According to the International Data Corporation (IDC) report on Wednesday, The India market for wearable devices increased around 30.9 percent Quarter-over-Quarter (QoQ) in the second quarter of 2019 and 123.6 percent when compared to the same quarter in last year, so reaching an all-time high of 3 million shipments in a single quarter.
This has further fixed India’s position as the third-largest wearables market in the world after China and the US, the IDC’s Worldwide Quarterly Wearable Device Tracker reported.
Anisha Dumbre who is working as Market Analyst in IDC India mentioned that “The market for ear-worn devices has seen exponential growth in the last few quarters and this will continue in the coming quarters as well, primarily because traditional audio vendors are moving towards the wireless devices as it provides the ease of operation and comfort of carrying a device, while participating in a fitness activity or taking a call on the go,”.
According to the market research firm, the increase of the wearable devices can be attributed to the rising popularity of the ear-worn wearables which grew 122.7 percent QoQ and 374.9 percent annually in Q2 overtaking the wrist band shipments for the first time in the country.
These earwear devices which include wireless earphones can track health and fitness or enable smart assistants at the touch of a button or through hot-word detection.
followed by wrist bands at 35.2 percent and watches at 6.9 percent, the earwear category accounted for most of the market shipments with 55.9 percent share.
Dumbre also mentioned that “We are also seeing several smartphone brands launching ear-worn devices since it compliments their smartphone play and they can leverage their brand strength in this new category. Moreover, a set of new brands from India are entering the market to ride on the trend of true wireless devices at affordable prices, further helping in the growth of this category,”
After heavy shipments in the last quarter, wrist bands declined about 24 percent QoQ in 2Q19 as the top brands corrected their inventory.
However, shipments showed a 19.3 percent annual growth compared to the same quarter last year. As brands have launched more cheap options in the market to onboard a new segment of users, the average selling price of this category decreased 9.7 percent from the previous quarter to $26.
Watches witnessed a healthy 99.6 percent YoY and 42.9 percent QoQ growth in 2Q19 after a decline in the last quarter.
Jaipal Singh who is working as an Associate Research Manager, Client Devices in IDC India mentioned that “We are seeing a shift in lifestyle devices segment wherein consumers are adopting new kinds of devices to track their health and fitness that is reflecting in the uptake of the wearables segment. Brands continue to augment newer health tracking features and increasingly spending on marketing, and this is helping wearables to become one of the preferred choices amongst the fitness enthusiasts to support an active lifestyle,”.