With shipments of 6.3 million units, India's share of the global wearable band market reached 15 per cent in the second quarter of 2022, its highest ever, says a new report.
According to market research firm Canalys, while India stayed in third place behind China and the US in terms of overall wearable band shipments, its share hit 15 per cent for the first time.
"The local kings, such as Noise, Fire-Boltt and boAt, have found a winning formula to hit a quarterly shipment level of more than a million units quickly," Canalys Analyst Ashweej Aithal, said in a statement.
The global wearable band shipments were up 2.0 per cent in the second quarter of 2022 at 41.7 million units, a return to growth after a decline of 3.7 per cent in the first quarter.
The basic watches and smartwatches, categorised under wristwatches, grew 46.6 per cent and 9.3 per cent, respectively.
The wristwatch category continues to drive the development of the wearable band market, while basic bands suffered a big 35.5 per cent decline in the second quarter of 2022.
Like the smart personal audio market, India's wearable band market performance was the highlight in the second quarter, with impressive shipment growth of 275 per cent, driven by basic watches.
The basic watch category accounted for 91 per cent of all wearable band shipments in India, making India the world's largest basic watch market with 5.7 million units shipped, overtaking China in the second quarter of 2022.