Wearables have proved to be a rapidly growing category in India, a report from the International Data Corporation (IDC) has indicated. According to the market research firm’s India Monthly Wearable Device Tracker report, 23.9 million wearable devices were shipped in India in the second quarter, a 113 percent growth from the previous year.
The report said that while Q2 2022 shipments saw a 113 percent rise, wearable shipments from Q1 2022 saw a 65.8 percent year-on-year growth. Watch-based wearables were the fastest-growing category, shipping 6.4 million units with a 298 percent year-on-year growth. Basic watches, on the other hand, continue to dominate the segment with a 95.2 percent market share, growing by about 306.4 percent year-on-year, according to the IDC report. Wrist bands, on the other hand, declined by 63 percent year-on-year. Audio-based wearables or “hearables" accounted for 72.6 percent of the overall wearables category, with TWS earbuds now accounting for half of the earwear shipments, registering a 187.4 percent growth as compared to last year.
Boat led the Indian market with a 34.3 percent market share in 2022, growing at a 76.6 percent year-on-year rate. It focused on the expansion of earwear, with a 42.8 percent market share in TWS earbuds and a 19.7 percent share in watch-based wearables. Noise came second with a 11.5 percent market share overall. Noise, however, regained leadership in the watch-based segment, with a 42.8 percent market share in India.
OnePlus saw a growth of 129.7 percent year-on-year, as the company focused on the earwear category, standing second in the overall earwear category with an 11.9 percent market share, finishing fifth in the TWS category. Fire-Boltt saw an astonishing 1,432.5 percent year-on-year growth, finishing fourth in the overall wearables category in Q2 2022. Fire-Boltt was followed by Realme, which came fifth, registering an 87.9 percent year-on-year growth.
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