India’s wearable market grew 29.2% year-over-year (YoY) to 48.1 million units.
In the third quarter of 2023, Boat and Noise dominate the Indian wearable market.
Smart rings became prominent in 3Q23.
In recent years, India has witnessed a rapid adoption of wearable technology, marking a significant shift in how individuals manage their health, interact with technology, and embrace convenience in their daily lives. According to a new report, India’s wearable market grew 29.2% year-over-year (YoY) to 48.1 million units with Boat and Noise leading the market.
According to a report released by International Data Corporation (IDC), the wearable market in India shipped 48.1 million units during the third quarter of 2023 (July-September), marking year-over-year growth of 29.2%. This achievement contributed to a total shipment of 105.9 million units in the initial three quarters of 2023, surpassing the 100.1 million units shipped throughout the entirety of 2022.
Also read: Samsung beats Apple as smartphone shipments decline by 8-percent: Counterpoint
Let’s check out five interesting facts about India’s wearable market.
- Boat remained a dominant force in the overall wearable market, securing a 29.7% market share, which reflects a growth of 19.4%. Also, in the True Wireless Stereo (TWS) segment, boAt maintained its leadership position with a commanding 37.9% market share, marking a 33.3% YoY growth.
- Noise secured the second position in the overall wearable market, holding a 10.8% market share, despite experiencing a stagnant 0.6% YoY shipment growth.
- In the overall Indian wearable market, Boat holds the leading position, followed by Noise, Fire-Boltt, Oppo(including both Oppo and OnePlus) and Boult Audio.
- In addition to the introduction of new smartwatch and earwear models, the emergence of smart rings gained prominence during the third quarter of 2023.
- The Indian wearable market recorded shipments of 105.9 million units within the initial three quarters of 2023, surpassing the total of 100.1 million units shipped throughout 2022.
It’s important to note that this report by IDC specifically gives information about the third quarter of 2023.
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Ayushi Jain
Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds. View Full Profile
