Indian Smartwatch Market Is Bigger Than Ever With Homegrown Brands At The Helm

The Indian smartwatch market saw its strongest year-on-year (YoY) growth in 2021, a report from International Data Council (IDC) has said. A separate report has said that in Q4 2021, India recorded the biggest quarter for smartwatches. Homegrown company Noise remained the market leader and Fire-Boltt managed to over-take Amazfit in the wearables market. In India, neither Apple nor Samsung were in the top 5 smartwatch companies in 2021, and the top 5 spot was dominated by brands like Noise, Boat, Realme, Amazfit, and more.

According to IDC, the smartwatch market in India grew by 364.1 percent in 2021 with 12.2 million shipments as compared to 2.63 million in 2020. In the fourth quarter, the smartwatch vendors shipped 4.9 million units, resulting in a 271.2 percent YoY growth in Q4 2021. IDC said that this was the biggest-ever quarter for wearables in India. Apart from this, Indian brands also doubled their share and now account for three-fourth of the smartwatch market, the IDC report said.

Noise remained the leader of the smartwatch market in India with a 27 percent share throughout 2021. The brand saw a growth of 410.2 percent annually and this was the seventh straight quarter where the brand remained a market leader in India.

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Boat, another homegrown brand took the second position with 25.1 percent market share. Fire-Boltt came as the third-largest company in the Indian market with an 11.6 percent market share. These three were followed by Realme and Amazfit ? both brands with China-based origins.

?The Indian watch market is thriving with a sharp increase in adoption due to increasing awareness around health and fitness,? Anisha Dumbre,? Market Analyst, Client Services at IDC India said. She further said that the competition at entry-level price points is what helped bring the selling price of smartwatches down in India.

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