India’s wearable market shrinks 11.3% in 2024: IDC report

India’s wearable market faced its first-ever year-over-year (YoY) decline in 2024, with shipments dropping 11.3% to 119.0 million units, according to IDC. The market also contracted for the third consecutive quarter, with Q4 2024 shipments down by 8.7% to 25.9 million units.

The smartwatch segment saw a significant decline, with its share dropping from 39.8% in 2023 to 29.4% in 2024. IDC attributed this to the lack of major innovations and technological advancements, leading to muted consumer demand. The average selling price (ASP) of smartwatches…