The India wearables market posted a remarkable 144.3% year-over-year (YoY) growth in 2020, exiting 2020 with 36.4 million unit shipments, according to the recent data from the International Data Corporation’s (IDC) Wo rldwide Quarterly Wearable Device Tracker. India was the only country in the top 20 to see triple-digit growth in wearables in 2020 and continues to be the third-largest wearables market globally. This growth was majorly driven by the increasing acceptance of earwear devices and upgrades to watches from wrist bands, both recording their highest annual shipments in 2020.
Earwear device shipments grew more than threefold in 2020 compared to the previous year, mainly driven by the affordable launches, and expanding use cases beyond entertainment like virtual meetings and e-learning requirements. Truly Wireless Stereo (TWS) devices were the top gainer seeing a tenfold increase with shipments totaling 11.3 million units in 2020.
“Hearables became one of the most sought-after electronic categories in 2020. The newer version of hearables are much better in managing the increased audio usages and improved aesthetic and design also made them the trendsetter,” says Anisha Dumbre, Market Analyst, IDC India. She further adds, “TWS category saw the much-needed price corrections with several vendors launching devices at more affordable price points leading to the drop in the average selling price of TWS to $45 in 2020 from $110 in 2019.” [Read more…] about India wearables market sees triple-digit growth in 2020, according to IDC