Wearable Device Shipments in India Grew Over 80 Percent YoY in Q1 2023: Report

Smartwatch (inclusive of basic and advanced) continues to be the fastest-growing wearable category with 10.4 million shipments.

By ANI | Updated: 10 May 2023 18:21 IST

Wearable Device Shipments in India Grew Over 80 Percent YoY in Q1 2023: Report

Photo Credit: Samsung

Smartwatch continues to be the fastest-growing wearable category in the country

Highlights

In 2023, the smartwatch market is expected to cross 50 million units
It was 30.7 million in 2022
Smartwatch market has witnessed a growth of 178.9 per cent year-on-year

Over 25 million wearable units were shipped in India in January-March 2023 quarter, registering a strong 80.9 percent year-on-year growth, according to the International Data Corporation's (IDC) India Monthly Wearable Device Tracker. However, data showed shipments remained flat quarter-on-quarter following a strong October-December 2022 quarter.

Smartwatch (inclusive of basic and advanced) continues to be the fastest-growing wearable category with 10.4 million shipments, a growth of 178.9 percent year-on-year.

"Improved supplies, leaner inventory, multiple new launches, and faster portfolio refresh are the key reasons for this healthy growth," International Data Corporation.

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Additionally, several India-based small players further intensified the competition, and lowering the overall average selling prices also supported sales and shipments, it said.

"Moving beyond audio capabilities by incorporating health-tracking technology will be essential for sustained growth," said Vikas Sharma, Senior Market Analyst, Wearable Devices, IDC India.

International Data Corporation (IDC) is a global market intelligence and advisory services provider.

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"Brands are bringing a variety of smartwatch models with metal straps/casing, circular dials, rugged finish, and premium designs. Clubbed with advanced communication features like LTE, digital payment options, and more accurate sensors/algorithms, brands are attracting new smartwatch consumers as well as fueling refresh buying," said Upasana Joshi, Research Manager, Client Devices, IDC India.

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In 2023, Joshi said the smartwatch market will cross 50 million units, up from 30.7 million in 2022.

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