Wearables segment in India grew 56.4% YoY in Q3: IDC
According to IDC's (International Data Corporation) India Monthly Wearable Device Tracker, the total shipments for the third quarter (Q3) of this year stood at 37.2 million units, up 56.4% from the 23.7 million units shipped in the same quarter in 2021. Smartwatches ranked as the fastest-growing category, with 178.8% YoY (year-over-year) growth thanks to over 12 million shipments in this quarter alone.
Fitness bands see another quarter of decline with 81% drop
Smartwatches recorded 178.8% YoY growth and led the market with a 95.5% share. But the average selling price declined by 30.3% YoY from Q3 2021 due to heavy discounts extended during the festival season. Earwear accounted for 67.3% of the overall wearables category. Fitness bands saw a decline of 80.8%. TWS earbuds dominated with 57.6% share driven by a strong growth of 94.4% YoY.
Boat smartwatches rose to the top this quarter
Top three leaders in the wearables market were Boat, Noise, and Fire-Boltt, with 32.1%, 13.8%, and 8.9% market share, respectively. Boat recorded 19.5% YoY growth. However, the market shares have dropped from 42% that it held in the same quarter in 2021. OnePlus took fourth place with 8.2% market share. Realme occupied the fifth spot with 4.2%.
Boat's smartwatches and TWS earbuds were bestsellers for the company
The Colorfit Caliber and Colorfit Icon Buzz smartwatches from Noise accounted for more than 30% of its overall shipments. Fire-Boltt held a 26.2% market share in the smartwatch category, and its growth was driven by Ninja Pro Max, Ninja Bell, and Ring 3 smartwatches. Airdopes 141 and Airdopes 131 were Boat's best-selling TWS headsets. Xtend and Wave Call topped its category of smartwatches.
Realme saw a decline from its previous quarter
Boat, Noise, and OnePlus are the top three TWS companies with 41.7%, 9.3%, and 6.8% market share, respectively. Mivi recorded a staggering growth of over 2,300% to grab a market share of 6.7%. Realme slid to the fifth position with 4.3% market share. In the TWS segment, Realme's demand has halved from Q3 of last year.
Samsung ranks fourth in the smartwatch space
Noise ranked first among smartwatch companies with 29.5% market share. It was closely followed by Fire-Boltt with 26.2% and Boat secured the third spot with 19.9%. Samsung and Pebble took the fourth and fifth spot with 2.8% and 1.9% market share, respectively. Fire-Boltt recorded 377.4% YoY growth, while Noise rose by 216.5% in comparison to Q3 2021. Samsung grew by 220.9% YoY.
