The report titled
“India
Consumer Wearables Market Outlook to 2025- By Type (Fitness Trackers and
Smart-watches), By Sales Channel (Online and Offline), By Price Segment (Under ₹
1000 ,₹1000
- ₹
10,000 , ₹10,000 - ₹ 20,000 and Above ₹
20,000) and By Sales Region (North, South East and West)” provides a comprehensive analysis on the status of the
wearables industry in India. The report covers various aspects including the
current sales revenue & market size, production scenario of wearables in
the country, target audience, growth facilitators, issues & challenges
faced by the industry, end-user analysis and more. The India Consumer Wearable
Market report concludes with projections for future of the industry including
forecasted sales volume & revenue by 2025, market segmentations, Covid-19
impact and analysts’ take on the future.
India Consumer Wearable Market
Overview and Size
The India Consumer Wearable industry has grown at a
CAGR of 32.0% on the basis of revenue over the period 2015-2020. The young
demographics and high disposable income in the country is one of the largest
growth drivers of the industry. Continuous investment in research &
development and marketing activities by the wearables manufacturers is
positively impacting the industry’s growth.
India Consumer Wearables Market
Segmentations
By Type of Wearables: Fitness trackers dominated the wearables
industry in India in 2020 on the basis of revenue. The adoption of wearables is
currently led by decrease in the price of fitness trackers. In addition to
being cheap, these devices now offer features which were once only available in
high end devices.
By Price Segment: Wearables between the price
category of ₹ 10,000- ₹ 20,000 will generate more
demand as disposable income of the individuals rises in the country. This will
be further fuelled by decline in prices of fitness bands and smart watches as
competition is expected to increase.
By Type of City: Owing to high levels of
pollution in the air and adulteration in the diet, residents of metro cities have
become more fitness conscious as compared to the residents in its counterpart.
As a result, these metro cities contribute higher proportion of sales revenue
in the fitness tracker market.
By Distribution Channel: Since majority of the sales
comes from Tier-1 and surrounding cities, the preferred channel of sales is
online. This is due to the fact, as residents in these regions are more
literate and find online medium as an easy platform to compare and buy
products.
Fitness Tracker Market
By Type: Wrist worn product dominated the
fitness tracker industry in India in 2020 on the basis of revenue. The adoption
of wearables is currently led by the ease to carry these devices as compared to
products like heart patches. In addition, the falling prices of these products
are fuelling its sales.
By Price Segment: Fitness trackers between the
price category of ₹ 1,000- ₹ 10,000 generate more demand
as products in this category offer more
features as compared to other price segments. Although there is a difference of
quality, majority of the branded companies are present in this price spectrum,
adding to the growth of the market.
By Region: Sothern India accounts for
most sales of fitness trackers in India. This is mainly due to the fact that
South India has more number of Tier1 and metro cities as compared to the other
regions of India. Also, the literacy level is high due to which the individuals
in the region are comfortable in using technology.
By Distribution Channel: With increase in focus on
non-metro cities the companies are using online channels to penetrate the area.
As a result online sales are increasing. As the brand awareness in the country
is on the rise customers with no access to offline retail stores are making
online purchases. As a result the online sales for these devices are increasing.
Smartwatch Market
By Type: Since the numbers of IOT devices
are increasing, consumers prefer to use touch interactive Smartwatch to control
other devices. As a result, there has been a sluggish growth in sales of hybrid
watches.
By Price Segment: Smart watches between the
price category of above ₹ 20,000 generate more demand as
products in this are from high end manufacturers such as Apple, Samsung etc.
This is mainly due to the fact that as the disposable income is rising, people
are preferring quality over price.
By Distribution Channel: Smart watches are usually bought
via online channel and it is expected that this trend would continue in future
as more consumers prefer to shop online due to the current situation of
COVID-19 and because of various promotional discounts offered by the online
platforms to boost sales.
Key
Segments Covered:-
India
Consumer Wearables Market
By Type
Fitness
Trackers
Smartwatch
By Price Segment
Under
₹1000
₹1000
- ₹10,000
₹10,000
- ₹20,000
Above
₹
20,000
By Distribution Channel
Online
Offline
By Region
North
East
West
South
By Type of City
Metro
Non-Metro
India
Smartwatch Market
By Type
General
Purpose Smartwatch
Sports
Smartwatch
Hybrid
Smartwatch
By Price Segment
Under
₹1000
₹1000
- ₹10,000
₹10,000
- ₹20,000
Above
₹
20,000
By Distribution
Channel
Online
Offline
By Region
North
East
West
South
By Type of City
Metro
Non-Metro
India
Fitness Trackers Market:-
By Type of
Wearables
Wrist
Worn
Others
By Price Segment
Under
₹1000
₹1000
- ₹10,000
₹10,000
- ₹20,000
Above
₹
20,000
By Distribution
Channel
Online
Offline
By Region
North
East
West
South
By Type of City
Metro
Non-Metro
Companies Covered:-
Xiaomi Technologies India Inc.
Goqii Technologies India Inc.
Samsung India Electronics Ltd.
Fitbit India
Apple India
Titan Company India Ltd. (Fastrack)
Fossil India Inc
Key Target Audience:-
Wearables Manufacturing Companies
Wearables Importing Companies
Semiconductor Manufacturing Companies
E-Commerce Companies
Healthcare Associations
Industry Associations
Regulatory Bodies
Time Period Captured in the Report:-
Historical
Period: 2015-2020
Forecast
Period: 2020-2025
Key
Topics Covered in the Report:-
Overview and Genesis of India Consumer Wearable
Industry
Target Addressable Market for End Users
Trends and Growth Drivers in the Industry and
Challenges Faced
India Consumer Wearables Market Size and
Segmentations, 2014 - 2019
Ecosystem and Value Chain of India Consumer Wearables
Industry
Customer Decision Making Parameters
Cross Comparison between Major Players and Detailed
Company Profiles & Product Portfolios
Future Market Size and Segmentations, 2020-2025F
Covid-19 Impact on the Industry & the Way Forward
Analysts’ Recommendations
For
More Information on the research report, refer to below link:-
India Consumer Wearables Market
Related Reports:-
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