India ranks top in the smartwatch market as per the Q3 2022 analysis by Counterpoint.
Noise, Fire Boltt, and Boat are the Indian brands that have performed impressively this quarter.
Here is a briefing of how these Indian smartwatch companies have fared along with some details about their current role in the Make in India initiative.
Indians are following their fitness regimes and using smartwatches to keep track of their health and wellness, as well as to have closer accessibility to smartphones. The growing user base is reflected in the recent performance report of the Indian smartwatch market by Counterpoint. India is the biggest smartwatch market with a 171% YoY growth. The interesting takeaway, however, is that various indigenous wearable brands have topped the charts. This may not surprise the folks in India, as these brands have become household names here. But, that may not be the case elsewhere, and also if you want to have a better know-how of these companies, here’s a quick profiling of them for your perusal:
Top performers in the Indian smartwatch market, Q3, 2022
1. Noise
Noise is the market leader with revenue growth of 218% YoY. It is also the third biggest player in the global market and is followed by big shots like Apple and Samsung. While the latter two are involved in HLOS (High-Level Operating System)-based smartwatch business, Noise’s foothold is in the basic smartwatch segment.
In an interview with Gadgets360 earlier this year, the company chief Amit Khatri revealed that at the time they have been manufacturing about 20–25% of a Noise smartwatches in India. Although the brand had started with the business of smartphone cases, they gradually ventured into wearable and hearable space realizing “smartphone accessories would be the next big thing in India”. Well, we would say that their decision has paid off.
2. Fire-Boltt
Now, Noise was followed by Fire-Boltt in the Indian smartwatch market. It had a flat market share compared to the previous quarter which resulted in its second spot in the race. Still, managed to retain its fourth position in the global market thanks to its performance on the domestic ground.
The brand has been following an ‘import-and-sell’ strategy as its products are reportedly imported from China. It is aware that it has to cut down its reliance on these imports and we will have to see how it goes about making the thing entirely in India.
3. Boat
Another local brand that has a place on the list is Boat. It is in the sixth spot with over 2 million in shipment. Albeit not all of its product range seems to be made in India, the company released Boat Wave 47 earlier this year which happens to be made in India. It has also voiced its interest in the Atmarnirbhar Bharat mission by PM Modi. So, going forward we could see more Boat smartwatches being manufactured in India.
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G. S. Vasan
Vasan is a word weaver and tech junkie who is currently geeking out as a news writer at Digit. View Full Profile
