Indian wearable market clocks 2.5 million units in 2016, low cost fitness trackers being key driver: IDC India
Total wearable shipment in Q4 2016 was 675K units which includes both smart wearables that can run third party apps and basic wearables which can’t.
Wearables shipments declined 19.6 percent sequentially as basic wearables which accounts to 86.4 percent of total wearable declined 23.9 percent in Q4 2016.
“Shipments declined in the last quarter of the year after a sharp spike in Q3 owing to channel preparation for festive season in October”, says Navkendar Singh , Senior Research Manager, IDC India
“However, smart wearable shipments grew 23.6 percent in CY Q4 2016 as new vendors like Fossil’s made their entry into Indian wearable market and fresh shipments of new models from vendors like Apple and Samsung fuelled the growth”, adds Singh .
In terms of price, $50 segment continues to dominate the category accounting for 73 percent of total wearable shipments in CY Q4 2016.
This entry level segment is dominated by fitness trackers from vendors like Goqii and Xiaomi while Intex shipments shrunk in CY Q4 2016.
“Owing to its low-cost affordability, this price segment continues to see mostly first time buyers experimenting this relatively new form factor in the market. In the effort to enhance value proposition, devices in this price segment has seen drastic evolution over last year from being basic activity trackers to one with display, basic phone notifications and heart rate sensors”, says Karthik J , Senior Market Analyst, Client Devices, IDC India
Online shipments of wearables at 63.1 percent in CY Q42016, down from previous quarter as retail and commercial shipments grow.
“Although majority of shipments continue to sell through online platform, few vendors especially premium basic wearable (Fitbit, Garmin, Tomtom, etc…) and smartwatch vendors are exploring avenues in offline channel. Offline channel enables such niche vendors to showcase their products and value it offers to their respective target segment”, adds Karthik J .
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