India’s smart wearables market grew rapidly in the first half of 2023. Per IDC’s latest numbers, the sector recorded a 53% year-over-year increase in sales.
Over 57.8 million smart wearables were shipped in 1H23 with smartwatches making a big jump in popularity, reaching 40% of the total share – up from 26.8% a year ago.
Let’s take a look at the numbers from the second quarter. A total of 32.8 million wearables shipped in Q2 – a growth of 37.2% year-over-year and 30.6% over Q1. Smartwatch shipments nearly doubled from 6.4 million in Q2 of 2022 to just under 12.8 million in Q2 of 2023. Earwear also saw a 15% increase year-over-year to nearly 20 million units shipped.
Breaking it down into brands, boAT led the wearables space in India with 26.6% – a 6.5% yearly growth. 77% of its share came from headphones – its truly wireless offerings lead competitors in market share with 35.3%. boAT also made an affordable Smart Ring.
Noise was second with 13.5% market share. It grew an impressive 61.6% over last year. Oppo and OnePlus retained third place with 9.5% of the market. The Bullet Wireless Z2 and TW Nord Buds 2 account for 75% of all shipments.