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The earwear category accounted for 71.3 per cent of the overall wearables category; the truly wireless stereo (TWS) share grew to 48.3 per cent from 34.2 per cent in 1Q21, with a growth of 48.2 per cent YoY
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The India wearables market shipped 13.9 million units in 1Q22, up 20.1 per cent YoY (year-over-year) according to the recent data from the International Data Corporation’s (IDC) India Monthly Wearable Device Tracker.
This growth can be attributed to new launches, discounts across channels, and aggressive marketing by brands. The ASP of the overall category declined 17.1 per cent YoY primarily due to a stronger decline in the ASP of watches.
Watches continued to be the fastest-growing category shipping 3.7 million units with a growth of 173.0 per cent YoY in 1Q22 (Jan-Mar). Basic watches accounted for 95.1 per cent of the overall watch category shipments.
Furthermore, the ASP of the watches declined 41.5 per cent YoY to reach USD 50.3 in 1Q22 compared to USD 86.0 in the same quarter last year. On the other hand, Wrist bands continued to decline annually for the 9th consecutive quarter. Overall wristwear (which includes watches and wrist bands) grew 87.5 per cent yearly in 1Q22, with a total shipment of 4.0 million units.
The earwear category accounted for 71.3 per cent of the overall wearables category; the truly wireless stereo (TWS) share grew to 48.3 per cent from 34.2 per cent in 1Q21, with a growth of 48.2 per cent YoY.
“Aggressive discounts, new features, and a strong push from brands and channel partners are encouraging consumers to upgrade and spend more on wearable watches. While dependence on devices like TWS and wearable watches is increasing, supply remains a concern for the industry. Intense competition in the sub USD 50 category is pushing all brands to offer competitive offerings in terms of pricing, features, and device design,” says Anisha Dumbre, Senior Market Analyst, Client Devices, IDC India.