Indian smartwatch market grew 171 per cent in Q3 this year compare to same period previous year to become the biggest smartwatch market globally.
The Indian smartwatch market grew 171% year-on-year in the third quarter of this year, making it the largest smartwatch market in the world.
India has become the world's largest smartwatch market with record holiday sales and the launch of affordable yet attractive smartwatches. According to reports, the Indian smartwatch market grew 171% year-on-year in the third quarter of this year, making it the world's largest smartwatch market. Global smartwatch market shipments grew 30% (year-on-year) in the third quarter, despite ongoing inflation and geopolitical crises since the beginning of the year, according to a report by Counterpoint Research.
“The Indian smartwatch market grew 171% (YoY) in Q3 2022 to become the largest market in the world. The main reason for the record quarter was the Christmas season in India. Indian brands' expanding product portfolios at affordable prices and a focus on local manufacturing also contributed to the growth," said Anshika Jain, Senior Analyst.
Noise grew his 218% (YoY) to regain its top position in the Indian market. In India, however, Fire-Boltt lost market share to Noise, dropping to his second place behind Fire-Boltt.
Additionally, Samsung increased its shipments by 62% (QoQ) with the launch of the new Galaxy Watch 5 series, the report said.
“Among the types of smartwatches, basic smartwatches with relatively lighter operating system (OS) versions and more affordable prices have been the main drivers of the recent strong rise in the global market. HLOS smartwatch shipments grew 23% (YoY) in Q3 2022, while basic smartwatch shipments more than doubled (YoY), accounting for 35% of the total market. ,” said research analyst Woojin Son. From Q4 2020 he continued to be the largest market until Q2 2022. India, where he increased by 21%, has grown so large that it has been pushed to No. 2 in the world, the report said. I am adding.
India has become the world's largest smartwatch market with record holiday sales and the launch of affordable yet attractive smartwatches. According to reports, the Indian smartwatch market grew 171% year-on-year in the third quarter of this year, making it the world's largest smartwatch market. Global smartwatch market shipments grew 30% (year-on-year) in the third quarter, despite ongoing inflation and geopolitical crises since the beginning of the year, according to a report by Counterpoint Research.
“The Indian smartwatch market grew 171% (YoY) in Q3 2022 to become the largest market in the world. The main reason for the record quarter was the Christmas season in India. Indian brands' expanding product portfolios at affordable prices and a focus on local manufacturing also contributed to the growth," said Anshika Jain, Senior Analyst.
Noise grew his 218% (YoY) to regain its top position in the Indian market. In India, however, Fire-Boltt lost market share to Noise, dropping to his second place behind Fire-Boltt.
Additionally, Samsung increased its shipments by 62% (QoQ) with the launch of the new Galaxy Watch 5 series, the report said.
“Among the types of smartwatches, basic smartwatches with relatively lighter operating system (OS) versions and more affordable prices have been the main drivers of the recent strong rise in the global market. HLOS smartwatch shipments grew 23% (YoY) in Q3 2022, while basic smartwatch shipments more than doubled (YoY), accounting for 35% of the total market. ,” said research analyst Woojin Son. From Q4 2020 he continued to be the largest market until Q2 2022. India, where he increased by 21%, has grown so large that it has been pushed to No. 2 in the world, the report said. I am adding.
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