California-based fitness technology firm GOQii grabbed No. 1 position in India’s wearable device market in the quarter to June, pipping China’s Xiaomi as more consumers took to using devices for fitness tracking and helping expand the market by a massive 42 per cent compared to the previous quarter.
GOQii led the market with a 16.1 per cent share, followed by Xiaomi which had a 10.3 per cent share and US-based Fitbit, which maintained its No. 3 position with a 6.7 per cent share, according to International Data Corporation (IDC).
Garmin made an entry into the top five, at No. 4, by grabbing a 1.4 per cent share on the back of volumes rising 2.5 times over that in the first quarter. It managed to take the second spot in terms of value, according to IDC, which said that the brand’s popularity is on the rise and further growth is expected in the coming quarters.
As stated by the research firm, China’s Huawei was another entrant to the top five bracket with a 1 per cent share, with both basic and smart wearables. Apart from other key vendors and whitebox players, Intex holds a significant chunk in other category and was one of the major drivers of the market.
The wearable market has advanced to a stage where awareness is no more a roadblock and new vendors are continuously entering the market and existing vendors are offering better product features.
Raj Nimesh, senior market analyst, client devices at IDC is of the opinion that basic wearables made up nearly 94 per cent of over 567,000 units shipped in the quarter. He further mentioned that though basic devices marked a sharp growth, the average price of over $190 has had a negative impact on smart wearables as it is still perceived as a premium device which not many consumers can afford.
Products in higher price bands are expected to have larger share as market and consumer demand evolve. Online channel accounted for 79.2 per cent of total shipments as low end products drove the market.
Most e-commerce companies are betting on wearable devices this festive season, said Pranav Tripathi, senior research manager at IDC. The smart segment of devices could see a higher share compared to basic ones as smart watches at lower prices are expected to be launched by the end of the year.
By Baishakhi Dutta