According to the most recent Counterpoint Research study, the smartwatch market in India had a record-breaking Q2 with shipments that were four times more than they were at the same time last year. Strong consumer demand, several high-profile launches, and businesses' ongoing efforts to expand their online and physical presence are all contributing to the rising demand for smartwatches. An all-time high one-third of smartwatches were purchased offline. During that time, 50 new smartwatch models were introduced, and the sub-INR 3,500 ($44) price range accounted for 50% of all sales.
With a 28% market share advantage over competitors boAt and Noise throughout the previous year, Fire-Boltt was in first place. In order to reach more customers, the company extended its offline presence while maintaining strong online sales. Additionally, Fire-Boltt had the most product releases in Q2 and took the top spot for offline shipments.
Noise lost ground to the leader with a 26% market share but maintained a yearly sales rise of 293%. It produced 75% of the smartwatches produced locally, and 40% of those devices included Bluetooth calling. Noise took first place for internet shipments and second place for offline shipments.
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BoAt holds the third-place spot with a 19.5% market share. The company's Storm and Xtend models had the greatest sales, while the recently established TAGG and Defy sub-brands are also helping to boost shipments. With a 295% increase in annual growth and high sales of the Galaxy Watch4, Samsung moved up to fourth place, keeping Dizo in fifth.
Realme came in seventh, while Titan took sixth with a 2% market share. The Watch Series 7 is Apple's best-selling watch, with an anticipated 250,000 shipments in Q2. Apple is ranked ninth overall. Pebble is ranked ninth, while OnePlus completes the top-ten list with its well-liked OnePlus Watch, which was the market leader in the INR 10,000–15,000 price range.
Analysts at Counterpoint anticipate theIndian smartwatch market to remain highly competitive with the top-three positions open for grabs in the coming quarters.
