Watches grew 463.8% year over year in Q1 21, making it the fastest growing category for wearables. They replaced earwear, which also saw three-digit growth in the first quarter of 2021. mainly due to a decline in earwear deliveries. After three-quarters of enormous growth, the earwear category posted a quarter-on-quarter (QoQ) decline of 28.6% in the quarter.
Top player in the wearable segment
Xiaomi maintained its lead in the bracelet category with a 37.3% share for the quarter. OnePlusThe newcomer in this category came in second and replaced Realme with a share of 25.2% in the quarter.
The smartwatch segment is led by noise with a share of 26.7%, followed by boat with a share of 21.9%. “As the number of low-cost devices in the market increased, the ASP category fell from $ 166 in Q1 21 to $ 88. Additionally, the ASP category fell 31.0% from the previous quarter. This trend underscores that vendors are aggressively trying to capitalize on this market by introducing cheaper devices, “the report added.
The earwear category grew 209.3% year-on-year to 9.3 million shipments in the first quarter of the year. With its several devices in its portfolio, BoAt continued to lead the overall category of earphones with a share of 29.3%, followed by OnePlus with a share of 15.1%.
Finally, the Truly Wireless Stereo (TWS) category grew 284.4% year over year, accounting for 35.0% of the total earwear category. This category was also led by BoAt with a share of 25.6% and One Plus came second with a share of 11.9%.
Commenting on the growth of the Indian wearables market, Jaipal Singh, Associate Research Manager at Client Devices at IDC India, said: “From style to health monitoring, wearables have become one of the most advanced devices of recent times. The category is experiencing constant change in the competitive landscape as new players enter the segment. ”