India shipped 100 million wearable devices in 2022, an increase of 46.9 percent from the previous year, according to IDC.
The second half of the year accounted for more than 60 percent of the total. This growth ws driven by several new product launches ahead of the festival season combined with offers/discounts across channels.
Smartwatch shipments hit 30.7 million units in 2022, a growth of 151.3 percent as average selling price (ASP) slid to US$42.5 compared to US$61.2 a year ago. Basic smartwatches continue to dominate with a 95.5 percent share, growing by 158.0 percent in 2022. Wristbands declined by 73.2 percent, with shipments dropping to half a million.
However, it was the earwear, with the lowest ASP globally at US$19.8, that accounted for a lion’s share of 68.7 percent of the overall wearables category.
“Vendors faced supply challenges throughout 2022, especially for smartwatches, which are not expected to ease off completely before early 2H23. Local manufacturing is expected to scale up to more than 80 percent by exit 2023, with more players opting for local sourcing of parts/components,” says Vikas Sharma, Senior Market Analyst of Client Devices at IDC India.
“To maintain similar growth in 2023, smartwatch vendors would need to remain focused on the entry-level price segment with essentials like Bluetooth calling, higher display brightness (1000+Nits), etc. fresh designs and new segments (like rugged sportswear, kids and elderly watches), enhanced app integration & collaboration with fashion brands with wider presence across large format stores. The earwear players will need to focus on features like gesture sensing, ANC and low latency at affordable price points,” said Upasana Joshi, Research Manager of Client Devices at IDC India.