Overview:
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.
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Published Date: May 2024
Overview:
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.
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Number of Pages: 26
Published Date: May 2024
Comments:
The global smartwatch market declined 2% YoY. The reduction was driven by a decline in global brands like Apple and Samsung and low shipment volumes by Indian brands including Fire Boltt and boAt due to high inventory levels. However, Chinese brands including Huawei, Xiaomi, BBK (Imoo) and Honor observed growth. By region, India, MEA, and China region shipments grew by 3%, 3%, and 15% respectively. North America observed the largest YoY decline of 19% among all the regions, followed by LATAM, EU and Rest of AP. By type, Basic Smartwatches observed a 3% YoY.
Comments:
The global HLOS smartwatch witnessed a 2% YoY decline in quarterly shipments. Under HLOS, Huawei, Garmin, and Xiaomi experienced a YoY increase of 78%, 30%, and 107% respectively. Apple declined 20% YoY and Samsung also had a 2% decline in shipment units. By region, China continued to drive the growth of the HLOS smartwatch market, fueled by the Huawei GT 4, GT 3 series, and Watch 4 series along with the good performance of Apple S9.
Overview:
India smartwatch market grew 41% YoY in Q4 2023, led by Fire-Boltt with 30% market share and followed by Noise and boAt. While aforementioned OEMs drove the growth, newer OEMs like Fastrack, BeatXP, Boult supplemented the growth. The market saw over 60 active smartwatch OEMs in Q4 and over 380 active SKUs. This report analyses the shipments of smartwatches at model level and splitting them by ASPs, price bands, revenues along with channel split and all major specs.
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Published Date: March 2024
Overview:
The global TWS market shrank 1.1% YoY to 308 million units in 2023, as macroeconomic headwinds and consumer weakness continued to pressure the industry throughout the year. However, we have seen momentum moving quickly toward recovery in H2 2023, with Q4 2023 consolidating the expected recovery in 2024. The TWS market reached 83 million units in Q4 2023, growing 2.3% YoY and turning back to growth stage. Apple retained the top spot, but its unit share dropped below 20% with 17.9 sales units in Q4 2023. Asia market led the growth with almost half of the unit share in 2023.
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Number of Pages: 5
Published Date: March 2024
Overview:
India’s TWS market shipments registered 34% YoY growth in 2023, according to the latest research from Counterpoint’s IoT Service. The increasing adoption of TWS devices drove the growth due to ease of use and availability of a wide range of options at an affordable price point. This report analyses the shipments of TWS splitting them into ASPs, price bands, and revenues along with channel split. It also includes model and specs level analysis.
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Publishing Date: March 2024
India’s TWS market continued to grow in 2024 as well. Entry of new brands, adoption of new technology, fast-growing consumer adoption towards personal audio devices, and skyrocketing domestic manufacturing of TWS shipments will drive more volume in this new year. This report shows the analysis and key insights of the TWS market players, strategies, outlook and future opportunities. Additionally, it covers recent developments and trends in 2024.
Published Date: March 2024
Overview:
Global TWS sales in Q4 2023 increased 2.3% YoY to 83 million units, while the revenue declined 18% YoY. North America experienced a slight growth, but other regions experienced YoY declines except China market, which started to recover. Apple’s sales decreased 21% YoY and its revenue declined 30% YoY due to the absence of new model launches. The sub-$100 segment’s share increased by 16% YoY to take up 63% of the entire market, and the popularity of affordable models led to the widening of the gap between the sub-$100 and $100 and above segments. Growth in India and China’s TWS markets also contributed to this widening of the gap between the sub-$100 and $100 and above segments.
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Key Takeaways
Number of Pages: 14
Published Date: February 2024
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