[Gadgets] Smartwatch Market in India Saw Strongest YoY Growth in 2021, Local Brands Beat Chinese Counterparts: Reports

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Smartwatch market in India marked its strongest year-on-year (YoY) growth in 2021, with the fourth quarter recorded as the biggest quarter for smartwatches, according to two research firms. Domestic brands continued to grow in the market and surpassed their Chinese counterparts. Gurugram-based Noise retained its leadership in the market and Fire-Boltt managed to outstrip Chinese player Amazfit. Overall shipments of smartwatches in the country grew by over 9.6 million units in the year.

International Data Corporation (IDC) reports that the watch market in India that comprises smartwatches as well as connected watches grew by 364.1 percent YoY in 2021 to 12.2 million units, up from 2.63 million units in 2020. In the fourth quarter, smartwatch vendors in the country shipped 4.9 million units, which resulted in a 271.2 percent YoY growth. The market research firm said that it was the biggest quarter for wearable watches in the country.

India-based brands doubled their share from the previous year and are now accounting for three-fourths of the overall wearable watch market, IDC said.

Noise led the market of wearable watches, with a 27 percent share in 2021 shipments. The brand grew 410.2 percent annually and also maintained its lead for the seventh quarter in a row in the fourth quarter, according to the data shared by the research firm.

The Noise Colorfit Pro 2, Colorfit Pro 3, and Pulse accounted for a 60.4 percent share of the brand's entire portfolio, IDC said.

After Noise, Boat took the second position with a 25.1 percent market share. Fire-Boltt emerged as the third biggest player in the wearable watch market in the country with an 11.6 percent market share in 2021. It was followed by Chinese contenders Realme and Amazfit.

https://gadgets.ndtv.com/wearables/news/smartwatch-market-shipments-india-2021-growth-noise-boat-fire-boltt-realme-amazfit-idc-counterpoint-2761189