Wearable tech was at its highest in the third quarter of this year, according to an IDC report. The Indian wearables market posted a record quarter with 11.8 million units shipped in the third quarter at a 156 percent year-on-year growth, marking the highest quarter shipments to date, according to the International Data Corporations’ (IDC) Worldwide Quarterly Wearable Device Tracker report. The report says that strong demand for earwear devices and watches propelled the growth as both the categories recorded their biggest quarter shipments in India.
The IDC report says that in the last few quarters, wearable devices have become more affordable and the average selling price of smartwatches has come down to $111 (roughly Rs 8,200) in the third quarter of 2020, as compared to the $175 average selling price in Q3 2019. This, IDC says, is driving consumers towards wearable devices. Further, IDC says that the prices for truly wireless earphones has also dropped by 48.6 percent to $57 (roughly Rs 3,600). The report also said that truly wireless earphones now contribute to 39.7 percent of the total earphone market. Close to 4 million TWS earphones were shipped during the third quarter of this year, recording a four-digit annual growth of 1156.3 percent in Q3 2020.
Wristbands shipments grew 83.3 percent quarter-over-quarter (QoQ) in Q3 2020 after seeing a decline in the first half of 2020. The total wristband shipments fell 20.3 percent year-on-year as users started to upgrade to smartwatches. Xiaomi was the leader in the fitness tracker market with a 52.4 percent share in the third quarter. Realme stood second with a 14.6 percent share. Smartwatches grew by 119.9 percent YoY in Q3 2020 with about 778,000 units shipped in India. Among homegrown Indian brands, 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. Further, the earwear category saw a 260.5 percent YoY growth in Q3 2020. Boat led the category with a 32.4 percent share, followed by Samsung, Infinity, Harman Kardon, and JBL with a 15 percent share. Boat also led the TWS category with a 26.1 percent share.
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