Indian brands dominate smartwatch market, most smartwatches shipped in 2021 – report


New Delhi. The smart watch market in India has grown tremendously. This information comes from a new report by Counterpoint Research. An interesting thing has come to light according to the data given in this report. The report states that only three companies hold 75% share of the smartwatch market. Most importantly, these are all Indian companies. These include Noise, BoAt and Fire-Bolt, which shipped the country’s smartest watches in Q3, 2021.

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Dominance of Indian companies

Each company, individually, accounts for 25% of the total market share. It is growing at 231% year on year. In terms of total shipments, the company accounted for 43% of the new smartwatches.

BoAt has almost the same market share as Noise. The company has a market share of 24%. BoAt Storm has been largely responsible for this. Only this smartwatch has gained 17% share in the entire smartwatch market. This is nothing short of a success. We tell you that boAt has become a market leader in the Rs 2,500 to Rs 3,000 segment.

Speaking of Fire-Boltt, the company posted a 394% quarterly growth to become the fastest growing smartwatch maker. It launched 7 new smartwatches this quarter and registered a market share of 17%. The company led in the segment priced at Rs 2,000 and below.

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Since then, Samsung, Apple and OnePlus have taken positions. All of these significantly increased the market during the quarter. Thanks to the Apple Watch SE, Apple captured market share with a price tag of Rs. 20,000 and above. OnePlus, on the other hand, led the Rs 10,000 to Rs 15,000 segment with the OnePlus Watch.

These figures show that smart watches are gaining popularity in the country. Not surprisingly, the Budget Smart Watch segment is at the forefront of the market in terms of volume. Domestic players, with good value products, are seeing this kind of reaction in the market.

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