India s wearable market surges by 34% in 2023 to 134mn units: Report orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
India’s wearable market registered double-digit gains in Q4 2023, with a surge in smartwatch shipments offsetting declines in wristbands and earwear, data from IDC showed.
India s Wearable Market Rises 34% In 2023 To 134Mn Units: Report menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Boat led the overall wearables market with a volume share of 26% in 2023. Noise slotted into the second spot with a 12.1% share, while Fire-Boltt ranked third with a 10.1% share, IDC data showed. Oppo (including OnePlus) ranked fourth with a 7.8% share, while Boult Audio rounded off at the fifth spot with a 6.9% share.
The wearable market is anticipated to witness its slowest growth in 2024 since its inception in 2020, with market analysts predicting a single-digit growth rate following a significant 34% year-on-year increase in 2023 to a record 134.2 million units. Factors contributing to this slower growth include a plateauing pace of innovation, inventory accumulation, and a decline in average selling prices (ASP) despite a 15.4% decrease in ASP.