Noise, BoAt, Fire-Boltt, Realme Lead Indian Wearables Market in 2021: IDC

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Despite challenges like supply delays, COVID lockdowns, India’s wristband market (including wristbands and watches) grew 141.3 percent year over year (YoY) in 2021, recording 14.4 million shipments units for sale, according to recent data from the International Data Corporation (IDC) India Monthly Handheld Tracker.

Players like Noise, BoAt and Fire-Boltt led the Indian market in the wearable watch category, few other local brands like Pebble and Zebronics had significant sales. According to IDC, India-based brands now account for a quarter of the overall wearable watch market. “Aggressive discounting, heavy marketing promotions, and multiple launches helped these brands dominate the segment,” says the IDC report.

Meanwhile, wristbands have shrunk by 34 percent annually, with xiaomi maintaining its leadership in wristbands with a drop of 43.7% year-on-year in 2021.

Watches have shown the strongest year-over-year increase, growing 364.1% in 2021. Nexxbase (Noise) led the year with a 27.0% share and maintained its lead for the seventh consecutive quarter. IDC notes that the company’s diversified product portfolio, coupled with multiple launches and aggressive marketing investment, helped the brand maintain its competitive position. Colorfit Pro 2, Pro 3 and Pulse represented a 60.4 percent share of the brand portfolio.

BoAt ranked second with a 25.1 percent market share. And Fire-Boltt emerged as the third largest player in the watch market with an 11.6 percent market share in 2021. “Its omnichannel approach, the addition of new brand ambassadors, and multiple launches at all levels prices helped the brand gain much-needed visibility in the marketplace,” the report says.

Meanwhile, Realme finished fourth with 5.6 percent, (Amazfit) grew 57.3 percent. “The Indian watch market is thriving with a strong increase in adoption due to increased health and fitness awareness. As consumers look for the best combination of features, price and quality; most brands are trying to step up to meet changing consumer needs through product design and pricing strategies combined with partnerships and collaborations,” said Anisha Dumbre, market analyst, client devices, IDC India.

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