Fueled by strong shipments from local earring and watch brands, the Indian market for connected goods (smartwatches, bracelets and earrings) grew 118,2% year-on-year in 2Q21 (April-June). It is a consequence of the good behavior of the previous quarter. The second wave of Covid-19 had a marginal impact as global wearable device shipments declined 1.3% sequentially in 2Q21. Overall, it shipped 11,2 million units, according to International Data Corporation (IDC) India's Monthly Wearable Device Tracker. Smartwatches remained the fastest growing category, with an 81,2% share in the wearable category, which includes watches and bracelets, up from 35,0% a year ago. The earring category also maintained its momentum, doubling its shipments in 2Q21 and remains the largest wearables category.
Noise, a leading player in the watchmaking segment
(Image credit: IDC) IDC said the watch form factor appears to be appealing to consumers, and Indian brands have been quick to capitalize on this trend and align their device portfolios. Among the top five brands, three places are occupied by Indian brands. Noise remains the top player in the overall watch category for five consecutive quarters with a 28,6% share in 2Q21 and closely followed by BoAt with a 26,9% share. Fire-boltt, another local brand, came in fourth with only three quarters of the initial trades in this category. For the record, Huami and Realme are respectively in the 3rd and 5th position. However, Xiaomi maintains its formidable lead in the bracelet category with a 38,9% share, followed by Oneplus and Titan with a 21,7% and 21,3% share respectively. “Affordability has been key for Indian brands, and these brands have been highly successful in capturing a significant share of the watch market with competitive pricing, aggressive marketing, and faster adoption of new features,” says Anisha Dumbre, Market Analyst. , client devices. , IDC India. “This new generation of local brands are digitally native, aware of their limitations and selectively targeting the gaps. However, they have to be careful with China-based brands, which in the future will be aggressive in introducing more sub-brands and taking advantage of the ecosystem,” Dumbre added.
BoAt leads the earrings segment
(Image credit: IDC) The earring category grew 113,1% year-over-year in 2Q21, shipping 9,2 million units. BoAt's aggressive shipping and diverse portfolio helped it earn a commanding 45,5% share in 2Q21. It also leads the TWS category with a 39,6% share in the quarter. OnePlus finished in second place with a category share of 8.5% in the second quarter of this year. Even in the earrings category, local brands have a strong dominance as their share reached 71,5% in 2Q21 compared to only 31,2% in 2Q20. Ptron, Zebronics, Noise, Portronics, Boult Audio and Truke were some of the top leading brands that have maintained the dominance of local brands in this category.