Another Record Quarter For Wearables

Homegrown brands emerged as winner again, even as the India market logged 23.8 million units shipment in Q3, finds a study

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The wearable market in India grew by 93.8% year-over-year (YoY) in 3Q21 (July-Sept), shipping 23.8 million units, according to the recent data from the International data corporation’s (IDC) India monthly Wearable device Tracker. Despite the logistic challenges and increase in freight costs, vendors remained aggressive in their shipments and were able to manage the inventory for the upcoming month-long festival sales. Shipments in September surpassed 10 million, growing two-fold from the same month last year, resulting in a record quarter for wearable devices in India.

Watches continue to be the fastest-growing category with 4.3 million shipments in 3Q21, while wristbands saw a seventh consecutive quarter of annual decline. Overall wristwear (inclusive of watches and wristbands) crossed the 5 million shipments mark in a single quarter, further reinforcing the acceptance of watches in the country. Truly Wireless (TWS) devices reached a 39.5% share of earwear in 3Q21, but the market remains dominated by over-the-ear and tethered devices.