All-time High is Reached by India’s Wearables Market in 2019December 28, 2019 14:18
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A number of Indian companies have entered the fray with their very own fitness bands and smart watches and has blown up the Indian wearables market in the last few years.
Technological growth has been visible as the numbers of players entering the market has increased as a result of which the wearables market in India is reaching its all time high in India.
The segment is currently going through a purple patch which has witnessed the market for wearable devices sequentially growing by 30.9 per cent in Q2 in India, says an IDC report. 30 lakh shipments have been made in a single quarter during the period, which is an all time high.
Smart watches has majorly contributed for the potential growth in the country, with the segment showing a 99.6 per cent (Year-on-Year) and 42.9 per cent (QoQ) growth in the second quarter of 2019. however, Apple emerged top in the wearables as Apple Watch Series 5 remained the the first choice for all the watch lovers in the country, Fossil made a comeback as being the leading wearable watch brand with 34 per cent share in the category, IDC said.
Sanjay gupta, Vice President and India country Manager, NXP Semiconductors, says that, a combination of technological advancements with machine learning abilities and embedding Artificial Intelligence technology along with IoT can unlock many opportunities for the Smart Watch market in 2020.
By Shrithika Kushangi