The craze of smartwatches in India is increasing day by day. Many brands have entered this segment with their cheap to expensive models. If you too are planning to buy a smartwatch but are confused which brand to choose, then this report can be useful for you. In this report, information will be given about which brand of smartwatches Indians are buying the most. So let’s start…
According to Counterpoint data, India’s smartwatch market grew by 173 percent annually in Q1 2022. Smartwatch maker Noise led the market with a 23 percent market share in the first quarter. The Fire-Boltt came in second for the first time with a market share of 21 percent. Boat ranked third with a market share of 16 per cent. Dizo entered the top-5 for the first time in the first quarter of 2022. Notably, more than ten brands including Defy, Fastrack, Truke and Reebok entered the market in the first quarter. Amazfit declined 35 percent year-on-year in the first quarter of 2022.
This model of the most sold noise
The top three brands – Noise, Fire-Bolt and Boat – had a market share of 60 per cent. According to Counterpoint data, Noise managed to grab the first position with a market share of 23 per cent with its value for money offerings, emphasis on Make-in-India skin as well as adding relevant features to its product portfolio. The Colorfit Pulse was the best selling model of Noise.
Best Selling Models of Fire-bolts and Boats
For the first time ever, Fire-bolt came in second place by bringing in affordable and feature-packed products. The smartwatch brand managed to grab 21 percent of the market share, targeting multiple smartwatch segments such as fashion, lifestyle, fitness and luxury. The best selling model of the brand was the Ninja Pro Max. Bot, which came in third place with 16 per cent market share, updated its portfolio with five new smartwatch models in the first quarter of the year. The Xtend and Storm models account for about two-thirds of Boat’s total portfolio.
Dijo made it to the top-5 for the first time. Dizo increased its offline presence in the first quarter with the introduction of OLED display with its Watch R.
what price watch is selling best
The retail price band of Rs 1,000 to Rs 2,000 also garnered a bigger market share of 14 per cent as compared to 2 per cent a year ago. The market share of wearables under the Rs 5,000 retail price band increased from 78 per cent to 87 per cent. OnePlus grabbed the first position in the Rs 10,000 to Rs 15,000 price band with a market share of 45 per cent. Apple’s wearables continue to be the leader in the premium smartwatch segment, i.e. wearables priced above Rs 30,000, with over 87 per cent market share.
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These features attracted people the most
Talking about the features of wearables, Research Analyst Harshit Rastogi said, “Brands are emphasizing on larger displays, which are easily accepted by consumers. By pushing for larger displays, brands can also attract smart band users. These bands have limited functionality due to small displays. 1.5-inch smartwatches account for more than half of the overall smartwatch market, up from just 11 percent last year. Plus, some of the most sought-after features like SpO2 are now Available at all price levels. Blood pressure monitoring as well as voice assistants are working in a lower price band to attract budget-conscious customers.”
10+ new brands entered the market
More than ten brands including Defy, Fastrack, Truk and Reebok entered the Indian smartwatch market in the first quarter.
Here are the popular models of Apple-Samsung
Other major smartwatch makers including Samsung, Apple, Xiaomi and Realme also posted growth during the first quarter. Samsung is up 78 percent year-on-year. The Galaxy Watch 4 series has become Samsung’s best-selling watch. Apple grew by 104 percent, with the Series 7 variant serving as the key volume driver.
Know the condition of Xiaomi-Realme and Zebronics
Xiaomi registered a growth of 238 percent in the first quarter of 2022. Redmi Watch 2 Lite is selling fast in the market. Reality’s market share was also 3 percent. Smartwatch S100 became the best-selling smartwatch for the TechLife brand of Reality.
While Zebronics maintained its position in the top ten, Amazfit’s market share declined 35 percent year-on-year in the first quarter.
(cover photo credit- Twitter/Geekman)