India Smartwatch Market Records 274% Growth In 2021; Noise, ship sinkers: Counterpoint

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India’s smartwatch market saw 274 percent growth in 2021, with Noise leading the market with a 27 percent share, followed by boAt with a 26 percent share, according to new research from Counterpoint. According to research, four of the top 10 models in 2021 were from Noise. The ColorFit Pro 2 remained the brand’s most popular smartwatch. While boAt launched more than 10 models. His Storm was the best-selling smartwatch in 2021.

Fire Bolt was quick to capture the third position with more than 20 models in all price bands. Realme came in at number four with 23% year-on-year growth in 2021 fueled by strong online partnerships. The Watch S contributed around 30 percent of its total sales.

Amazfit posted 65 percent growth and captured the fifth position in the smartwatch market. It led the market in the price band of Rs 10,000 to Rs 15,000 with more than a third of the total shipments. The brand updated its portfolio with the launch of three new devices: GTR 3, GTR 3 Pro and GTS 3.

Samsung it grew more than double, fueled by its most popular model, the Galaxy Watch Active 2. It’s worth noting that the new Galaxy Watch 4 series contributed more than 16 percent of its total shipments. Meanwhile, Apple it was flat with Watch SE contributing around 44 percent of its total volume. The revamped Series 7 lineup is off to a great start with shipments crossing 100,000 units in Q4 2021.

Additionally, Dizo’s successful launches in the budget segment managed to capture a position in the top 10 list. The Watch 2 model drove most of its volume.

“More than 86 per cent of total shipments were driven by the sub-Rs 5,000 price band, compared to 59 per cent a year earlier. Many of the features that were previously present on Rs 3,000 to Rs 5,000 smartwatches are now found in the Rs 2,000 to Rs 3,000 segment, such as SPO2, blood pressure monitoring, voice assistance, and a larger screen. Even features that were once prominent in premium smartwatches, such as ECG and Bluetooth calling, can be seen in smartwatches priced below Rs 5,000,” said Anshika Jain, Senior Research Analyst at Counterpoint.

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