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Home » News » Indian Wearables Market Saw 170% YoY Growth in Q1 2021: IDC

By the end of last year, shipments of the wearable device industry in India had increased dramatically. Despite the drop in prices, the number of deliveries increased by 165. Similarly, the Indian portable device market continues to grow in the first quarter of 2021. For the quarter ending March 2021, total shipments reached 11.4 million units.

According to the International Data Corporation (IDC) report, the wearable device market in India has grown by 170.3% year on year. -First-quarter of 2021-The amazing increase in watch and hearing aid shipments has increased the country’s quarterly deliveries.

If we look at the different categories of wearable devices, we will find that the range of smart watches and hearing aids has greatly increased. On the other hand, as users gradually turned to affordable smart watches, the fitness wristband market shrank by 22.4%.

Xiaomi maintained its leading position with a market share of 37.3% in the first quarter of 2021, followed by OnePlus, which replaced Realme with a growth rate of 25.2% driven by the new OnePlus. In the first quarter of 2021, 1.4 million units were delivered, an increase of 463.8% compared to the same period last year. Among them, the Indian brand Noise ranked first with a share of 26.7%, while another Indian brand BoAt recently entered the field of smartwatches, ranking second with a share of 21.9%.

Thanks to the introduction of low-cost smartwatches, the price (ASP) of the smartwatch category has dropped from US$168 (approximately Rs 12,175) to US$88 (approximately Rs 6,677). The former increased by 209.3% year-on-year and shipped 9.3 million units this quarter. The market leader in this category is also BoAt’s 29. Followed by OnePlus, its market share in this category is 15.1%. The true wireless stereo (TWS) category grew by 284.4% year on year, and it grew by more than 35% in the traditional hearing aid category.

Under the new leadership of BoAt, with the help of OnePlus Buds Z, OnePlus can achieve an 11.9% market share because the company can occupy 25.6% of the market. The market will continue to see strong demand for smart devices. Year-round wearable goods.

However, the average selling price (ASP) of products will also continue to fall, which is good news for end-users, as manufacturers seek to take advantage of recent upward trends. They brought more affordable portable devices to the market.

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