Counterpoint Research released its latest IoT report, revealing an impressive growth in smartwatch users in India. According to the data, the market grew 173% annually in the first quarter of 2022, driven by multiple product launches and various discount offers.
Noise led the market with 23%, ahead of Fire-Boltt and boAt. The Realme Dizo brand finished fourth, while Samsung remained fifth thanks to its relatively expensive Galaxy Watch4 devices.
The price segment below INR5,000 (approximately $ 67) increased its share by 87%, while the particular segment of INR1,000-INR2,000 ($ 13- $ 27) achieved its highest result of the 14%, revealed Anshika Jain, Senior Research Analyst.
According to the executive, many brands have begun to focus on this low-price segment to attract first-time users and acquire the smart band’s user base. Brands have also done their best to impress consumers with continued efforts in marketing and promotions, both online and offline.
Research analyst Harshit Rastogi said brands pushed for larger displays, which pushed the market forward. Now most smartphone users have a device with a screen of at least 1.5 ”, a massive increase from just 11% last year. In addition, some required features such as SpO2 measurement are present at all price levels, as well as blood pressure monitoring and voice assistant.
Noise doubled its shipments every year, with Colorfit Pulse being its best-selling device. Fire-Boltt climbed to second place for the first time in the brand’s history, with 57% of its devices now equipped with a Bluetooth calling feature. Apple
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