The Indian wearables market has blown up in the last few years, with a number of players entering the fray with their very own smartwatches and fitness bands. And as a result of this increased number of players entering the market, coupled with the fact that there has been some meaningful growth in technology in the segment in the recent past, has now led to the wearables market in India reaching its all time high in India.
According to an IDC report, the segment is currently going through a purple patch that has seen the market for wearable devices grow by 30.9 per cent sequentially in Q2 in India. During the period, the segment also showed an all-time high of 30 lakh shipments in a single quarter.
Smartwatches alone appear to be showing staggering potential for growth in the country, with the segment showing a 99.6 per cent (Year-on-Year) and 42.9 per cent (QoQ) growth in the second quarter of 2019. While Apple emerged as the top dog in the wearables segment, brands like Fossil also managed to make a comeback. Fossil became the leading wearable watch brand with 34 per cent category share, said the IDC.
However, continuing its lead over its competitors, Apple Watch Series 5 remained the first choice for watch lovers in the country.This strong growth for the segment has now made smartwatch makers and those directly involved with the business hopeful about what could lie ahead for them in 2020.
According to Sanjay Gupta (India Head), Vice President and India Country Manager, NXP Semiconductors, technological advancements combined with machine learning abilities, embedded Artificial Intelligence technology along with IoT can unlock a whole new world of opportunities for the Smart Watch market in 2020.
Among the wearables that did really well in 2019, at the top of the list remained Apple Watch Series 5. The smart wearable from Apple is powered by WatchOS 6 and comes with a new Always On’ display feature. It also features some industry leading features and powerful specs.
Samsung Galaxy Watch 4G also appears to have done well for Samsung this year. The watch comes with LTE connectivity which allows it to be used without a smartphone. The Watch Active 4G lets users respond to text messages, use GPS mapping, stream music and more without a smartphone by using just the smartphone’s 4G eSIM feature.
(With inputs from IANS)