India wearables market logs 23.8 million units shipment in Q3: IDC
India's wearable market
grew 93.8 per cent year-on-year (YoY) in the July-September 2021 quarter,
shipping 23.8 million units, as per data from IDC India.
Despite the logistic
challenges and increase in freight costs, vendors remained aggressive in their
shipments and were able to manage the inventory for the upcoming month-long
festival sales, IDC said.
Shipments in September
surpassed 10 million, growing two-fold from the same month last year, resulting
in a record quarter for wearable devices in India, it added.
Watches continued to be
the fastest-growing category with 4.3 million shipments in the third quarter,
while wristbands saw a seventh consecutive quarter of annual decline to 738,000
units, IDC said.
Truly Wireless (TWS or
earbuds) devices reached a 39.5 per cent share of the earwear segment (18.73
million units shipment) in the quarter under review, but the market remains
dominated by over-the-ear and tethered devices, it added.
While seasonality made
Q321 the biggest quarter for wearables, the influx of devices at the
entry-level was the key growth factor. Throughout the quarter, Indian vendors
were aggressive with their launches and channel expansion," IDC India
Market Analyst (Client Devices) Anisha Dumbre said.
Aggressive intent to
maintain their lead helped them to further reduce the average selling price of
watches to USD 73, putting immense pressure on a struggling wrist band
category, she added.
IDC said India-based
brands have captured over two-thirds of the watch market with their aggressive
offerings and marketing spends on digital platforms.
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