India Now the Biggest Smartwatch Market in the World
Nov. 30, 2022Affordable Smartwatches Led Market Globally
It is highlighted that the overall smartwatch market globally was driven by basic smartwatches with a YoY growth of 35%. This segment sawNoise in the first position with a share of 25.2% in India(it got the third position globally), followed by Fire-Boltt with a market share of 24.6%. boAt came third with a share of 16.8%, Xiaomi came fourth with a share of 4.2%, and Huawei stood in the fifth spot with a 3.2% share.
As for the HLOS smartwatches (the ones that run the high-level OS),Apple contributed to 56% of the overall shipments. It also saw YoY growth of 48%. Samsung had a share of 22.3% and came second. This was followed by Amazfit (7.1%), Huawei (6.4%), and Garmin (4.5%).
The report further highlights that China saw a 28% YoY decline due to the “zero-COVID policy and the subsequent economic downturn.” So, what are your thoughts on this? Let us know in the comments below.
Started off as a stranger but tech is more like a good friend, thanks to over 5 years in the industry. While everything is attractive about tech, phones, social media, and quirky gadgets attract me the most. When not working, I find my solace in shopping and everything that concerns doggos!
