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India’s wearables market, which incorporates earwear units, wrist bands and smartwatches, noticed a record quarter as shipments hit 11.8 million within the third quarter of 2020 (June to September), in keeping with the most recent report by International Data Corporation (IDC). The phase had a formidable 165.1% year-over-year (YoY) development, and the quarter additionally noticed the best shipments to this point, notes the analysis agency.
According to IDC, the sturdy demand for earwear units and watches propelled this development. Further wearable units have turn out to be extra inexpensive with the typical promoting worth of watches coming right down to $111 within the third quarter of 2020. This has allowed extra customers to leap from easy wristbands, that are sometimes extra inexpensive to watches.
Similarly, the typical worth of true wi-fi stereo (TWS) earphones has dropped by 48.6 % within the quarter. It stood at $57 or Rs 4200. IDC says that TWS now contributes to 39.7 % of the general earwear class as near 4 million TWS units have been shipped with the class seeing four-digit annual development of 1156.3% in third quarter.
“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”, Anisha Dumbre, Market Analyst, Client Devices, IDC India mentioned in a press assertion.
Read extra: Five finest TWS earphones you should buy for below Rs 5000
Wristbands, Watches
Wristbands grew 83.Three % quarter-over-quarter (QoQ) in 3Q20 after seeing a sequential decline within the first half of the yr. However, the class declined by 20.Three % as customers began upgrading to watches. Xiaomi maintained its lead, accounting for greater than half of the class shipments with a 52.4 % share within the quarter. Realme stood second with a 14.6 % share within the class.
Watches grew by 119.9 % YoY in 3Q20 with 7,78,000 models shipped within the nation, making it the largest quarter for the reason that launch of the class in India. Indian-brand Noise led the phase with a 28.5 % class share, adopted by Realme, which had 24.2 % share within the phase. “The pandemic has reinforced the importance of fitness in our life. The motivation of staying fit and leading a healthy lifestyle is now forcing users to upgrade to more sophisticated wearable devices with greater expectations around improved health tracking,”Jaipal Singh , Associate Research Manager, Client Devices, IDC India commented.
Earwear
Increased demand for wi-fi units supported the earwear class which noticed 260.5 % YoY development. The chief in class was BoAt with a number of launches throughout the quarter with a 32.4 % share, adopted by Samsung that features units from Samsung, Infinity, Harman Kardon, and JBL with a 15.zero % share. BoAt additionally led the general TWS class with a 26.1 % share, adopted by Realme, which secured the second place with a 15.5 % market share. Another report from Counterpoint Research additionally positioned boAt because the chief within the class, adopted by Xiaomi and Realme.
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