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
Fitness Trackers
Smartwatch
By Price Segment
Under ₹1000
₹1000 - ₹10,000
₹10,000 - ₹20,000
Above ₹ 20,000
Under ₹1000
₹1000 - ₹10,000
₹10,000 - ₹20,000
Above ₹ 20,000
By Distribution
Channel
Online
Offline
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:-
Related Reports:-
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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