Indian Economy News

India world's top smartwatch market

  • IBEF
  • November 30, 2022

India surpassed North America and China to become the largest smartwatch market in the world in the third quarter of this year, driven by local businesses, extremely affordable goods, and holiday demand.

As opposed to the scenario in smartphones, where Chinese companies predominate, the brands contributing to the surge are primarily local ones, giving the leadership significance. The major international companies Samsung and Apple are seeing solid demand in India as well, but because of their high prices, they do not sell as many units overall.

India's share of the global smartwatch market increased to 30% in the July-September quarter of 2022, surpassing North America's 25% share and China's 16% share, according to research firm Counterpoint. In the same quarter last year, India came in third with a 14% share, trailing China's 22%, while North America held the biggest share of 27%.

Brands like Noise, which dominates the smartwatch market, and Fire-Boltt have seen the most volume growth in India.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.