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The landscape of wearable devices is undergoing a rapid transformation, with tech giants like Apple, Xiaomi and Samsung vying for supremacy. However, in a significant turn of events in 2023, an Indian contender has emerged as a potent force in the global race for wearable devices.
According to the IDC Worldwide Quarterly Wearable Device Tracker Q3 2023 report, boAt has secured the second spot among the world’s largest wearable device manufacturers by volume (number of units shipped.) The report indicates a 2.6% growth in worldwide shipments of wearable devices during Q3 2023, reaching an unprecedented 148.4 million units.
Here is list of Top 5 Wearable Device Companies:
1) Apple
2) boAt (Imagine Marketing)
3) Xiaomi
4) Samsung
5) Huawei
For the first time, boAt is in 2nd place in terms of wearable categories like watches, bands, earphones, and headphones.
It is worth noting that there is a… pic.twitter.com/FjO2Y3gLZE
— Utsav Techie (@utsavtechie) December 5, 2023
Market Dynamics
While Apple maintained its dominance with 29.9 million shipments, capturing a 29.9% market share in Q3 2023, the noteworthy surprise came from India’s boAt, under the umbrella of Imagine Marketing, securing the second position with 9.6% of the market and 14.3 million shipments. This ascent marks a significant leap from being the 5th largest wearables brand globally in Q2 of the previous year. Xiaomi claimed the third spot with 11.6 million shipments and a 7.8% market share, followed by Samsung (10.7 million shipments, 7.2% market share) and Huawei (8.5 million shipments, 5.7% market share).
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— boAt (@RockWithboAt) October 25, 2023
IDC Insights
The International Data Corporation’s report highlights the overall volume growth, surpassing the shipments of Q3 2021 (142.1 million) and Q3 2022 (144.6 million). IDC attributes this surge to the proliferation of smaller brands and emerging categories, signifying a diverse and dynamic landscape in the wearable tech industry.
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Hurry, this won’t haunt you forever! pic.twitter.com/EALTpb3WrE— boAt (@RockWithboAt) October 21, 2023
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