Wearable Market In India – The International Data Corporation (IDC) has posted its quarterly analysis of the wearable market in the beautiful country of India, they have revealed an impressive analysis of 29.2 percent growth YoY. The company to rank as top was boAt, dominating the market with a 29.7 percent share, almost three times more than the second-placed Noise.
Between July-September period, the country saw about 48.1 million shipments, which amounted to a total of 105.9 million units– a 5.8 percent increase was noticed compared with the first three quarters of the year 2022.
The overall average selling price (ASP) reduced from $27.2 to $21.7, fueled by the arrival of a new type of product which is smart rings. Smartwatches as a category grew to 41 percent, while wristbands declined to 23.4 percent, but the borders between these two are becoming gradually blurred. Hence, the top category was audio wearables, with 30.9 million shipments (out of the total 48.1M).
The lead company_ boAt kept its leadership mainly because of its TWS products which have a 33.3 percent growth YoY. The main reason the company is still leading is because the company kept bringing new audio-related features in partnership with Qualcomm, Dirac, and Dolby and this has also expanded its India-based manufacturing partner level.
