The Indian smart wearables market has grown rapidly in the first half of 2023. According to the latest numbers from IDC, the sector has seen a 53% year-on-year increase in sales.
More than 57.8 million smart wearables were shipped in H1 2023 with smartwatches making a big leap in popularity, accounting for 40% of the total share, up from 26.8% a year ago.
Let’s look at the second quarter numbers. A total of 32.8 million wearables shipped in the second quarter, a 37.2% year-over-year growth and 30.6% growth over the first quarter. Smartwatch shipments nearly doubled from 6.4 million in Q2 2022 to just under 12.8 million in Q2 2023. Earphones also saw a 15% year-over-year increase to nearly 20 million of units shipped.
Breaking it down into brands, boAT led the wearables space in India with 26.6%, an annual growth of 6.5%. 77% of its share came from headphones – its truly wireless offerings lead competitors in market share with 35.3%. boAT has also made an affordable Smart Ring.
Noise was second with 13.5% market share. It has grown an impressive 61.6% since last year. Oppo and OnePlus held third place with 9.5% of the market. Bullet Wireless Z2 and TW Nord Buds 2 account for 75% of all shipments.
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