Lower penetration, affordability to make India top wearables market in 2023

India is likely to become the world’s largest market for wearables by the end of 2023, The Economic Times (ET) reported citing data from market research firm IDC India. The news comes at a time when markets like North America and China are going through a tough phase and are showing signs of saturation.

India is expected to account for 130-135 million units of the total 504.1 million wearables, which is around 26 per cent of the total units shipped around the world. India shipped 100 million units of wearables last year out of a total of 492 million around the world which was only second to China and North America.