Indian Wearable Market Increased 80% in Q1 2020

The latest report from the analysis firm IDC highlights the performance of wearables in the Indian market. The wearable market is gradually becoming a highly competitive segment with the entry of various major companies. The latest report shows the performance of these players in Q1 2020 in the Indian market. According to the report, wearable shipments in India in the first quarter of this year increased by 80% a year on a yearly basis.

Total wearables shipped in the Q1 2020 in India counts to the 4.2 million against the 2.3 million units in the same quarter of the last year. Wearable products in the category include the earbuds, wrist bands, and watches. This report comprehensively covers the performance of all the categories in the concerned period. When we go into the details of the products based on category, the earbuds dominate the market with the 3 million units shipments.

Indian Wearable Market

It is highly notable that the earbuds segment witnessed 289.2% year over year growth and 70.8% of total wearable shipments in Q1 2020. Wrist bands segment occupies the second position in the list with 1 million shipments. However, this segment seems the 28% fall in its year over year growth and captures the 24.2% market share against the last year’s 61%. The wrist bands lost their market share and the increase in the first quarter of this year.

The watch category is ranked in the third position in the list. Although it managed to ship only 200000 watches in the Q1 2020, it experienced 43.3% year over year growth. However, the watch category also lost the market share to 5% as compared to 6.3% of the Q1 2019. In the earphones segment, Samsung and Apple dominate the Indian market and the Xiaomi tops the wrist bands segment with near about 42% share. In the smartwatch segment, Huami tops the list with 22.4% market share and it is followed by Fossil and Apple with 17.9% and 17.7% respective market share.