Noise Leads as India Smartwatch Market Grows 173 Percent YoY in Q1 2022: Counterpoint Research study
India’s smartwatch market grew 173 percent YoY in Q1 2022, according to the most current Counterpoint information. Smartwatch maker Noise led the market in the very first quarter with a market share of 23 percent. Fire-Boltt came 2nd for the very first time with a 21 percent market share. Boat was put in 3rd spot with a 16 percent share in the marketplace. Dizo entered the leading five list for the first time in Q1 2022. It deserves noting that more than 10 brands went into the marketplace in the first quarter consisting of Defy, Fastrack, Truke, and Reebok. Amazfit decreased 35 percent YoY in Q1 2022.
The leading 3 brand names– Sound, Fire-Boltt, and Boat– had a market share of 60 percent. According to the Counterpoint information, Noise was able to capture the first position with 23 percentmarket share by its value-for-money offerings, emphasis on the Make-in-India scheme in addition to adding pertinent functions to its item portfolio. The Colorfit Pulse was the best-selling model from Noise.Fire-Boltt came in second position for the first time by highlighting budget-friendly and feature-packed products. The smartwatch brand targeted varied smartwatch segments like fashion, lifestyle, physical fitness, and high-end to get 21 percent of the market show its Ninja Pro Max being the business’s most
popular gadget. Boat, which came in the 3rd area with a 16 percent market share, had actually upgraded its portfolio with five brand-new smartwatch designs in the very first quarter of the year. Practically two-thirds of Boat’s total portfolio was recorded by the Xtend and Storm models.Dizo can be found in the top five spots for the very first time. Dizo increased its offline existence in the first quarter along with introducing the OLED display screen with its Watch R. The Rs. 1,000– Rs. 2,000 list price band likewise reached a bigger market share of 14 percent as compared to 2 percent just a year earlier. The marketplace share of wearables under Rs. 5,000 market price band increased from 78 percent to 87 percent. The very first area in the Rs.
10,000– Rs. 15,000 price range was taken by OnePlus with 45 percent of market share. Apple’s wearables continue to lead the premium smartwatch segment, that is, wearables costing more than Rs. 30,000 with over 87 percent market share.Talking about the functions of the wearables, Research Expert Harshit Rastogi stated,” The brands are pushing larger display screens, which consumers are readily accepting. By pressing larger displays, the brands are also bring in clever band users as these bands have actually restricted performance due to smaller sized display screens. The contribution of the > 1.5-inch smartwatches increased to more than half of the overall smartwatch market from just 11 percent last year. In addition, a few of the most demanded features like SpO2 are now present at all cost levels. Blood pressure monitoring in addition to voice assistant are trickling down to lower rate bands to draw in budget-conscious clients.”More than ten brand names entered the Indian smartwatch market in the very first quarter including Defy, Fastrack, Truke, and Reebok. Other major smartwatch makers including Samsung, Apple, Xiaomi, and Realme also registered development throughout the first quarter. Samsung grew 78 percent YoY. The Galaxy Watch 4 series ended up being Samsung’s >greatest selling wearable. Apple grew 104 percent with the series 7 variants acting the major volume driver.Xiaomi taped a growth of 238 percent in Q1 2022. The Redmi Watch 2 Lite is selling quickly in the market. Realme had likewise market share of 3 percent. The Smartwatch S100 ended up being the best-selling smartwatch for Realme’s Techlife brand.While Zebronics maintained a position in the leading 10, the marketplace share
of Amazfit declined 35 percent YoY in the first quarter. The GTS Mini 2 drove over 30 percent of the company’s shipments.Published at Fri, 06 May 2022 12:56:47 +0000