India wearables market logs 23.8 million units shipment in Q3: IDC

Business Standard India wearables market logs 23.8 million units shipment in Q3: IDC

India's wearable market grew 93.8 per cent year-on-year (YoY) in the July-September 2021 quarter, shipping 23.8 million units, as per data from IDC India.

Despite the logistic challenges and increase in freight costs, vendors remained aggressive in their shipments and were able to manage the inventory for the upcoming month-long festival sales, IDC said.

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, it added.

Watches continued to be the fastest-growing category with 4.3 million shipments in the third quarter, while wristbands saw a seventh consecutive quarter of annual decline to 738,000 units, IDC said.

Truly Wireless (TWS or earbuds) devices reached a 39.5 per cent share of the earwear segment (18.73 million units shipment) in the quarter under review, but the market remains dominated by over-the-ear and tethered devices, it added.

While seasonality made Q321 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," IDC India Market Analyst (Client Devices) Anisha Dumbre said.

Aggressive intent to maintain their lead helped them to further reduce the average selling price of watches to USD 73, putting immense pressure on a struggling wrist band category, she added.

IDC said India-based brands have captured over two-thirds of the watch market with their aggressive offerings and marketing spends on digital platforms.

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