Smart wearable devices have now become a part of users’ lives, which include smartwatches, smartbands, smart rings, etc. The market is continuously expanding and the demand for wearables is increasing among the users. A recent report in this regard says that the smart wearable market has developed significantly in this year i.e. 2023. Especially in the third quarter of the year, there has been a boom in the market. In which 14.8 crore wearables have been sold. This is an increase of 2.6 percent year over year.
smartwatch Like the wearable market is continuously registering growth. of International Data Corporation Report It has been reported that 14.21 crore units of wearables were sold in the third quarter of 2021. Whereas in the third quarter of 2022, 14.46 crore units were sold. Now this figure has reached 14.8 crore units. This shows that there has been a positive trend in the market for three consecutive years.
Among the top brands in terms of wearables Apple Is continuously at number 1 position. Which has shipped 2.99 crore units in the third quarter of 2023. The market share of the company is said to be 20.2%. Yes, but Apple has suffered a loss in year over year growth which has decreased by 26.7%. Whereas boat Its parent company Imagine Marketing has reached the second position here. The company has achieved 9.6% market share in the third quarter. Its number of shipments is said to be 1.43 crore. The company has registered a growth of 19.4% year over year.
Boat has been performing well in smart wearables for some time now. The company’s focus has been on the Indian market, which has created a large range of wearable products here. Recently the company has also launched a smart ring which is priced at Rs 8,999. According to the company, all the necessary health features are available in it. Xiaomi is at number three here which shipped 1.16 crore units. The company’s market share is said to be 7.8%. Here it has seen a big jump in year over year growth which is 36%.
Samsung smart wearables It is at number four in India which has shipped 1.07 crore units. The company’s market share is 7.2 percent. Huawei is at number five here which sold 80.5 lakh units. The company’s market share is said to be 5.9 percent.