Increasing Smartphone penetration, growing consumer demand and technological advancements in the wearable segment are expected to increase the growth of India Smartwatch Market. Additionally, recent entry of international players will further assist the growth of Smartwatch Market in the country.
According to 6Wresearch, India Smartwatch Market shipments value reached around $2.37 million in CY H1 2015. Some of the major players in the market are Motorola, Samsung, Sony, LG and Kenxingda. New entrants in the market include Dot, a new Smartwatch for blind consumers which delivers texts in beautiful rippling bursts of braille.
Key Highlights (CY H1 2015)
- More than 10 vendors shipped Smartwatch devices
- Motorola, Samsung and Sony together captured around 30% of the total market share
- In the OS segment, Android Smartwatches registered lion share of the market
According to Anuj Mehrotra (Senior Research Analyst, 6Wresearch-India Electronics Division), “ Increasing demand for technologically advanced electronic gadgets among the consumers coupled with rising disposable income have resulted in the growing popularity of Smartwatch devices in the country. Additionally, benefits such as ease of use, mobility and robust fitness-tracking have emerged as the major selling points in the Smartwatch market.”
According to Pulkit Shrivastava (Research Analyst, 6Wresearch-India Electronics Division), “Over the last few quarters, major players have launched their second generation products combining advanced mobile technology and tracking capabilities with a digital watch. However, India Smartwatch Market is still struggling to make its mark owing to high ownership cost.”
India Smartwatch market has been facing certain challenges such as high ownership cost and lack of consumer adaptation. OEM’s need to overcome this hurdle through offering Smartwatches which better suit consumer preferences and provide advanced technology at affordable prices.
India Smartwatch Competitive Tracker provides in depth analysis offering insights on market share by companies, shipments, value and specification. The tracker covers high-tech multimedia watches and does not include health wrist bands.