Rising health concerns and low cost is driving the Indian wearable market
The wearable innovation keeps on developing quickly, with individuals getting more cognizant for their wellbeing and prosperity. From smart watch to the wellness tracker, wearables are advancing toward standard product in the global market. On one hand, wearables like smartwatch and bands are tracking their day-to-day activities and pushing them to work out. And other side advancements in wearable like savvy glasses have a quality of reflecting anticipated computerized pictures and permitting the client to see through it. The smart glasses can substantially more than giving information or taking photograph and video.
As per the report published by IDC, Indian wearable market witnessed total shipment of 2.5 millions in 2016.Total wearable shipment in fourth quarter of 2016 was 675000 units which comprise both smart wearables that can run any applications which and basic wearables that can’t. Products that are highly demanded belong to the segment that price below $50 and this segment was dominated in fourth quarter of 2016. The category accounted for 73% of total wearable shipment last year. Due to low cost and affordability factor has attracted many new users in the market. The fitness wearable was dominated by players like as Xiaomi, and Goqii. .
Focusing on the dominating players in India wearable market, Goqii was leading with 15.5$ market share, Xiaomi at13.2% and Fitbit with 7.9% in the quarter.
Integration of fitness wearables with collaborated service system such as doctor, diagnostic, personal trainers, and dietician is one of the vital factors responsible for the growth of the wearable market. High demand from the commercial segment and discount in prices on specific devices also fetch many users which direct the graph of the demand upwards.
People inclining towards connected devices to stay upgraded with the trending technology, constant development in the products, and easy availability of wearables right at your door step through online delivery platform and stores has also motivated the growth of the global wearable market.
On the other hand, consumers becoming more techno-savvy and curious about the trending technologies is the major driver of the global market. Eye pleasing designs, multipurpose features are some of the unique selling points of the trending wearables.