India’s wearable wristband market — comprising of exercise trackers and smartwatches — has nearly doubled shipments within the July-September interval. As per international analysis agency Canalys, from shut to eight,00,000 items within the quarter ended September 2018, the wearable bands business in India noticed shipments of near 1.5 million items within the quarter ended September 2019 — up nearly 86%. India’s wearable band market is closely pushed by exercise trackers, Canalys mentioned.
Worldwide Knowledge Company (IDC) estimates exhibits that the wristband marketplace for the September 2019 quarter stands at 1.2 million items — a year-on-year development of 69%. The entry of extra manufacturers within the class has introduced down the common promoting value by nearly 10% from earlier quarters, and additional cemented India’s place because the third-largest wearables market on the planet after China and US, IDC mentioned.
Much like smartphones, the Indian wearable bands section is seeing Chinese language domination with the likes of Xiaomi and Huawei holding nearly 60% Share between them, beating specialists like Fitbit that holds simply round 5% Share. As per Canalys, Xiaomi led the Indian wearable wristband market with 42% Share in July-September 2019. Fitbit, Huawei, Huami, Apple, and Samsung, are different gamers within the house.
“Xiaomi continues to steer the Indian market and is helped by a mix of low value and constructive model fairness. India stays Xiaomi’s second-largest marketplace for Mi bands outdoors China,” Vincent Thielke, analysis analyst, Canalys, mentioned. Because the market chief in Indian smartphones, it’s simpler for Xiaomi to leverage present channel relationships for its wearables enterprise, he added. IDC affiliate analysis supervisor Jaipal Singh says whereas Fitbit continues to carry a premium for its gadget high quality and specs, it has been caught unawares in India by aggressive advertising and pricing of opponents like Xiaomi, which can also be capable of match key specs.
The Mi Good Band four has a touch-enabled color AMOLED show, swim monitoring, music management, and different specs which can be upgraded to the earlier model Mi Good Band 3i, which was particularly made for India, a Xiaomi spokesperson mentioned. Globally, Xiaomi remained in prime place delivery 12.2 million wearable bands posting 74% year-on-year development. Fitbit’s exercise trackers proceed to wrestle, because of fewer shipments in North America, the place market is shifting to smartwatches from exercise trackers. Analysts mentioned it stays to be seen if the current acquisition by Google will assist Fitbit chart a turnaround technique.