Truly Wireless (TWS) devices reached a 39.5 per cent share of earwear in 3Q21, but the market remains dominated by over-the-ear and tethered devices
India’s wearables market grew by 93.8 per cent year-over-year in the July-September quarter of 2021, shipping 23.8 million units, according to a recent report by IDC.
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.
As per the report, watches continue to be the fastest-growing category with 4.3 million shipments in 3Q21, while wristbands saw a seventh consecutive quarter of annual decline. Overall wristwear crossed the 5 million shipments mark in a single quarter, further reinforcing the acceptance of watches in the country.
Truly Wireless (TWS) devices reached a 39.5 per cent share of earwear in 3Q21, but the market remains dominated by over-the-ear and tethered devices.
Furthermore, India-based brands have captured over two-thirds of the watch market with their aggressive offerings and marketing spends on digital platforms.
Noise maintained its lead for the sixth straight quarter with a 26 percent market share in 3Q21, followed by BoAt with a 23.1 percent market share. Fire-Boltt replaced Huami for the third position as its share jumped to 15.3 percent in 3Q21 from 5.5 percent from a quarter before. Realme entered the fourth position backed by its newly launched watches, and Amazfit settled at the fifth position.
The earwear category that includes TWS, neckbands, and wireless over-the-ear headphones, clocked 18.7 million units with an impressive 77.9 percent YoY growth in 3Q21.
BoAt continued to lead the segment with a 48 percent share, recording 9 million units for the quarter. Realme replaced OnePlus for the second position, OnePlus moved to the third position, while Samsung settled at the fourth position.
Ptron retained its fifth position as its shipments grew 81.9 percent during the quarter. A total of 7.4 million TWS devices in the earwear category were shipped, growing 70.5 percent YoY in 3Q21. As players continued to target entry-level price points, 86.4 percent of the TWS devices now fall under $50. BoAt also led the TWS category with a 37.3 percent share in the 3Q21.
Commenting on the growth in the watch segment, Anisha Dumbre, Market Analyst, Client Devices, IDC India, said, “While seasonality made 3Q21 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. Aggressive intent to maintain their lead helped them to further reduce the average selling price of watches to $73, putting immense pressure on a struggling wrist band category.
