PROSPECTS AND OPPORTUNITIES
Steady growth expected for wearable electronics in the forecast period
Wearable electronics is set to witness robust retail volume growth in the forecast period, driven by factors such as the increasing adoption of smartphones, higher disposable incomes, aspirational demand from smaller cities, and a growing focus on health and fitness tracking. One of the primary drivers of growth will be expanding internet and smartphone penetration in India, which will boost the demand for wearable devices that connect seamlessly to smartphones and provide users with a wide range of features.
Activity bands continue to lose favour amongst consumers
The demand for activity bands is expected to continue to steadily decline in the forecast period, due to their limited functionality, and the falling prices of alternatives such as smartwatches and digital activity watches. While activity bands mainly track steps, calories, and sleep cycles, digital activity watches and smart wearables offer a wider range of features, including music control, location tracking, contactless payment options, and access to notifications and calls.
Local manufacturing of wearables to become more prominent
The share of locally produced wearable electronics is expected to continue rising in the forecast period, as several home-grown and foreign brands look to shift their manufacturing to India. This has been possible through the phased manufacturing program (PMP), which has indirectly incentivised the domestic production of wearable electronics.
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Overview:
Understand the latest market trends and future growth opportunities for the Wearable Electronics industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Wearable Electronics industry in India, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Wearable Electronics in India report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Wearable Electronics in India?
- Which are the leading brands in India?
- How are products distributed in India?
- How is the rise of e-commerce changing the retail landscape?
- How has COVID-19 and accordant macroeconomic and retail disruption impacted consumer demand?
- How are considerations such as urban development and the rise in single-person households driving sales growth?
- Where is technology taking the market? Which products are pioneering growth? Which face obsolescence?
- Where is future growth expected to be most dynamic?
Wearable Electronics in India - Category analysis
KEY DATA FINDINGS
With the rising health trend, wearable electronics witnesses strong growth
The competition intensifies amongst the top manufacturers in wearable electronics
Retail e-commerce remains the dominant distribution channel
Steady growth expected for wearable electronics in the forecast period
Activity bands continue to lose favour amongst consumers
Local manufacturing of wearables to become more prominent
Consumer Electronics in India - Industry Overview
Consumer electronics in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer electronics?
DISCLAIMER
The following categories and subcategories are included:
Wearable Electronics
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- Activity Bands
- Activity Watch (Analogue)
- Activity Watch (Digital)
- Smart Wearables
Wearable Electronics
Electronic devices designed to be worn by the user, typically on the wrist or head. The category only covers products designed for retail sale and consumer usage. Products designed for use in medical, military and any other profession such as diving are excluded.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Wearable Electronics research and analysis database.
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