful of the China-based brands, who going forward will be aggressive by introducing more sub-brands and leveraging the ecosystem play,”.

Noise get a 28.6 percent market share while BoAt came in second with 26.9 percent market share, followed by Huami’s Amazfit lineup with the 9.3 percent market share in the year. The Fire-Boltt with 5.5 percent market share and Realme with 4.7 percent market share, while the remaining brands made up the remaining 25 percent.

The wrist bands category where Xiaomi stayed with 38.9 percent market share, followed by OnePlus at 21.7 percent market share. Titan with 21.3 percent market share and remaining brands made up the 18.1 percent.

In the earwear market, BoAt has the 45.5 percent market share while OnePlus at 8.5 percent. Samsung at 7.9 percent and Realme and Ptron with 5.5 and 5.1 percent market share.

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