The area of wearables includes audio gadgets, smartwatches, and fitness trackers. In the third quarter of 2022, from July to September, the wearable market in India rose by 56.4 percent year over year, according to International Data Corporation (IDC). Compared to 23.7 million units shipped during the same time period previous year, all three product groups contributed to the 37.2 million shipments.
According to the IDC research, smartwatches saw a tremendous YoY rise of 178 percent. In comparison to 4.3 million in Q3 2021, brands sold 12 million smartwatches in Q3 2022. Sales of fitness trackers decreased by 80% in the meantime. 25 million units were sold in the earwear category, up 33 percent from 18 million in the previous year.
boAt had a 32.1 percent market share of all wearables, while Noise came in second with 13.8 percent. With an 8.9 percent share, Fire Boltt is third. With 8.2 and 4.2 percent of the market, OnePlus and Realme took fourth and fifth place, respectively. Only Realme experienced a negative 18.5 percent year-over-year loss in market share.
With a growth rate of 216.5 percent year over year, Noise led the market for smartwatches. More than 30% of shipments were made up of the ColorFit Caliber and ColorFit Icon Buzz products from the firm. The Ninja Pro Max, Ring 3, and Ninja Bell smartwatches from Fire Boltt propelled the company to second place. Thanks to the Xtend and Wave Call smartwatches, boAt placed third.
Thanks to the top-selling Airdopes 141 and 131, boAt had a 41.1 percent market share in the truly wireless market. Due to the contribution of Bullets Wireless Z2, Noise kept the second slot and OnePlus took third place with a 6.8 percent share. Mivi grew by 1921.1% YoY and is currently ranked fourth in the TWS headset category for earwear.
