India wearables market grew 170.3% YoY in Q1 2021: IDC

India’s wearables market rose 170.3% year-over-year (YoY) in the primary quarter of the year, based on the newest knowledge from the IDC Worldwide Quarterly Wearable Device Tracker. India noticed a cargo of 11.4 million items through the interval, the report added.

According to IDC, watch and earwear classes recorded the very best ever first-quarter shipments in India. Watches rose 463.8% YoY in Q1 2021 to emerge because the fastest-growing wearable class. Earwear additionally noticed a triple-digit progress through the interval. The total wristwear class, inclusive of wrist bands and watches, rose 74.8% YoY in the primary quarter.

Despite progress in a couple of classes, shipments for total wearables declined by 24.9% sequentially in Q1 2021, primarily attributable to a drop in earwear shipments. The class recorded a decline of 28.6% QoQ in Q1 2021. The hunch comes after reporting progress in three quarters in a row. IDC says the dip is attributed to the leftover stock with channel companions because it restricted the contemporary purchases in this quarter.

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Category-wise highlights

According to IDC, the wristbands class declined by 22.4% YoY in Q1, recording 760,000 items of shipments.

The Q1 noticed a complete of 1.4 million items shipments for watches. Noise led the class with a 26.7% share, adopted by BoAt with a 21.9% share.

IDC Quarterly Wearable Device Tracker, May 2021 (IDC)

The Truly Wireless Stereo (TWS) class grew 284.4% YoY with a 35.0% share in the general earwear class. The ASP of the TWS units additional declined by 39.4% YoY in 1Q21. BoAt additionally led this class with a 25.6% share.

“From style to health monitoring, the wearables have now become one of the most sophisticated devices in recent times. The category is witnessing a constant shift in the competitive landscape with new players entering the segment, Jaipal Singh, Associate Research Manager, Client Devices, IDC India, said in a release.

Singh adds, “The second wave of the pandemic has caused a sudden stir across vendors and channel partners, impacting the planned launches to postpone and delay in deliveries. However, over last year, the value of wearables has rapidly expanded, and hence, the demand for these devices is expected to continue strong in 2021.”

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