India smartwatch market remained flat in in Q1 2024, Fire-Boltt led the market with 28% market share and followed by Noise and boAt. The top three players declined dropping their combined market share from 77% to 66% YoY in Q1 2024. Fastrack (along with Titan) and BeatXP registered higher growth and captured further market share. The ASP declined by 16% YoY as competition intensified in the entry-level segment.
India’s Neckband market is declining, driven by adoption of TWS devices. In Q1 2024, the market fell 8% YoY. The demand for neckbands in the Indian market is due to more affordable prices, longer battery life and suitability for daily applications like running, working and travelling. boAt maintained its leadership position with a 20% market share, however, its shipments declined 21% YoY in Q1 2024. Rockerz 255 Pro Plus and Rockerz 195 V2 Pro were the top-selling neckband devices for boAt. Varni is a new entrant in the top 5 due to multiple launches in the affordable segment. We expect the market to continue to decline due to TWS adoption and the availability of a wider variety of options in TWS devices.
India’s True Wireless Stereo (TWS) earbuds shipments grew 38% YoY in Q1 2024, according to the latest research from Counterpoint’s IoT Service. The growth in TWS devices is attributed to their ease of use and wide range of affordable options. Consumers increasingly use these devices for various activities such as commuting, working, exercising, and gaming due to their evolving use cases. The rapid shift towards domestic manufacturing, competitive offers, and enhancements in design and sound quality have accelerated the adoption of this technology.
This report forecasts India smartwatch market quarterly for 2024 and annually from 2024-2028. The report forecasts data by key OEMs in the India Market like Noise, Fire-Boltt, boAt, Fastrack etc. Further forecast by retail price bands (in INR) for shipments, retail ASP and revenue.
Global smartwatch shipments fell by 2% YoY to reach 32.2 million units. This decline seemed to be due to a slowdown in the growth of the basic smartwatch market, which had been growing steadily thanks to the rise of local Indian brands. Besides, the HLOS smartwatch market, represented by the Apple Watch and Samsung Galaxy Watch, also contributed to this trend.
India’s smart TV shipments declined 14% YoY in Q1 2024, according to the latest research from Counterpoint’s IoT Service. The decline was attributed to muted demand from consumers, an increase in the cost of inputs like raw materials, which led to a reduction in offers and promotions, excess inventory build-up at major OEMs, and reduced demand for smaller-screen smart TVs.
Key Takeaways:
India’s smart TV shipments fell 14% YoY in Q1 due to a slowdown in demand and an inventory build-up at major OEMs.
Samsung became the leading player for the first time after overtaking Xiaomi.
Smart TV shipments for the 55” and above screen size rose 23% YoY in Q1, making it the only segment to show growth.
QLED smart TV shipments increased by 182% YoY in Q1 2024.
The market is likely to decline by 10% in 2024 due to reduced demand for small-screen TVs.
This Global Smart Devices market tracker comprises all Wi-Fi-enabled devices used in smart homes along with smart wearables. The overall smart device shipments remained almost flat with a 1% YoY decline in Q1 2024. Smart lights, Vehicles, and Cellular CPEs witnessed double-digit YoY growth. In addition, categories like STB, Consumer Routers, Smartwatch and Smart Speakers declined year on year. Out of the total segments, over 62% of the market was taken by Consumer Routers, Set Top Boxes, Smart TV, Laptops, Smart Lights, Tablets and Smartwatches. In this report, we have analyzed the smart devices market in detail by segments covering quarterly shipments by brand from Q1 2021 to Q1 2024 along with the key reasons and drivers for growth.
Table of Contents:
Definitions
Methodology
Key Market Drivers by Segment
Smart Devices Shipments by Brand (2021 Q1 – 2024 Q1)
Smart TV shipments declined by 14% YoY in Q1 2024, because of reduced consumer demand and an inventory buildup issue among the OEMs. The shipments of 4K smart TVs increased by 10% YoY and constituted nearly 60% of the total shipments during the quarter. 32” smart TV continued to lead the market, but its share is decreasing as it is being replaced by 43”, whereas the share of bigger screen size smart TVs of 55” and above is increasing. Online channel share was 35% during the quarter, due to reduced demand during the period. Samsung became the leading player for the first time, followed by LG, whereas Xiaomi slipped to third position. This report analyses the shipments of TVs splitting them into ASPs, price bands, and revenues along with channel and category split. It also includes model and specs level analysis.
Text-to-video AI is a cutting-edge suite of technologies designed to generate dynamic, temporally coherent videos from textual prompts. This innovation has the potential to significantly impact various industries, including advertising, marketing, filmmaking, and social media, by providing a new medium for creative expression and communication. The report examines the diverse architectures employed in text-to-video AI and explores the competitive landscape among key technology providers, such as Sora, W.A.L.T, Emu, and Stable Diffusion.
Over the past year, there have been rapid breakthroughs in this field, although it is anticipated that it will take at least 2 to 3 more years for text-to-video AI to fully mature. Despite its promising potential, the industry faces several significant challenges, including the need for substantial computational resources, ensuring high-quality output, and addressing ethical concerns. This report delves into these issues, providing a comprehensive overview of the current state and future prospects of text-to-video AI technology.
Table of Contents:
Background
What is Text-to-Video AI?
Top 5 Impacted Industries
Other Impacted Industrial Players
AI PC/AI Smartphone Maker
Mobile Operators
The Architectures
Diffusion Model
Transformer Model
Competitive Landscape with Key Technology Providers
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