Wearable market in India is reportedly booming. Smart watch and band sales saw record sales last quarter. 3.72 crore smartwatches and smart bands were sold in the third quarter (July-September). This shows a growth of 56.4 percent over last year. Leading smartwatch brand Bot is number one in sales.
According to IDC, smartwatches have become the fastest growing segment in India. 1.2 crore smartwatches were sold in a single quarter. This shows a growth of 178.8 percent over last year. Basic smartwatches dominate the market. Basic smartwatches account for 95.5 percent of total sales. However, sales of wristbands fell by 80.8 percent.
Most people focus on health monitoring features in smartwatches. Consumers are also considering a larger screen (1.8/1.99 inches), AMOLED display, physical or e-SIM connectivity. Along with this, availability at an affordable price is also important, said Vikas Sharma, senior market analyst at IDC India Client Devices.
According to the IDC report, bot (boAt) is leading with 32.1 percent market share in the third quarter. Noise is second with 13.8 percent market share. Noise has a 29.5 percent share of the wearable market in India. Fire-Bolt is in third place with 8.9 percent share. OnePlus dropped to fourth place in this category with 8.2 percent share. Meanwhile, Realme is at the fifth position.