Indian Wearable Market Clocks 2.5 Million Units in 2016
March 28, 2017 | IDCEstimated reading time: 4 minutes
According to International Data Corporation (IDC), the wearable market in India observed the total shipments of 2.5 million units in 2016 as per IDC Worldwide Quarterly Wearable Device Tracker.
Total wearable shipment in Q4 2016 was 675K units which includes both smart wearables that can run third party apps and basic wearables which can’t. Wearables shipments declined 19.6% sequentially as basic wearables which accounts to 86.4% of total wearable declined 23.9% in Q4 2016. “Shipments declined in the last quarter of the year after a sharp spike in Q3 owing to channel preparation for festive season in October,” says Navkendar Singh, Senior Research Manager, IDC India.
“However, smart wearable shipments grew 23.6% in CY Q4 2016 as new vendors like Fossil’s made their entry into Indian wearable market and fresh shipments of new models from vendors like Apple and Samsung fuelled the growth”, adds Singh.
In terms of price, <$50 segment continues to dominate the category accounting for 73% of total wearable shipments in CY Q4 2016. This entry level segment is dominated by fitness trackers from vendors like Goqii and Xiaomi while Intex shipments shrunk in CY Q4 2016. “Owing to its low-cost affordability, this price segment continues to see mostly first time buyers experimenting this relatively new form factor in the market. In the effort to enhance value proposition, devices in this price segment has seen drastic evolution over last year from being basic activity trackers to one with display, basic phone notifications and heart rate sensors,” says Karthik J, Senior Market Analyst, Client Devices, IDC India.
Online shipments of wearables at 63.1% in CY Q42016, down from previous quarter as retail and commercial shipments grow. “Although majority of shipments continue to sell through online platform, few vendors especially premium basic wearable (Fitbit, Garmin, Tomtom, etc…) and smartwatch vendors are exploring avenues in offline channel. Offline channel enables such niche vendors to showcase their products and value it offers to their respective target segment,” adds Karthik J.
GOQii: GOQii bounce back to lead Indian wearable market with 15.5% share. Although consumer sales saw some slowdown, commercial shipments managed to offset helping vendor’s total shipments to remain flat over previous quarter. Fitness tracker device backed by integrated service ecosystem like personal trainer, doctor, diagnostic has been unique selling point for vendor. Over 60 percent of Goqii’s shipments comes from commercial segment which is relatively higher compared to other vendors in India.
Xiaomi: Xiaomi slipped to second position with 13.2% vendor share as shipments declined 29.9% in Q4 2016 over previous quarter. Replacing the first gen Mi band, Mi band 2 with display unit and heart rate sensor launched in September solely drives Xiaomi’s shipments in this quarter which continues to be online exclusive. In fact, Mi band 2 is the highest selling heart rate sensing fitness tracker in India in Q4 2016.
Fitbit: Fitbit moves up to third place in CY Q4 2016 as shipments grew 21.2% sequentially. Growth in commercial segment, price discounts on certain devices are few key factors that drove Fitbit’s growth. Fitbit has balanced channel presence with offline contributing to almost half of its sales while online is exclusively catered by Amazon. Vendor is likely to build on this traction with more product launches in coming quarters and expected to make inroads into smartwatch category.
IDC India Forecast
The wearable devices market saw a sharp growth in 2016 and this traction is expected to continue even in 2017. Karthik J says, “While wearable market is seeing some consolidation, several new vendors are expected to enter Indian wearable market. Basic wearable would continue to be key driver and especially sub $50 segment would see more action with new product launches from both existing and new vendors. Heart rate sensor would be a standard feature in most of the new launches. Commercial segment is also expected to grow further in coming quarters.”
“Smartwatch continues to be a niche offering as they struggle to be a mass market device due to premium pricing and limited and unclear value proposition to a broad base of potential users. But given the nascent stage of Indian wearable market, smartwatch to witness some growth in short term but how this form factor would evolve in terms of real world use case would decide the future for this product category,” adds Karthik J.
About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semi-annual, quarterly and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools. The IDC Tracker Charts app allows users to view data charts from the most recent IDC Tracker products on their iPhone and iPad.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world's leading technology media, research, and Events Company.
Suggested Items
Marcy’s Musings: The ‘Magic’ of Additive Processes
05/21/2024 | Marcy LaRont -- Column: Marcy's MusingsThough modern semi-additive and fully additive technologies are still emerging for PCB manufacturing, additive technology itself is not new. Many PCB fabricators find themselves at a crossroads when deciding whether to change their current processes and go additive or stay the course until something significant compels a change. But change is on the horizon, and it seems to be driven by significant technological advancements in chips and advanced packaging, offering PCB fabricators some additive manufacturing solutions to explore.
Textron Systems Collaborates with Kodiak to Develop Uncrewed Military Vehicle
05/20/2024 | PRNewswireTextron Systems Corporation, a Textron Inc. company, a leading developer of crewed and uncrewed military ground vehicles, and Kodiak Robotics, Inc., a leading self-driving technology developer for the trucking and defense markets, announced that they are collaborating to develop an autonomous military ground vehicle specifically designed for driverless operations.
Additive Manufacturing: PCB007 Magazine May 2024 Issue
05/20/2024 | I-Connect007 Editorial TeamThough modern semi-additive and fully additive technologies are still emerging for PCB manufacturing, additive technology itself is not new. In this month’s issue, we explore additive manufacturing technology for the PCB fabricator: where it stands today, the true benefits, and where it seems to be headed.
Terran Orbital’s GEOStare SV2 Captures 3 Years of Success in High-Resolution Imaging
05/17/2024 | BUSINESS WIRETerran Orbital Corporation, a global leader in satellite-based solutions primarily serving the aerospace and defense industries, celebrates the 3rd anniversary of its successful GEOStare SV2 mission. Launched on May 15, 2021, from NASA’s Kennedy Space Center in Florida, GEOStare SV2 has surpassed expectations, delivering exceptional results for commercial satellite imagery.
Indium Experts to Present on High-Temperature, Lead-Free Solder Paste and High Reliability Liquid Metal Alloys Poster at ECTC
05/16/2024 | Indium CorporationIndium Corporation Research Associate Kyle Aserian will deliver a presentation at the 74th Electronic Components and Technology Conference (ECTC) on May 31, in Denver, Colorado.