Wearables have been one of the quickly growing markets in India. According to a report by research firm International Data Corporation (IDC), the Indian wearable market posted a 144.3 percent year-on-year growth in 2020. Shipments in 2020 exited at 36.4 million units. Further, India was the only country in the top 20 to see triple-digit growth in wearables in 2020 and continues to be the third-largest wearables market globally.
This growth was majorly driven by the increasing acceptance of wearable earbuds and upgrades to smartwatches from fitness bands, both recording their highest annual shipments in 2020.
As per the report, the earwear shipments grew over three times in 2020 compared to 2019. Demand for more units was driven by newer, more affordable launches that now began being used for non-entertainment use-cases too. These include virtual meetings and e-learning requirements. TWS earbuds also featured the highest gains in shipments with a total of 11.3 million…