India’s sensible watch market hit a report excessive within the second quarter with shipments quadrupling in comparison with the identical time final 12 months based on the newest Counterpoint Analysis Report. The rising demand for smartwatches is pushed by robust client demand and a number of high-profile launches as manufacturers proceed to extend their presence each on-line and offline. A 3rd of all smartwatches, a report, had been offered offline. A complete of fifty new smartwatch fashions had been launched throughout the interval, and half of all gross sales had been within the 3,500 rupees ($44) sub-price class.
Hearth-Bolt was the chief by way of market share with 28%, surpassing rivals BoAt and Noise within the final 12 months’s interval. The model maintained robust on-line gross sales and likewise expanded its offline presence to succeed in extra customers. Hearth-Boltt additionally had essentially the most product launches within the second quarter and was the primary by way of offline shipments.
Noise slipped to second place with a market share of 26% whereas persevering with to put up an annual development of 293% by way of shipments. It accounts for 75% of all domestically manufactured smartwatches and has provided Bluetooth connectivity on 40% of their watches. Noise topped the web shipments class and got here second by way of offline shipments.
The third place belongs to boAt with a market share of 19.5%. The Storm and Xtend fashions had been bestsellers, and the newly shaped TAGG and Defy sub-brands additionally contribute to the shipments. Samsung grew 295% year-over-year with robust demand for the Galaxy Watch4 and took the 4th place whereas Dizo remained within the fifth place.
Titan occupies the sixth place with a market share of two% whereas Realme comes within the seventh place. Apple ranks eighth with the Watch Sequence 7 being its best-selling watch with an estimated 250,000 shipments within the second quarter. Pebble comes on the ninth place whereas OnePlus takes the highest ten record because of the well-known OnePlus Watch which was the chief within the value class between INR 10,000 and 15,000.
Counterpoint analysts anticipate the Indian smartwatch market to stay extremely aggressive with the highest three positions open for acquisition within the coming quarters.
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