The wearable market in India is rapidly growing. In 2016, 2.5 million units of wearable devices were shipped with Goqii and Xiaomi dominating the entry-level segment, International Data Corporation's (IDC) Worldwide Quarterly Wearable Device Tracker has said.
Total wearable shipments in the fourth quarter of 2016 were 675,000 units, which included both smart wearables that can run third party apps and basic wearables, which cannot.
Wearables shipments declined 19.6% sequentially as basic wearables -- that account to 86.4% of total wearable -- declined 23.9% in the fourth quarter of 2016.
"Shipments declined in the last quarter of the year after a sharp spike in third quarter owing to channel preparation for festive season in October," Navkendar Singh, Senior Research Manager at IDC India, said in a statement.
"However, smart wearable shipments grew 23.6% in CY Q4 2016 as new vendors like Fossil's made their entry into Indian wearable market and fresh shipments of new models from vendors like Apple and Samsung fueled the growth", Singh added.
In terms of price, the â€˜less than $50â€™ segment dominated the category accounting for 73% of total wearable shipments. This segment was dominated by fitness trackers from vendors like Goqii and Xiaomi while Intex shipments shrank.
"Owing to its low-cost affordability, this price segment continues to see mostly first time buyers experimenting this relatively new form factor in the market. In the effort to enhance value proposition, devices in this price segment has seen drastic evolution over last year from being basic activity trackers to one with display, basic phone notifications and heart rate sensors," Karthik J, Senior Market Analyst, Client Devices at IDC India, added.
According to IDC India, the traction that wearable devices market saw in 2016 would continue in 2017.