India becomes world’s biggest smartwatch market: Report

India has grown to become the world’s biggest smartwatch market in the world, according to a report by Counterpoint. Barring China and Europe, all other markets have shown positive growth. If we take a look at the global level, the global smartwatch market shipments grew 30 percent YoY in Q3 2022. Also Read – India wearable market registers 56.4% growth, boAt leads: Report

Noise, BoAt, and Fire-Boltt were the top contributors

Counterpoint Research has updated its Global Smartwatch Model Tracker and as per it, the smartwatch market worldwide has shown a plus in terms of shipments. The global market shipments increased 30 percent YoY in the third quarter of this year. Also Read – Gurgaon woman traces stolen phone with smartwatch

India, specifically, has shown the most positive growth. India’s smartwatch market grew 171 percent YoY in Q3 of this year, which has made it the biggest smartwatch market in the world. Also Read – Flipkart, Amazon sale: Best deals on smartwatches under Rs 3,000

North America, which was the largest smartwatch market from Q4 of 2020 to Q2 of 2022, has shown a growth of 21 percent YoY, despite not being in the top position.

As per a research analyst at Counterpoint, India’s positive growth is attributed to the festive season in the country. There were sales round the clock in the festive period, which has mainly contributed to the country’s large market.

Moreover, Indian brands expanded their product portfolio by launching products at affordable prices. Brands such as Noise, BoAt, and Fire-Boltt make affordable smartwatches with bigger screens. Noise, itself, grew 218 percent YoY to regain the top spot in the Indian market as a smartwatch company.

In addition to this, consumers preferred bigger displays and Bluetooth calling, and as said, most of these aforesaid brands made bigger display watches (about 1.5-inch to 1.69-inch) and some even had Bluetooth calling. Reportedly, the Bluetooth calling feature in a smartwatch, alone, has contributed 58 percent share in the total shipment.

This has shown how Bluetooth calling, a large display, and affordable pricing strategies have made the local smartwatch brands take a lead in the global smartwatch space.

If we consider global brands, Apple was the popular smartwatch brand that grew 48 percent YoY owing to the sales of the newly launched Apple Watch Series 8.

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