The International Data Corporation (IDC) has released its Q3 2020 data for smartwatches and earphones and the firm suggests year-over-year (YoY) growth of 165.1 per cent was recorded in the overall Indian products market. The most significant growth was seen in the earwear category, with a total of four million true wireless stereos (TWS) devices reportedly shipped during the quarter. The TWS category registered an annual growth of 1156.3 per cent in Q3, 2020. 11.8 million units shipped to India’s overall market in the third quarter of 2020.
The new IDC report claimed that wearable devices have become affordable in the last few quarters, resulting in increased shipments. The average selling price of TWS earbuds has also come down to $ 57 (about Rs 4,200) in Q3 2020 – a drop of 48.6 per cent, resulting in mass shipments and growth. TWS earbuds-led earwear category saw growth of 260.5 per cent in the third quarter of this year.
IDC notes that Boat leads the earwear category with 32.4 per cent share in the market in the third quarter, and Samsung comes in second place with a 15% share. After bringing it down in the TWS category, Boat again led with 26.1 per cent share, and Realme came in second place with 15.5% market share.
Coming to other categories in the wearable segment, IDC says that while wrist growth grew 83.3 per cent quarter-on-quarter (QoQ), the first half of 2020 saw a steady decline in wristband shipments. Due to the decline in the first six months, the wristband category saw a 20.3 per cent drop. IDC says that this is because users in India have started shifting the watches from wristbands. In the wristband caper cent Xiaomi holds the top position with a 52.4 percent market share and Realme comes second with 14.6 percent market share.
The Q3 saw a significant increase of 119.9 per cent in the category of watches. IDC claims that 778 thousand devices were shipped in this category, which is the largest quarter since the introduction of this category in India. ‘IDC suggests that this could be $ 111 (about Rs 8,200) in Q3 2020 due to the average selling price of watches falling below $ 175 (roughly Rs 12,900) in Qper cent This has prompted buyers to switch to watches on wristwatches. Noise leads the segment with 28.5 percent share, Realme and Huami are second with 24.2 per cent share.