- Noise is the market leader in the first quarter of 2022 (January-March) with a share of 23%.
- Fire-Bolt took second place for the first time with a 21% share.
- boA took third place with 18% share and 106% growth on an annual basis.
- Dizo entered the top five for the first time.
- More than 10 brands entered this market in the first quarter of 2022, including Defy, Fastrack, Truke and Reebok.
- The retail price of 1000-2000 INR (13-27 dollars) reached its highest share of 14%.
India’s smartwatch market grew 173% year on year in the first quarter of 2022 (January-March), according to the latest Counterpoint IoT Service survey. This is due to the growing interest of consumers, the many launches during the quarter and the availability of various offers for discounts and promotions.
Commenting on market trends, Senior Research Analyst Anshika Jain said: “The contribution of the price range
As for brands, Jane said: “The top three brands took a 60% share in the first quarter of 2022. Noise leads the overall smartwatch market, driven by its value for money proposals, adding appropriate features to the product his portfolio and focus on the Make- Indian scheme. Fire-Bolt is emerging as the second largest player for the first time due to its focus on accessibility and the introduction of feature-rich products. Fire-Boltt has a good offline presence and focuses on many segments of smart watches such as fashion, lifestyle, fitness and luxury. boAt won third place. It also updated its portfolio in the first quarter of 2022 with five new models.
Commenting on the characteristics of the product, Research analyst Harshit Rastogi He said: “Brands are pushing for bigger displays that consumers are willing to accept. By pushing larger displays, brands are also attracting users of smart strips, as these strips have limited functionality due to the smaller displays. The contribution of> 1.5-inch smartwatches increased to more than half of the total smartwatch market from just 11% last year. In addition, some of the most sought after features such as SpO2 are already present at all price levels. Blood pressure monitoring as well as the voice assistant are lowered to lower price ranges to attract budget-conscious customers.
Regarding local production, Rastogi said: “Many brands have already started local production. We can see a major leap in the contribution of home appliances in the second half of 2022, especially from brands such as Noise, boAt and realme.
- noise deliveries doubled on an annual basis in the first quarter of 2022 due to the good performance of the newly introduced devices. Colorfit Pulse became the best-selling model for the brand.
- Fire-bott took second place for the first time with a 21% share. There were numerous launches during this quarter, with the Ninja Pro Max being its most popular device. In addition, 57% of his watches come with a Bluetooth calling feature.
- boat registered 106% growth on an annual basis and took third place. The Xtend and Storm models captured almost two-thirds of its total portfolio. This quarter, boAt released the Wave Pro 47, India’s first smartwatch made in India.
- Dizo took a place in the top five for the first time. The company unveiled an OLED display with its recently launched Watch R. The brand also expanded its offline presence this quarter.
- Samsung grew by 78% year on year in the first quarter of 2022. The Galaxy Watch 4 series made the biggest contribution here and higher deliveries this quarter thanks to promotional offers along with the Galaxy S22 Ultra smartphone.
- realme had a 3% share in the first quarter of 2022. The brand introduced its new Smartwatch S100, which was the main engine of the volume. We expect to see a portfolio renewal and supply growth in the near future soon. This is a well-established brand in both offline and online channels.
- Apple grew by 104% on an annual basis in the first quarter of 2022, with its 7 Series variants accounting for two-thirds of deliveries. He continued to lead in the premium segment (> 30,000 INR,> $ 400) with over 87% stake.
- Amazfit fell by 35% on an annual basis in the first quarter of 2022. GTS 2 Mini contributed more than 30% of its deliveries. S newer GTS Mini 2, we expect to regain some of its market share in the next quarter.
- Zebronics managed to maintain a position in the top ten. The company has released several available models on various online and offline platforms.
- OnePlus took first place in the range of retail prices of 10 000-15 000 INR (133-200 dollars) with about 45% share.
- Xiaomi registered a strong growth of 238% QoQ in the first quarter of 2022. Its newly introduced Redmi Watch 2 Lite is performing well in the market.