Indian wearable market led by local brands boAt, Noise grows 56.4% y-o-y: Report

New Delhi: The Indian wearable market shipped 37.2 million units in Q3 2022, a gain of 56.4% from the previous quarter, according to a survey. boAt led the market. IDC reports that smartwatches, which include basic and advanced models, continue to be the fastest-growing category, with 12 million shipments in a single quarter, representing a growth of 178.8%. 

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Basic smartwatches are still market leaders, holding a 95.5% share that climbed by 187.1% annually in Q3. Wristband shipments fell for a fourth consecutive quarter, this time by 80.8% . The demand for smartwatches is expected to remain high across a variety of client sectors, thus improved specs and accurate monitoring will be essential. The affordable segment will feature larger screens (1.8/1.99 inches), AMOLED displays, physical or e-Sim connectivity, according to Vikas Sharma, Senior Market Analyst, Client Devices, IDC India.

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boAt continues to lead with a 32.1 per cent of market share in Q3 growing 19.5 per cent, according to the report. With a 13.8 per cent market share, Noise stood second. It cemented its smartwatch leadership with a 29.5 per cent share, growing 216.5 per cent annually.

Fire-Boltt climbed to third place with a healthy 395 per cent growth and 8.9 per cent share. OnePlus dropped to fourth place in the overall wearable category growing by 107.6 per cent and 8.2 per cent share, while Realme stood at fifth place and was the only vendor amongst the top 5, with declining shipments at -18.5 per cent in Q3, the report added.