High disposable income, increasing purchasing power of the customers, growing awareness among the people, increasing number of tech-savvy consumers, health benefits from the smart gadgets are some of the driving forces in the Smart Wearables market in India.
According to recently published report of Bonafide Research "India Smart Watch Market Outlook, 2021" wearable technology is a new technology which has evolved in the Indian market. Technological developments, mainly originating from the mobile phone industry have provided vendors with a range of electronic components that have enabled a new wave of innovation. Many global companies are interested in the Indian market as Asia Pacific is expected to showcase in the coming years and China, India are the most potential countries in the global market. India is a huge market for the wearables market and other technologies governing the same. Consumers in India are both design savvy and hugely interested in the latest consumer technology. With heart disease and diabetes remaining two of the major causes of death in India, keeping a healthy and active lifestyle has never been more important. Fitness gadget makers are betting big on markets like India that have a young population. With a booming smartphone industry, device makers like Xiaomi and Yu are confident that the wearables category in India will grow at a stronger pace in the coming years.
Wearable technology is at a nascent stage in the Indian market. Wearable health devices are the most important and highest share acquirer in the Indian market. The smart wearables are made up of smart watches, smart band and other upcoming technologies. Fitness trainers such as athletes are the main target customers for the smart wearable devices in India. This kind of technology is most appropriate for top-tier athletes who want to push their limit. Besides global brands, the local brands like Titan, Timex and other small players are getting involved in this market which is expected to boost the Indian market in terms of volume sales.
Smartphones is a technology which had experienced a slow adoption in the Indian market as people mostly used Windows phone which gave the basic facilities. But with the youth having a grab more on the technology side, the trend changed with most of the people going after new versions of O.S used in the smartphones. The same trend is expected from the new members in the family of smartphones i.e. Smart Watch, Smart Bands, Smart Glasses and other smart wearables in the Indian market. Health is one of the core plus in this technology as it helps in the fitness tracking of many people in the world. The Indian customers never really think of the money spend when it is the question of health. So, the smart wearables are expected to grab a good share in the Indian smart wearables market.