Strong adoption of entry-level models has helped grow the smart wearables market like fitness trackers and smart watches in India to 6.12 lakh units in the first quarter of 2017, research firm IDC today said.
Strong adoption of entry-level models has helped grow the smart wearables market like fitness trackers and smart watches in India to 6.12 lakh units in the first quarter of 2017, research firm IDC today said. Basic wearables accounted for almost 90 per cent of total wearable shipments in the March 2017 quarter. “In addition to the low entry price of basic wearables, consumers are now getting better value from these devices as the category now offers advanced features,” IDC India Associate Market Analyst (Client Devices) Celso Gomes said. Features such as heart rate, sleep monitor, among others, are soon becoming the must-have features in basic wearables, even in entry level ($ 50) segments, he added. The wearables market is expected to grow at a double- digit in the June 2017 quarter.
Few new vendors, primarily China-based, are expected to make inroads into the Indian market, especially in sub-$ 50 segment, IDC said. “Currently, primary use-case of wearables are focused on the specific niche market like fitness and health. Hence, to sustain volume and existence in long run, wearables should evolve to appeal to a wider consumer segment,” IDC India Senior Research Manager Navkendar Singh said. The wearables market should differentiate itself either in terms of service offered with the product or its product features to enhance the scope of the market, he added.
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The sub-$ 50 (under Rs 3,200) segment continued to dominate the market, accounting for 78.6 per cent of total wearable shipments in the said quarter. The entry-level segment was led by GoQii with 20.8 per cent share, followed by Xiaomi (10.1 per cent) and Fitbit. “New entrants like Titan, with aggressive marketing, have entered Indian wearable market in March further increasing the competition in this highly cluttered entry-level segment,” Gomes said.