India becomes the second largest market for wearable watches in the world

Tags: Economy/Finance

India has surpassed China to become the second biggest smartwatch market in the world. According to the United Kingdom based market research company, Counterpoint, at the end of June 2022 quarter, the Indian market grew by 347% as compared to the same period last year. During the June 2022 quarter the global market grew at just 13%. 

Main Points of the report 

North America remains the largest smartwatch market in the world with a shipment of 26% of the global market.

India was the second largest market in the world with a shipment of 22% of the global market.

China remained the third largest market with a shipment of 21% of the global market.

Smartwatch Brand in the world 

 The world's largest smartwatch company was Apple accounting for 29.3% of the overall shipments, followed by Samsung (9.2%), Huawei (6.8%).Fire-Boltt (6.3%) and Noise (5.9%).

Fire-Bolt and Noise are Indian companies and they have been included in the top five companies of the world for the first time.