04 Mar 2021

India Wearables Market Sees Triple-digit Growth in 2020, Driven by Record Shipments of Hearables and Watches, According to IDC

NEW DELHI, March 4, 2021 – The India wearables market posted a remarkable 144.3% year-over-year (YoY) growth in 2020, exiting 2020 with 36.4 million unit shipments, according to the recent data from the International Data Corporation’s (IDC) Wo rldwide Quarterly Wearable Device Tracker. India was the only country in the top 20 to see triple-digit growth in wearables in 2020 and continues to be the third-largest wearables market globally. This growth was majorly driven by the increasing acceptance of earwear devices and upgrades to watches from wrist bands, both recording their highest annual shipments in 2020.

Earwear device shipments grew more than threefold in 2020 compared to the previous year, mainly driven by the affordable launches, and expanding use cases beyond entertainment like virtual meetings and e-learning requirements. Truly Wireless Stereo (TWS) devices were the top gainer seeing a tenfold increase with shipments totaling 11.3 million units in 2020.

“Hearables became one of the most sought-after electronic categories in 2020. The newer version of hearables are much better in managing the increased audio usages and improved aesthetic and design also made them the trendsetter,” says Anisha Dumbre, Market Analyst, IDC India. She further adds, “TWS category saw the much-needed price corrections with several vendors launching devices at more affordable price points leading to the drop in the average selling price of TWS to $45 in 2020 from $110 in 2019.”

4Q20 (Oct-Dec 2020) recorded the biggest quarter for wearables in India, maintaining triple-digit growth. Overall, vendors shipped 15.2 million units in 4Q20, growing 198.2% YoY. This was the first quarter when shipments of watches crossed the one million mark as vendors shipped 1.3 million units during the quarter. Noise’s Colorfit pro-2, Realme watch, Apple’s watch series 6, and new launches from Amazfit provided this strong growth for watches in 4Q20.

Product Category Highlights: 2020

Wristbands declined by 34.3% YoY in 2020 since peaking in 2019 as the year ended with 3.3-million-unit shipments. After the introduction of wrist bands into the Indian market, 2020 has been the first year when the category reported a decline. The increasing popularity of watches at similar price points to that of wristbands is the main factor of the decline of wristbands. With 46.7% of the share, Xiaomi continued to lead the category in 2020. Realme, which entered the segment in 2020 finished second with a 12.3% category share.

Watches grew significantly as demand for wrist bands declined during the year. Watches saw a 139.3% YoY growth with 2.6-million- unit shipments in 2020. Noise led the watch category with a 24.5% share in 2020 followed by Realme with a 15.7% share in the year. Smartwatches, which can run third-party applications on the device itself, accounted for a 24.5% share in the watch category, and Apple continues to lead the smartwatch category with a 51.0% share in 2020.

The Earwear category accounted for 83.6% of the overall wearable market share to hit 30.4 million unit shipments in 2020. BoAt emerged as the biggest player in the category, accounting for one-third of the category shipments. Samsung with its portfolio including JBL, Harman Kardon, Infinity finished second with a 14.5% share in 2020. BoAt also led the TWS segment with a 24.6% share, followed by Realme with a 13.5% share in 2020.

India Wearables market, Product Categories, Market Share, Year-over-Year Growth 2020 (Shipments are in thousands of units)

Product Category

2020 Shipments

2020 Market Share

2019 Shipments

2019 Market Share

Year-over-Year unit change (2020 vs 2019)

1. Earwear

30,405

83.6%

8,484

57.0%

258.4%

2. Wrist Band

3,343

9.2%

5,086

34.1%

-34.3%

3. Watch

2,640

7.3%

1,103

7.4%

139.3%

4. Other

0

0.0%

223

1.5%

-89.8%

Total

36,388

100%

14,896

100%

144.3%

Source: IDC Worldwide Quarterly Wearable Device Tracker, March 2021



India Wearables market, Product Categories, Market Share, Year-over-Year Growth 4Q20 (Shipments are in thousands of units)

Product Category

4Q20 Shipments

4Q20 Market Share

4Q19 Shipments

4Q19 Market Share

Year-over-Year unit change (4Q20 vs 4Q19)

1. Earwear

12,977

85.4%

3,234

63.5%

301.3%

2. Wrist Band

882

5.8%

1,445

28.4%

-39.0%

3. Watch

1,333

8.8%

350

6.9%

280.7%

4. Other

0

0.0%

65

1.3%

0.0%

Total

15,192

100%

5,094

100%

198.2%

Source: IDC Worldwide Quarterly Wearable Device Tracker, March 2021

Commenting on the outlook of the Indian wearables market, Jaipal Singh, Associate Research Manager, Client Devices, IDC India said, “2020 was a year of transition in the audio segment from wired to wireless devices. In 2021, this category will further migrate to more sophisticated devices with enhanced audio experience being the central theme for all vendors,”. He further notes,” The high cost associated with wearable watches is not much of a challenge anymore. Also, the watch form factor is now seen as more appealing to the consumers, and vendors will leverage this shift by further expanding their watches portfolio in coming quarters”.

Note -  

In IDC's definition, for an ear-worn device to be considered wearable under the earwear or hearables category, it must offer functionality beyond audio, like a smart assistant, health and fitness tracking, audio experience enhancement, or language translation.

Wearable devices that are in the form of a watch and capable of processing the data digitally are considered in the watch category and it excludes the traditional analog and digital watches.

-Ends-

For more information about IDC's tracker products and research services, please contact Shivani Anand at sanand@idc.com . You can also follow IDC India’s Twitter and LinkedIn pages for regular updates.

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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC   and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.

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Coverage

Regions Covered

India


Topics Covered

Wearables