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The <\/span>Indian wearables market<\/a> witnessed a decline of 11.3% in 2024, with overall shipments dropping to 119 million units compared to 134.1 million units in 2023. While the smartwatch segment faced a significant downturn, the earwear and smart ring categories showed resilience, with notable growth. Despite the decline, homegrown brand boAt maintained its dominance in the market, leading in the true wireless stereo (TWS) earbuds segment while securing third place in smartwatches.<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Smartwatch shipments fell by <\/span>29.4% in 2024, with only <\/span>35 million units shipped compared to <\/span>53.3 million in 2023.<\/span><\/p>\n \u00a0<\/p>\n The <\/span>average selling price (ASP) of smartwatches also saw a drop from <\/span>$25.8 (Rs 2,241.5 approx.) in 2023 to $23.5 (Rs 2,041.7 approx.) in 2024.<\/span><\/p>\n \u00a0<\/p>\n Noise emerged as the leader in the smartwatch category, increasing its market share to <\/span>25.2% from <\/span>22.1% in 2023.<\/span><\/p>\n \u00a0<\/p>\n Fire-Boltt<\/a> and boAt followed in the second and third spots, although both brands experienced a decline in market share.<\/span><\/p>\n \u00a0<\/p>\n Unlike smartwatches, <\/span>earwear shipments grew by 3.8% in 2024, with <\/span>83.5 million units shipped compared to <\/span>80.4 million in 2023.<\/span><\/p>\n \u00a0<\/p>\n The <\/span>TWS earbuds segment continued its dominance, rising from <\/span>67.2% market share in 2023 to 70.9% in 2024.<\/span><\/p>\n \u00a0<\/p>\n boAt<\/a> retained its leadership in the TWS segment, increasing its market share from <\/span>33.9% in 2023 to 34.2% in 2024.<\/span><\/p>\n \u00a0<\/p>\n Boult and Noise secured the second and third positions, respectively, both witnessing growth in market share.<\/span><\/p>\n \u00a0<\/p>\n The <\/span>smart ring market continued to expand, with <\/span>shipments reaching 3.23 lakh units in 2024, up from <\/span>1.13 lakh units in 2023.<\/span><\/p>\n \u00a0<\/p>\n Ultrahuman led the market with a <\/span>40.1% share, followed by <\/span>Pi with 20.4%.<\/span><\/p>\n \u00a0<\/p>\n boAt captured the largest share of the Indian wearables market<\/a>, maintaining its position as the leading brand.<\/span><\/p>\n \u00a0<\/p>\n Noise<\/a> ranked second with a 12.2% market share, while <\/span>Boult<\/a> followed in third place with 8.6%.<\/span><\/p>\n \u00a0<\/p>\n Offline sales saw a 7.2% increase, reaching <\/span>37.8% market share in 2024, compared to <\/span>31.3% in 2023.<\/span><\/p>\n \u00a0<\/p>\n Online sales declined by 19.7% year-on-year, indicating a shift in consumer purchasing behavior.<\/span><\/p>\n \u00a0<\/p>\n The Indian wearables market faced a slowdown in 2024, primarily due to a steep decline in smartwatch shipments. However, the steady growth of earwear and the rising popularity of smart rings indicate a shift in consumer demand. While boAt continues to lead the market, brands like Noise and Boult are gaining traction. The shift towards offline retail also highlights evolving consumer preferences, making the wearables segment a dynamic and competitive space for the future.<\/span><\/p>\n \u00a0<\/p>\n Source @ idc<\/strong><\/a><\/p>\n \u00a0<\/p>\n Follow Before You Take<\/span><\/a> on <\/span>Facebook<\/span><\/a> | <\/span>Twitter<\/span><\/a> | <\/span>WhatsApp Channel<\/span><\/a> | <\/span>Instagram<\/span><\/a> | <\/span>Telegram<\/span><\/a> | <\/span>Threads<\/span><\/a> | <\/span>LinkedIn<\/span><\/a>, For the <\/span>Latest Technology News & Updates<\/span><\/a> | <\/span>Latest Electric Vehicles News<\/a> | <\/span>Electronics News<\/a> | Mobiles News<\/a> | Software Updates<\/a><\/p>\n The post Indian Wearables Market Shrinks by 11.3% in 2024, boAt Leads TWS Segment While Smartwatch Shipments Plummet: IDC Report<\/a> appeared first on Before You Take<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" \u00a0 The Indian wearables market witnessed a decline of 11.3% in 2024, with overall shipments dropping to 119 million units compared to 134.1 million units in 2023. While the smartwatch segment faced a significant downturn, the earwear and smart ring categories showed resilience, Continue reading Indian Wearables Market Shrinks by 11.3% in 2024, boAt Leads TWS Segment While Smartwatch Shipments Plummet: IDC Report<\/span>Key Findings from the IDC Report<\/a><\/h3>\n
Smartwatch Market Faces Major Decline<\/h3>\n
Earwear Shipments Show Positive Growth<\/h2>\n
Smart Rings Gain Popularity<\/h3>\n
boAt Retains Overall Market Leadership<\/h3>\n
Shift in Sales Channels<\/h3>\n
Conclusion<\/h1>\n