Local brands gain as India’s wearable market grows: IDC

NEW DELHI: According to a new report by research and analytics firm IDC, India’s wearable market grew by 93.8% year-over-year (YoY) in 3Q21 (July-Sept), shipping 23.8 million units. The wearable market in India comprises smartwatches, earbuds and wristbands and despite the logistic challenges and increase in freight costs, vendors remained aggressive in their shipments. Shipments in September surpassed 10 million, growing two-fold from the same month last year.

As per the report, smartwatches continue to be the fastest-growing category with 4.3 million shipments in Q321. On the other hand, the wristband segment saw a seventh consecutive quarter of annual decline. Truly Wireless (TWS) devices reached a 39.5% share of ear wear in 3Q21, but the market remains dominated by over-the-ear and tethered devices.