Last updated on September 4, 2019
The India marketplace for wearable apparatus climbed 30.9percent Quarter-over-Quarter (QoQ) in the next quarter of 2019 and 123.6percent when compared to the same quarter one year ago, consequently, attaining an all-time large of 3 million imports in one quarter, a report from the International Data Corporation (IDC) said on Wednesday.
“The marketplace for ear-worn apparatus has witnessed exponential growth in the past couple of quarters and this can continue in the coming quarters also, primarily because conventional audio sellers are moving towards the wireless apparatus as it provides the ease of functionality and comfort of transporting out a device, while engaging in an exercise activity or taking a telephone on the move,” Anisha Dumbre, Market Analyst, IDC India, said in a statement.
According to the industry research company, the increase of this wearables could be attributed to the increasing popularity of this ear-worn wearables that climbed 122.7percent QoQ and 374.9percent yearly in Q2 overtaking the wrist ring shipments for the first time in the nation.
The earwear category incorporates wireless earphones that monitor fitness and health or empower wise assistants in the touch of a button through hot-word detection.
This group accounted for the majority of the marketplace imports with 55.9percent share, followed closely by wrist rings at 35.2percent and watches at 6.9%.
“We’re seeing several smartphone manufacturers starting ear-worn devices because it compliments their smartphone play and they could leverage their new power in this new class. Furthermore, a pair of fresh manufacturers from India are going into the marketplace to ride the tendency of authentic wireless devices at inexpensive rates, further assisting in the development of this class,” Dumbre added.
Wrist bands have seen a 24 percent QoQ decrease in 2Q19 since the top brands fixed their stock following heavy shipments in the past quarter.
But, shipments found a 19.3% yearly increase in comparison to the same quarter this past year. The average selling price of the group declined 9.7% in the preceding quarter to $26 as manufacturers have launched cheaper options from the marketplace to onboard a new section of consumers.
Following a decrease in the past quarter, watches saw that a healthful 99.6percent YoY and 42.9percent QoQ increase in 2019.
Fossil made a recurrence after fighting with inventory difficulties and became the major wearable watch manufacturer with a 34 percent category discuss.
“We’re seeing a change in lifestyle devices section wherein customers are embracing new sort of apparatus to monitor their health and fitness that’s reflecting from the uptake of their wearables segment.