India's wearables market shipped 11.4 million units in 1Q21, up 170.3% on-year: IDC

According to the International Data Corporation’s (IDC) Worldwide Quarterly Wearable Device Tracker report, wearables market (earwear, wristband, and watch) in India increased by 170.3% YoY in the first quarter of 2021, driven by strong demand among users in the country. The market recorded a shipment of 11.4 million units in the first quarter of 2021.

In terms of wearables market category, the watches segment increased by 463.8% YoY in the first quarter of 2021, driven by strong demand. The market recorded the highest ever first-quarter wearables shipments in India and the fastest-growing segment in wearables. This was followed by wristwear wearables segment (wristbands and watches), which increased by 74.8% YoY.

In the first quarter of 2021, the earwear category registered an increase of 209.3% YoY at 9.3 million shipments. Ms. Anisha Dumbre, Market Analyst, IDC India, said, “The earwear category indicates strong demand due to the current consumer interest for earwear devices. Vendors are aiming to benefit from the low and mid-priced devices. To tap to new users, vendors also plan to add improved features in the wearables.”

Wristbands registered shipments of 760,000 units, led by Xiaomi, and followed by OnePlus, (a new entrant in the category).

The first quarter of 2021 registered shipments 1.4 million watches. The market was dominated by Noise followed by boAt.

In the watches category, the average selling price (ASP) stood at US$ 88 in the first quarter of 2021, due to the demand for low-cost and affordable devices among users.

The earwear category was led by boat, followed by OnePlus. In the overall earwear category, the Truly Wireless Stereo (TWS) segment increased by 284.4% YoY with a 35.0% share to the earwear market. It was led by boAt, followed by OnePlus, primarily backed by OnePlus Buds Z.

Mr. Jaipal Singh, Associate Research Manager, Client Devices, IDC India, said, “Over last year, the wearables value has rapidly expanded, and the demand for the devices is expected to further increase significantly in 2021.”

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