India’s wearable market has been growing at an astounding pace, with a year-over-year growth rate of 80.9% in the first quarter of 2023, as per the IDC report. While popular brands like OnePlus, Oppo, and Samsung lag behind, the home-grown brand BoAT has managed to clinch the top spot in terms of sales. Let’s take a closer look at the details.

Impressive Growth in India’s Wearable Market

The IDC report suggests that India’s wearable market shipped 25.1 million units in the first quarter of 2023, maintaining the same numbers as the previous quarter, but a significant increase from the same period last year. Smartwatches and hearables experienced considerable growth, with a 41.4% share and 48.5% YoY growth, respectively.

BoAT is Ahead of the Pack with a 25.6% Market Share

BoAT has emerged as the leader in the Indian wearable market with a whopping 25.6% share. The home-grown brand has witnessed a staggering 102.4% YoY growth, thanks to its dominance in the TWS segment. BoAT has a massive 30.6% share in the TWS segment, showing an impressive 81.9% YoY increase.

Fire-Bolt at Second Place

Following BoAT, Fire-Bolt secures the second spot in the Indian wearable market, with a 12.4% share in 1Q23.

Oppo and OnePlus Trail Behind

Big names like Oppo and OnePlus have a 4.7% share in the wearable market, occupying the fifth position. However, their shipments have declined by -5.8% in 1Q23. Samsung, on the other hand, is nowhere in sight, which could be due to the brand’s relatively expensive lineup of wearables.

Conclusion

BoAT’s impressive growth and top spot in the Indian wearable market is a testament to the brand’s focus on the TWS segment. While the market continues to grow, popular brands will need to keep up with the pace of BoAT to stay relevant in the Indian wearable market.