Additional, with quarter-on-quarter (QoQ) development of over 8 per cent within the fourth quarter 2021 and have become the market’s greatest ever quarter, the Counterpoint Analysis’s not too long ago revealed ‘World Smartwatch Mannequin Tracker’, mentioned.
Round 80 manufacturers are current in India’s smartwatch market and over ten manufacturers entered the market in 2021, the report mentioned, including that 78 per cent of the cargo got here from on-line channels, the place Flipkart and Amazon contribute 48 per cent and 43 per cent, respectively.
Characteristic-packed merchandise
“The smartwatch market is exhibiting great development, which is attributed to elevated well being consciousness, inexpensive costs, development of recent entrants, low cost schemes and quite a few launches of feature-packed merchandise all year long. Greater than 86 per cent of the entire shipments have been pushed by the under-₹5,000 worth band, in comparison with 59 per cent within the earlier yr,” Anshika Jain, Senior Analysis Analyst, Counterpoint Expertise Market Analysis (India) mentioned.
Lots of the options which have been earlier current within the ₹3,000 – 5,000 worth band smartwatches at the moment are discovered within the ₹2,000–3,000 section, like SPO2, blood stress monitoring, voice help and bigger show. Even options of premium smartwatches like ECG and Bluetooth calling, might be seen in smartwatches priced below ₹5,000, she mentioned.
Quickest-growing model
Noise was the fastest-growing model among the many world high 9 manufacturers and it was main the expansion of the Indian smartwatch market. It was was India’s number-one model in 2021 and 2020.
“Noise is the primary Indian smartwatch model and leads the expansion of the native market. It captured the highest place in 2021 as a result of its numerous product portfolio focusing on the price range and mid segments, in addition to sturdy partnerships with e-commerce gamers, monetary establishments and celebrities,” Jain mentioned.
Noise additionally targeted on group constructing and barely shifted its worth base in direction of the decrease aspect to make its smartwatches accessible to a bigger group, a technique that proved to be efficient. All this resulted in Noise rating third by way of shipments after Apple and Samsung within the APAC area besides China in 2021, she added.
One of many driving forces behind the worldwide smartwatch market development in 2021 was as a result of enlargement of the Indian market, the report mentioned, including that this market accounted for under three per cent of the worldwide share in 2020. Nonetheless, it grew 4 occasions in 2021 to lift its world market share near 10 per cent.
After Noise, different manufacturers to observe the rankings embrace boAT, Hearth Bolt (one other native firm), Realme, Amazfit, Samsung and Apple, the report added.
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