Wearables have been one of many rapidly rising markets in India. According to a report by analysis agency International Data Corporation (IDC), the Indian wearable market posted a 144.3 p.c year-on-year growth in 2020. Shipments in 2020 exited at 36.4 million items. Further, India was the one nation in the highest 20 to see triple-digit growth in wearables in 2020 and continues to be the third-largest wearables market globally.
This growth was majorly driven by the growing acceptance of wearable earbuds and upgrades to smartwatches from health bands, each recording their highest annual shipments in 2020.
As per the report, the earwear shipments grew over thrice in 2020 in comparison with 2019. Demand for extra items was driven by newer, extra inexpensive launches that now started getting used for non-entertainment use-cases too. These embrace digital conferences and e-learning necessities. TWS earbuds additionally featured the best positive factors in shipments with a complete of 11.3 million items shipped in 2020.
“Hearables became one of the most sought-after electronic categories in 2020. The newer version of hearables are much better in managing the increased audio usages and improved aesthetic and design also made them the trendsetter,” Anisha Dumbre, Market Analyst, IDC India mentioned.
“TWS category saw the much-needed price corrections with several vendors launching devices at more affordable price points leading to the drop in the average selling price of TWS to $45 (about Rs 3,274) in 2020 from $110 (about Rs 8,005) in 2019,” she provides.
Watches and health bands recorded the most important quarter in India in This autumn 2020 as distributors shipped 15.2 million items, displaying a growth of 198.2 p.c year-on-year. Additionally, this was additionally the primary quarter when shipments of watches crossed the a million mark, with shipments reaching 1.3 million items in the quarter. The growth was driven by new launches from manufacturers like Noise, Realme, Apple, and Amazfit.