News18» News»Tech»Indian Wearables Market Grew by Over 144% in 2020, Earphones Took 86% Share: IDC Report
1-MIN READ

Indian Wearables Market Grew by Over 144% in 2020, Earphones Took 86% Share: IDC Report

Indian Wearables Market Grew by Over 144% in 2020, Earphones Took 86% Share: IDC Report

India was the only country in the top 20 to see triple-digit growth in wearables last year and continues to be the third-largest market in the world.

The Indian wearables market saw a massive 144.3 percent year-on-year (YoY) growth in 2020, with a total of 36.4 million shipments, according to the International Data Corporations’ Worldwide Quarterly Wearable Device Tracker report. India was the only country in the top 20 to see triple-digit growth in wearables last year and continues to be the third-largest market in the world. The growth, according to the IDC report, was majorly driven by the increasing acceptance of earwear devices (wireless earphones) and people upgrading to watches from wrist bands. Both earphones and smartwatches/wrist bands recorded their highest-ever annual shipments in 2020.

Earwear devices shipments grew by more than thrice last year as compared to 2019, mainly driven by more affordable launches and expanding use cases like virtual meetings and e-learning. Truly wireless earphones were the top gainer, seeing a ten-fold increase with shipments totaling 11.3 million units in 2020. The fourth quarter of 2020 was also the biggest quarter for wearables in India, maintaining triple-digit growth. Overall, vendors shipped 15.2 million units in Q4 2020, according to the IDC report. Q4 2020 was also the first time smartwatches crossed the 1 million shipments mark in a quarter, as vendors shipped 1.3 million units during the last quarter.

The IDC report said that the smartwatches market registered a 139.3 percent year-on-year growth with 2.6 million units being shipped in 2020. Wristbands shipments, on the other hand declined for the first time by 34.3 percent year-on-year in 2020, ending at 3.3-million unit shipments. 2020 has been the first time the device’s shipments have seen a decline. Xiaomi led the wristbands category with a 46.7 percent market share. The earwear category accounted to 83.6 percent of the overall wearables market, shipping a total of 30.4 units in 2020.