Smartwatches, wireless headphones, and AI devices such as smartspeakers and others are a trend all over the world right now. Demand for wearables, including smartphones, is growing exponentially high.
In the case of India, the wearable market grew by 144.3 percent in 2020 compared to 2019, according to research firm IDC.
India set a new record by triple-digit growth in the top 20 markets worldwide.
Last year, 3.64 crore units of wearables were sold across the country. India continues to rank third in terms of sales of wearable technologies internationally.
Wireless headphones
The reason for this level of sales is the increase in the wearble technology is the use of earwear devices and the shift of customers from wristbands to smartwatches.
These two wearables segments achieved record sales in 2020 for the first time in the country. The October-December quarter saw the highest sales of 1.52 crore units so far.
This is an increase of 198.2 percent over the same period last year. The obvious change in 2020 is the shift in the audio segment from wired to wireless, more and more people shifted from the traditional wired headphones to wireless earbuds and bands.
Advanced devices that make you feel better in this segment will be ahead of customers in 2021.
The share of headphones in the wearables sector is the highest at 83.6%.
Earwear sales have tripled to 3.04 crore units last year. A retail company had sold 1.29 crore units in the December quarter, up 300 percent sales.
The owner of a retail mobile chain said the segment is booming with affordable availability, entertainment as well as virtual meetings and online classes.
Truly Wireless Stereo Devices alone sold 1.13 crore units. As competition intensifies many companies are introducing at an affordable price. Their average price was Rs 8,000 in 2019, dropped down to Rs 3,200 last year.
Smart Bands
Last year, 26 lakh units of smartwatches were sold in the country. This is an increase of 139.3 percent compared to 2019.
Half of the sales took place in the period of October-December alone. This is the first time it has crossed 10 lakh units in a single quarter.
The popularity of wristbands is steadily declining as smartwatches are now becoming available at lower prices.
Wristbands sold 33 lakh units in 2019, down 34.3 percent last year.
In the early days, smartwatches were priced at Rs 20,000. Now it is available for less than Rs 5,000 in various popular brands which makes it affordable.
And the additional added new features are also increasing the popularity and attracting more and more people to switch from regular watches to smartwatch.
The market for the wearables is booming and is expected to sore higher in the coming year.
