NEW DELHI New Delhi: The average selling price (ASP) of total wearables in India grew 1.3 per cent to $21.3 in the July-September period this year, an IDC report said. The smart ring category continued to grow, with over 92,000 smart rings shipped in Q3 2024 and ASP declined 16.2 per cent to $162.1. Ultrahuman led with 36.8 per cent share, Boat (Imagine Marketing) was second with 20.5 per cent share and Pi Ring was third with 16.3 per cent share. The growing popularity of smart rings is also evident from the reduction in prices and new launches expected in the upcoming quarters, the IDC report said.
Smartwatch ASP grew 1.4 per cent to $26.2 from $25.8 while earwear ASP grew 5.9 per cent to $19.2. Anand Priya Singh, Market Analyst, Smart Wearable Devices, IDC India, said, “As smartwatch shipments witnessed a rapid growth in 2023, white box shipments also grew manifold this year.” According to Vikas Sharma, Senior Market Analyst, Smart Wearable Devices, IDC India, the smartwatch category will remain tense as we enter 2025, as it consists of a diverse range of products and a limited number of brands. “However, we are gradually seeing early signs of consumers moving from basic to advanced smartwatches, as the need for better health tracking with efficient sensors and advanced functionality is gradually emerging,” Sharma said.
” Noise secured its position as the leading smartwatch brand in the country with a 27.4 percent market share. “Over the last 20 quarters, Noise has consistently led the Indian smartwatch market, achieving sustainable growth through constant innovation and a firm focus on our consumer-first strategy – all while being a bootstrapped brand,” said Amit Khatri, co-founder, Noise. Overall, India’s wearable device market declined 20.7 percent year-on-year to 38 million units for the second consecutive quarter.
