Smartwatch shipment records 127 percent YoY growth
New Delhi: Smartwatches do tell the time — such as smartphones which still make and receive calls — but this particular wearable section has come of age with real life use cases in areas like health and fitness along with a connected app ecosystem which has made them a preferred selection for the Indian millennials.
According to the International Data Corporation’s (IDC)’Worldwide Quarterly Wearable Device Tracker Q3 2019′, 3.07 lakh watches were sent during the third quarter into India — registering 47 percent growth quarter-on-quarter and 127 per cent growth year-on-year.
Among the watches, the nation saw the arrival of 1.87 lakh smartwatches in the third quarter, registering 28 percent QoQ growth and 93 per cent YoY growth.
For the smartwatch players, India offers immense growth potential with a strong millennial base with income being dominated by the Apple Series.
Here, one has to understand the difference between a smartwatch and a one.
Apple, Fitbit and Fossil are true smartwatches while the rest of the crowd comes under the fundamental watch (with intelligent features) category.
To make it simpler, a basic watch is like an entry-level smartphone — manufacturers such as Huami’s Amazfit, Huawei etc. — while smartwatch — that can run third-party applications on the device itself — is considered truly’smart’.
‘Basic watch comprises devices resembling traditional wrist-worn watches and/or devices where timekeeping is a function that is main. Timekeeping and a default watch screen, or see face are a necessity for a device to be considered as a basic’watch’,’ Jaipal Singh Client Devices, IDC India, told IANS.
In a price-conscious market like India, several brands have entered the fundamental watch category.
‘The mid-range segment or entry-level watch (basic watch) segment is growing very fast as more and more Indians realise the importance of staying fit. Individuals who wore fitness bands for years are now switching to these watches, and, finally, true smartwatches. We will see brands entering this segment in 2020,’ elaborated Singh.
Smartwatches saw a healthy 99.6 percent (YoY) and 42.9 percent (QoQ) increase in the second quarter from the country.
At the rate of 30-40 lakh wearables each quarter, we can readily see India consuming in between 1.2 crore and 1.5 crore wearables in a year which is still small compared to globally but the growth is stupendous.
The wearable market is expected to reach international shipments of 222.9 million units in 2019, with earwear and watches accounting for more than 70 per cent of wearable shipments by 2023.
According to Ramon T. Llamas, Research Director, wearables team, IDC, smartwatches’will move deeper into health and fitness and connect with a number of systems and applications, both at work and within the home.’