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Tuesday, January 19, 2021

India wearables market grows 165.1% YoY in Q3 2020: IDC

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NEW DELHI: The Indian wearable market showed significant growth this year. As reported by IDC, the Indian wearable market posted a record quarter with 11.8 million units shipped in 3Q20 (July-September 2020) at an impressive 165.1% year-over-year (YoY) growth, marking the highest quarter shipments to date.
As per IDC the wearable market consists of wristbands, watches and eyewear. The increased demand for wireless devices supported the earwear category to hit its all-time high shipments in the country, witnessing a 260.5% YoY growth in 3Q20.
BoAt with multiple launches during the quarter, led the category with a 32.4% share, followed by Samsung that includes devices from Samsung, Infinity, Harman Kardon, and JBL with a 15.0% share. BoAt also led the overall TWS category with a 26.1% share, followed by Realme who expanded the truly wireless portfolio and secured the second position with a 15.5% market share in the TWS category.
The wristbands showed a growth of 83.3% quarter-over-quarter in 3Q20, seeing a sequential decline in the first half of the year. However, it declined by 20.3% YoY as users started upgrading to watches. Xiaomi maintained its lead, accounting for more than half of the category shipments with a 52.4% share in the quarter.
Lastly, watches grew by 119.9% YoY in 3Q20 with 778 thousand units shipped in the country, making it the biggest quarter since the launch of the category in India. Homegrown Indian lifestyle technology brand, Noise led the segment with a 28.5% category share in 3Q20. Realme replaced Huami for the second position with a 24.2% share of the category.

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