HIGHLIGHTS
- Indian wearable market is one of the largest wearable markets worldwide.
- In the year 2024, the shipments have gone down by a whopping 29.4%.
- The overall market has fallen down by 11.3%.
Indian wearables market stats for 2024 have been released. As per the report released by IDC, the overall market has declined by 11.3 percent. The market includes a slew of tech products such as smartwatches, TWS earbuds, smart rings and smart glasses. OEMs (Original Equipment Manufacturers) of these devices have shipped 119 million units combined.
Indian wearable market fell by 11.3-percent but boAt remains at the top
The overall smartwatch market in India has fallen by 29.4 percent in the year 2024. In the year 2023, the OEMS shipped a total of 53.3 million units, however, in 2024, the OEMs shipped just 35 million units.
Not only the shipments are affected, but the average selling price of the smartwatch has also declined. In 2023, the average selling price was Rs 2,241 while in 2024, it declined to Rs 2,041. Noise, another homegrown brand, topped the smartwatch category. The brand’s market share increased to 25.2% from 22.1%.
The earbuds category, surprisingly, grew by 3.8%. boAt was again a top brand in terms of market share here. Boult was at second, followed by Noise and then OPPO (including OnePlus).
