Technology-enabled wearable devices are gaining momentum in India and its segment will emerge as a dominant one in the Indian consumer electronics market. Fitness monitors, smart watches, and internet-enabled eyeglasses are the various types of wearable devices available in the Indian market.
India is a growing market for wearable device products. The introduction and availability of next generation cellular networks, and their improved connectivity are factors boosting the growth of the market. Indian start-ups are introducing various innovative products like GPS-enabled smart sports shoes, and multi-function Bluetooth devices that work as camera triggers and alerts while in motion, among others. The players are also heavily focusing on developing wearable devices with advanced features and applications that provide an enhanced digital experience.
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The India wearables device market has players such as Goqii, Xioami, Fitbit, Garmin, Huawei, and others. Goqii holds the largest share of the market. Some of the other players with significant market shares in the category are Xioami, Fitbit, Garmin, and Huawei.
Key growth factors:
o In the last few years, Indian consumers have shown increased interest in wearable devices like smartwatches, fitness trackers, and fitness monitors, among others. People these days are more aware of the wearable devices and the applications that help in making daily life easy. Increased disposable income and awareness among Indian consumers are stimulating the growth of wearable devices market in India.
o The increased availability of 4G and WiFi networks is fuelling the adoption of wearable devices across the country. India is one of the fastest growing economies that is embracing 4G networks, and this is expected to trigger the growth of wearable technology and the devices market.
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Threats and key players:
o The biggest factor deterring the growth of the wearable devices market in India is that it is too expensive. The iOS and Android applications can act as substitutes for the technology since many applications currently use smartphone sensors to track classic wearable metrics like steps taken, and heart rate, among others
o Apple India Pvt. Ltd., Google India Pvt. Ltd., Intel Technology India Pvt. Ltd., Microsoft Corporation (India) Pvt. Ltd., Nike India Pvt. Ltd., and Samsung India Electronics Pvt. Ltd., are some of the major players operating in the Indian wearable device market
What’s covered in the report?
- Overview of the India wearable devices market
2. Historical, current and forecasted market size data of the India wearable devices market (2014 to 2023)
3. Qualitative analysis of the India wearable devices market and its segments (based on players – Goqii, Xioami, Fitbit, Garmin, Huawei, and others, by price – less than USD 50 segment, and others)
4. Qualitative analysis of the major drivers and challenges affecting the market
5. Analysis of the competitive landscape and profiles of major players operating in the market
6. Key market trends of the wearable devices market in India
7. Analysis of various Indian start-ups operating in the wearable devices market
8. Key recent developments associated with the wearable devices market in India
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This post was originally published on Analytics News