Indian wearables market grows significantly in 2020
The Indian wearables market grew significantly in 2020, driven by a move to upgrade from wrist bands to watches and the products becoming appealing to a wider demographic.
India’s wearables segment has cemented its place as third largest in the world and was the only country in the top 20 for wearables to see triple-digit growth in the market in 2020, research firm IDC announced in a report, accessed by the Press Trust of India. Growth was measured at 144.3% year-on-year for wearables in 2020, according to IDC.
“This growth was majorly driven by the increasing acceptance of earwear devices and upgrades to watches from wrist bands, both recording their highest annual shipments in 2020,” said IDC, the Press Trust of India reported.
The most successful financial quarter for wearables was from October to December 2020, when retailers shifted 15.2 million units representing 198.2% year-on-year growth. The high price associated with wearables is also becoming less of a barrier to sales.
“2020 was a year of transition in the audio segment from wired to wireless devices,” said IDC’s India associate research manager for client devices Jaipal Singh. “In 2021, this category will further migrate to more sophisticated devices with enhanced audio experience being the central theme for all vendors.”
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