In the first half of 2022 (1H22), the Indian wearables market grew by 65.8% year over year (YoY), according to a new analysis by International Data Corporation. Homegrown players, such as Noise, held the majority of the shipment share (IDC). According to the market research company, 38 million units of wearables, including wristbands (or fitness bands), smartwatches, and earwear (TWS earphones), were shipped to the Indian market in the first half of this year (January to June). Shipments of TWS earbuds were led by Boat, and those of smartwatches by Noise.
Comprehensive Research of Wearables Shipments in India in 2022
Out of the 38 million units, 23.9 million wearable devices were shipped in the second quarter of 2022 (April–June), expanding by 113% YoY, according to IDC’s India Monthly Wearable Device Tracker. In addition to affordability, which was a key growth driver, fresh launches, discounts, and marketing helped to support shipments in the Indian market. In 2Q22, there was a 7.2% YoY fall in the overall average selling price (ASP). With shipments exceeding 6.4 million units and achieving a growth of 298.4% YoY in 2Q22, IDC reports that Watch-based wearables are still the fastest-growing category. With a market share of 95.2%, basic watches led in 2Q22, growing by 306.4% yearly. Weaker demand caused the growth of wristbands to drop by 63.0% YoY. With TWS earbuds now making up half of the earwear shipments, “Hearables accounted for 72.6% of the overall wearables category.” Boat led with a 34.3% market share in 2Q22 thanks to its emphasis on earwear device expansion, according to corporate highlights. With a market share of 11.5%, Noise took second place, and in the second quarter of 2012, with a share of 28.5%, it reclaimed the top spot in the wearables market for watches. By concentrating significantly on the earwear area, OnePlus came in third in the total wearable category. Fire-Boltt and Realme occupied the fourth and fifth positions, respectively.
