Compared to the growth of the smartphone market, the accompanying wearables market has seen significantly more growth. In the third quarter of 2020 alone, the Indian wearables market has shipped a total of 11.8 million units, which calculates to a YoY growth of 165.1%.
The wearable market, according to the IDC, consist of wristbands, watches and earwear. Starting with wristbands, the category witnessed a decline of 20.3% YoY, largely due to the consumers upgrading to smartwatches. The smartwatch segment saw a growth of 119.9% YoY in 3Q20, shipping nearly 778 thousand units.
And finally, the segment which saw the biggest growth of 260.5% YoY in Q3 2020 was earwear, which includes TWS earphones. boAt led the segment with a market share of 32.4%, followed Samsung and its sub-brands, and then realme.
Commenting on the report, Anisha Dumbre, Market Analyst, Client Devices, IDC India said:
The pandemic has created a new norm of learning and working from home. Virtual meetings, online classes, and increased time spent on entertainment have led to an intensified demand for earwear devices. Vendors are capitalizing on this rising trend, addressing the growing consumer demand and launching affordable devices, making the overall earwear category more accessible.