The Indian market has grown to be the most important smartwatch market on this planet, as per a current report by Counterpoint Analysis, whereas Apple continues to guide the section with a wholesome annual enhance.

In its World Smartwatch Mannequin Tracker for the third quarter of the 12 months, Counterpoint Analysis revealed that the worldwide marketplace for the cargo of smartphones clocked a year-on-year (YoY) enhance of 30% for the interval, regardless of hostile components equivalent to rising charges of inflation and different macroeconomic circumstances.

The report divided the smartwatch market into HLOS (high-level OS, those who run a high-end working system and price extra), and fundamental smartwatches (which include comparatively lighter variations of OS and are extra pocket-friendly). As per the report, the shipments of HLOS smartwatches rose by 23% YoY within the third quarter of the 12 months. The entire cargo of fundamental smartwatches, alternatively, greater than doubled for the third quarter and went on to account for 35% of the full world smartphone market.

“This outstanding enhance in fundamental smartwatch shipments exhibits us that the market base is quickly increasing towards extra accessible segments amid aggressive drives by the provision facet. However nonetheless, when it comes to income, the HLOS smartwatch overwhelms the fundamental smartwatch with a market dimension of just about 10 instances because of its excessive common promoting value (ASP),” mentioned Woojin Son, Analysis Analyst.

And driving on the again of sturdy festive gross sales, the Indian market clocked an astounding annual development of 171% to change into the most important smartwatch market on this planet, thus ending the long term of the North American market on the prime. Other than the Chinese language and European markets, different markets clocked annual development as effectively.

Based on Anshika Jain, Senior Analyst, this development might be attributed to the adoption of options equivalent to Bluetooth-calling (which contributed a 58% share in complete shipments), and shopper choice for greater show sizes. The enlargement of the product portfolios of Indian manufacturers at pocket-friendly value factors and deal with homegrown manufacturing turned out to be one other main issue.

Trying over the efficiency of smartphone producers, it’s noticed that Apple clocked an annual development of 48% because it rode on the again of the Apple Watch 8 sequence – which accounted for about 56% of the general shipments. The Cupertino-headquartered tech big additionally made up about 50% of the HLOS smartphone section within the third quarter. South Korea’s Samsung comes second with a quarterly enhance of 62% and annual development of 6% in its shipments, whereas its share available in the market fell.

Noise, which regained the highest spot within the Indian market with an annual development of 218%, comes within the third place. It’s adopted by Fireplace-Boltt, which did not clock a powerful annual development and maintained a flat market share. Chinese language tech participant Huawei completes the highest 5 with an annual development of 65% in its shipments, but it surely didn’t file any shipments in India for the primary time since 2018.