Wearable Devices Market in India 2020

     

 This research report presents a comprehensive overview on the India Wearable Devices market, further presents an analysis on its products and services in the market and the leading companies operating in the Wearable Devices industry. You will also find many facts & figures and statistics related to the India Wearable Devices market.

Along with a detailed overview, this report also has SWOT analysis and PEST analysis which provide a deeper insightful look into the Indian Wearable Devices market. There’s also regional analysis which furthermore increases the credibility of the data provided in this report. The data has been presented in such a way that is easy to understand. You will find pie charts, graphs, and other visual representations that will provide better sense of the information.

The research report widely covers the business profiles of all the key players that operate in the India Wearable Devices market. These companies have been thoroughly profiled and the report contains information on their growth projections, development prospects, their business strategies, sales data, and their current business revenue, to the expected revenue. Based on the report, you can understand what the leading players are planning to do in the next 5 years, and this data will help you to make important business decisions. Titan Company Limited, Apple India Private Limited, Fitbit India Private Limited, Fossil India Private Limited, Garmin India Private Limited and more - all the top companies operating in the India Wearable Devices market and their business strategies have been profiled in this research report.

Wearable devices are portable smart devices that are worn on the body. The portfolio of these devices include wristband, smartwatch, smart glasses, and pulse oximeters among others. With upgradation of technologies such as the IoT, robotics, augmented reality (AR) and virtual reality (VR), the popularity of wearable devices has increased rapidly in the country.

Market insights: 
In terms of sales volume, since 2015, the popularity of wearable devices in the Indian market has gained momentum. The sales volume of wearable devices in the Indian market is expected to expand at a compound annual growth rate (CAGR) of ~27.92% during the 2020-2025 period to reach a volume of 20.10 Mn units by 2025. Beside smartwatch and wristband devices, ear-worn devices have become prevalent in India in the last two years. The ear-worn devices segment gained a considerable market share in 2019 that led to the notable development of the overall wearable devices market. The growth of the market can be attributed to improved awareness among people regarding fitness and wellbeing, along with technological advancements, and availability of high-speed internet connectivity. Furthermore, several government initiatives such as the National Digital Health Mission, Self-reliant India, National Health Policy, Digital India and Make in India are considered to be major driving factors. However, lack of data privacy and security, and high price range of smart products are likely to hinder the rapid adoption of these devices.

Segment Insights:
Based on its product type, the wearable devices market in India has been segmented into wristband, smartwatch, ear-worn, and other wearable devices. As of 2019, the wearable devices market was dominated by the earwear segment, accounting for about 51% of the market’s total sales volume. The earwear market segment was followed by the wristband segment, holding about 41% of the total market share. Prior to 2019, the earwear segment was less popular among people, and therefore, was an insignificant contributor to the overall wearable devices market. However, with the transition from wired to wireless earphones, Bluetooth-enabled earphones gained widespread acceptance. Furthermore, major smartphone companies discontinued to provide earphones as a free accessory. Consequently, the earwear segment stood out as an outperformer. As an impact of the COVID-19 pandemic, the earwear devices segment is anticipated to remain the fastest growing segment in the market during the 2020-2025 period, as a major portion of India’s population adopted wireless earphone devices owing to the increase in remote work culture and increased consumption of entertainment during the lockdown.

COVID-19 impact analysis:
The pandemic and the prolonged lockdown has generated a mixed impact on the wearable devices market in India. While the demand for wireless earwear devices and pulse oximeters skyrocketed, the quarter-to-quarter (Q1 2020-Q2 2020) sales volume of smartwatches and wristbands declined by almost 36%. The waning sales volume of these smart devices could be the result of the implementation of stay-at-home orders, reduced physical activities of individuals, and temporary shutdown of fitness centers.

Companies covered
Titan Company Limited
Apple India Private Limited
Fitbit India Private Limited
Fossil India Private Limited
Garmin India Private Limited
Google India Private Limited
GOQii Technologies Private Limited
Huawei India Private Limited
Samsung India Electronics Private Limited
Xiaomi Technology India Private Limited
World of Play
Blott Sports Technologies Private Limited
Witworks Consumer Technologies Private Limited
Actofit Wearable Technologies Private Limited

With this research report, you can get an insightful view of the India Wearable Devices market. So, if you are looking to make smart investments, you will be at an advantage with all the relevant data at your fingertips. This report also contains market analysis, growth analysis, and competitive landscape report, so if you are looking to start your own business in the India Wearable Devices market, you can use this report to assess business opportunities and make business strategies. 

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