In a recent published report, Kenneth Research has updated the India Wearable Devices Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for India Wearable Devices Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
Technology-enabled wearable devices are gaining momentum in India and its segment will emerge as a dominant one in the Indian consumer electronics market. Fitness monitors, smart watches, and internet-enabled eyeglasses are the various types of wearable devices available in the Indian market.
India is a growing market for wearable device products. The introduction and availability of next generation cellular networks, and their improved connectivity are factors boosting the growth of the market. Indian start-ups are introducing various innovative products like GPS-enabled smart sports shoes, and multi-function Bluetooth devices that work as camera triggers and alerts while in motion, among others. The players are also heavily focusing on developing wearable devices with advanced features and applications that provide an enhanced digital experience.
The India wearables device market has players such as Goqii, Xioami, Fitbit, Garmin, Huawei, and others. Goqii holds the largest share of the market. Some of the other players with significant market shares in the category are Xioami, Fitbit, Garmin, and Huawei.
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Key growth factors:
o In the last few years, Indian consumers have shown increased interest in wearable devices like smartwatches, fitness trackers, and fitness monitors, among others. People these days are more aware of the wearable devices and the applications that help in making daily life easy. Increased disposable income and awareness among Indian consumers are stimulating the growth of wearable devices market in India.
o The increased availability of 4G and WiFi networks is fuelling the adoption of wearable devices across the country. India is one of the fastest growing economies that is embracing 4G networks, and this is expected to trigger the growth of wearable technology and the devices market.
Threats and key players:
o The biggest factor deterring the growth of the wearable devices market in India is that it is too expensive. The iOS and Android applications can act as substitutes for the technology since many applications currently use smartphone sensors to track classic wearable metrics like steps taken, and heart rate, among others
o Apple India Pvt. Ltd., Google India Pvt. Ltd., Intel Technology India Pvt. Ltd., Microsoft Corporation (India) Pvt. Ltd., Nike India Pvt. Ltd., and Samsung India Electronics Pvt. Ltd., are some of the major players operating in the Indian wearable device market
What’s covered in the report?
1. Overview of the India wearable devices market
2. Historical, current and forecasted market size data of the India wearable devices market (2014 to 2023)
3. Qualitative analysis of the India wearable devices market and its segments (based on players – Goqii, Xioami, Fitbit, Garmin, Huawei, and others, by price – less than USD 50 segment, and others)
4. Qualitative analysis of the major drivers and challenges affecting the market
5. Analysis of the competitive landscape and profiles of major players operating in the market
6. Key market trends of the wearable devices market in India
7. Analysis of various Indian start-ups operating in the wearable devices market
8. Key recent developments associated with the wearable devices market in India
1. Get a broad understanding of the wearable devices market in India, the dynamics of the market, and the current state of the sector
2. Strategize marketing, market entry, market expansion and other business plans, by understanding the factors driving the growth of the market
3. Be informed regarding the key developments in the wearable devices market in India
4. Understand major competitors’ business strategies and market dynamics, and respond accordingly to benefit from the market
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of India Wearable Devices Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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