Wearable market clocks over 40% sequential growth in Q2 2016

According to the International Data Corporation (IDC), the wearable market in India observed a robust growth of 41.9 per cent in the second quarter of 2016 over the first quarter. The total shipment in the second quarter of the year clocked over 567,000 units of which the basic wearables, defined as wearables which can't run third-party applications, contributed nearly 94 per cent. The market is highly dominated by sub-$50 category offerings which commands over 83 per cent share of the wearable market.

The key players in the market are GOQii, Xiaomi, Fitbit and Garmin. Raj Nimesh, senior market analyst, client devices, IDC, said, "The wearable market has advanced to a stage where awareness is no more a roadblock. New vendors are entering the market and existing vendors are offering better product features. 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."