India Consumer Wearables Market Overview
According to SPER Market Research, the India Consumer Wearables Market is estimated to reach USD xx billion by 2032 with a CAGR of xx%.
Based on revenue, the Consumer Wearables market in India expanded. One of the main factors driving the industry's growth is the young population and high level of disposable money in the nation. The expansion of the wearables sector is being positively impacted by manufacturers' ongoing investments in R&D and marketing initiatives.
According to research firm International Data Corporation India, the wearables market in India experienced record-breaking double-digit growth. The smartphone market in India experienced a dip in the same period and for the third consecutive quarter, according to IDC's earlier analysis, but wearables continued to rise in that country. Anisha Dumbre, Senior Market Analyst, Client Devices, IDC India, stated that "aggressive discounts, new features, and a strong push from brands and channel partners are encouraging customers to upgrade and spend more on wearable watches."
Impact of COVID-19 on the India Consumer Wearables Market
Massive disruptions have been caused by the Covid-19 virus's global epidemic across all industries, particularly those that depend on imports, particularly those from China. India is the third worst-affected country worldwide by Covid-19, behind the US and Brazil. The lockdown that was imposed has caused businesses, factories, and other industries to close, which has hurt the Indian economy. Due to falling imports, both the consumer electronics and wearables industries were impacted. According to industry statistics, following eight consecutive quarters of growth, the volumes had their first consecutive dip as shipments decreased. This reduction was brought on by supply shortages coming from China as a result of the March nationwide lockdown. The demand for premium wearables in the nation has been impacted by the country's enforced lockdown and social segregation practices. Individual’s reduced physical activity as a result of the epidemic and the lockout on gyms also contributed to the decline in fitness tracker sales.
In the coming years, it's anticipated that the sector will experience a steady rebound and sales volume will return to pre-Covid levels. The majority of wearable sales in the nation are currently made online through e-commerce platforms, online marketplaces, and official online stores. In the long run, wearable manufacturers are anticipated to move toward these online sales channels. In the future, customers' preferred methods of shopping are anticipated to be dominated by online shopping as a result of the Covid-19 epidemic. Strategic alliances with independent and franchised fitness centers, insurance providers, and other industry participants are anticipated to help the market recover and increase wearable sales volume in the future.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Price Segment, By Distribution Channel, By Type of City
|
| Regions covered | East, North, South, West
|
| Companies Covered | Apple India, Fitbit India, Fossil India Inc, Goqii Technologies India Inc., Samsung India Electronics Ltd., Titan Company India Ltd., Xiaomi Technologies India Inc.
|
Target Audience-
- E-Commerce Companies
- Healthcare Associations
- Industry Associations
- Regulatory Bodies
- Semiconductor Manufacturing Companies
- Wearables Importing Companies
- Wearables Manufacturing Companies
India Consumer Wearables Market Segmentation:
1. By Type:
- Fitness Trackers
- Smartwatch
2. By Price Segment:
- Under ₹1000
- ₹1000 - ₹10,000
- ₹10,000 - ₹20,000
- Above ₹20,000
3. By Distribution Channel:
4. By Type of City:
5. By Region:
Key Topics Covered in the Report:
- Size of India Consumer Wearables Market (FY’2019-FY’2032)
- Overview of India Consumer Wearables Market
- Segmentation of India Consumer Wearables By Type (Fitness Trackers, Smartwatch)
- Segmentation of India Consumer Wearables Market By Price Segment (Under ₹1000, ₹1000 - ₹10,000, ₹10,000 - ₹20,000, Above ₹20,000)
- Segmentation of India Consumer Wearables Market By Distribution Channel (Offline, Online)
- Segmentation of India Consumer Wearables Market By Type of City (Metro, Non-Metro)
- Statistical Snap of India Consumer Wearables Market
- Growth Analysis of India Consumer Wearables Market
- Problems and Challenges in India Consumer Wearables Market
- Competitive Landscape in the India Consumer Wearables Market
- Impact of COVID-19 and Demonetization on India Consumer Wearables Market
- Details on Recent Investment in India Consumer Wearables Market
- Competitive Analysis of India Consumer Wearables Market
- Major Players in the India Consumer Wearables Market
- SWOT Analysis of India Consumer Wearables Market
- India Consumer Wearables Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the India Consumer Wearables Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 India Consumer Wearables Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in India Consumer Wearables Market
7. India Consumer Wearables Market, By Type, 2019-2032 (USD Million)
7.1 Fitness Trackers
7.1.1 Wrist Worn
7.1.2 Others
7.2 Smartwatch
7.2.1 General Purpose Smartwatch
7.2.2 Hybrid Smartwatch
7.2.3 Sports Smartwatch
8. India Consumer Wearables Market, By Price Segment, 2019-2032 (USD Million)
8.1 Under ₹1000
8.2 ₹1000 - ₹10,000
8.3 ₹10,000 - ₹20,000
8.4 Above ₹20,000
9. India Consumer Wearables Market, By Distribution Channel, 2019-2032 (USD Million)
9.1 Offline
9.2 Online
10. India Consumer Wearables Market, By Type of City, 2019-2032 (USD Million)
10.1 Metro
10.2 Non-Metro
11. India Consumer Wearables Market, By Region, 2019-2032 (USD Million)
11.1 India Consumer Wearables Size and Market Share by Region (2019-2025)
11.2 India Consumer Wearables Size and Market Share by Region (2026-2032)
11.3 East
11.4 North
11.5 South
11.6 West
12. Company Profiles
12.1 Apple India
12.1.1 Company details
12.1.2 Financial outlook
12.1.3 Product summary
12.1.4 Recent developments
12.2 Fitbit India
12.2.1 Company details
12.2.2 Financial outlook
12.2.3 Product summary
12.2.4 Recent developments
12.3 Fossil India Inc
12.3.1 Company details
12.3.2 Financial outlook
12.3.3 Product summary
12.3.4 Recent developments
12.4 Goqii Technologies India Inc.
12.4.1 Company details
12.4.2 Financial outlook
12.4.3 Product summary
12.4.4 Recent developments
12.5 Samsung India Electronics Ltd.
12.5.1 Company details
12.5.2 Financial outlook
12.5.3 Product summary
12.5.4 Recent developments
12.6 Titan Company India Ltd.
12.6.1 Company details
12.6.2 Financial outlook
12.6.3 Product summary
12.6.4 Recent developments
12.7 Xiaomi Technologies India Inc.
12.7.1 Company details
12.7.2 Financial outlook
12.7.3 Product summary
12.7.4 Recent developments
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
