Due to the pandemic, we have seen a sudden increase in the smart technology field. The devices like fitness watches and ear wears have seen their demand increase due to rising health awareness, remote working, and learning requirements. It has led to record shipment of these wearables in India during the September quarter (Q3 CY20).
According to sources, a total of 11.8 million wearable devices were shipped in the third quarter, which is a whopping 165.1% year-on-year (y-o-y) increase.
The watches category includes wearables with a big screen, fitness trackers, and smartwatches. The devices can install third-party apps and have seen a jump of 119.9% y-o-y to 778,000 units. It is the highest ever recorded growth in the Indian market.
Noise, an Indian lifestyle technology brand, has a 28.5% market share in the country and was leading in the sales of watch category. Realme, which has 24.2% of the market share in India, came in second place.
“The pandemic has reinforced the importance of fitness in our life. The motivation of staying fit and leading a healthy lifestyle is now forcing users to upgrade to more sophisticated wearable devices with greater expectations around improved health tracking.”
With the entry of Chinese and Indian brands in the market, Watches has become quite affordable, and thus sales have also increased. In Q3, the average selling price of the watches was $111, which is approximately ₹8,197.
Shipment of earwear’s including earphones and TWS, i.e., truly wireless stereo, grew 260.5% YoY. BoAt accounted for 32.4% of the sales. Samsung and its various brands, including Infinity, Harman Kardon, and JBL, contributed to 15% of all ear wear in the quarter.
“The pandemic has created a new norm of learning and working from home. Virtual meetings, online classes, and increased time spent on entertainment have led to an intensified demand for earwear devices.”