The best Smart watch market right now is India, according to a recent study. This comes after China’s government announced that it would push for the use of alternative energy sources and reduce dependence on fossil fuels.
China to Be the First Smart Watch Market
India has overtaken China as the world’s leading Smart watch market, according to a report from Strategy Analytics. The report forecasts that the Indian mobile phone market will grow at a rate of more than 11% annually through 2021, outpacing China’s 9.5%.
The popularity of Smart watches in India is attributed to factors including the country’s large population (1.3 billion people) and growing middle class. India also has an increasingly active app market, which should benefit Smart watch manufacturers.
China is still the global leader in terms of sales of Smart watches, but its market share is expected to decline as Indian consumers increasingly adopt these devices.
Vietnam Leads The Hope For Industry Growth
The global Smart watch market is expected to grow from $15.4 billion in 2017 to $27.1 billion by 2021, at a CAGR of 14.5% during the forecast period, according to a report by Market sand Markets. The increasing demand for Smart watches owing to their features such as sleep tracking, monitoring of heart rate, notification alerts, and remote control among others is driving the market growth.
The Asia-Pacific region is expected to be the fastest growing market for Smart watches with a CAGR of 20.7% during the forecast period. Japan, South Korea, and China are the key markets in this region.
India has emerged as the leading country in the global Smart watch market with a market share of 15%. This is primarily due to high consumer demand for wearable technology and low price points in comparison to other major markets such as China and US.
The government’s initiatives such as Make In India and focus on developing new technologies are also contributing to the growth of the Indian Smart watch market.
The US is expected to be the second largest market with a market share of 12%. This is mainly due to high consumer demand for wearable technology and strong presence of major players
The Top 3 Brands in India
India has become the best Smart watch market in the world, according to a report by Strategy Analytics.
The report found that shipments of Smart watches in India grew 64% year-over-year to reach 14 million units in 2018. This was more than double the sales of Smart watches in China, which stood at 6 million units.
The top brands in India include Samsung, Apple, and Huawei. Samsung is the largest player in the Indian Smart watch market, with a share of 36%. Apple is second with a share of 23%. Huawei is third with a share of 18%.
Top 3 Smart watch Features in India
India has emerged as the best Smart watch market in the world. This is thanks to the growing popularity of Smart watches in India.
- The main reason for this growth is the introduction of new Smart watch models each month. This means that there are always new features and improvements to be made.
- Another reason for the popularity of Smart watches in India is the low price point. Many of the best watch models cost less than $100, which makes them affordable for most people.
- One of the main advantages of using a Smart watch in India is the high level of mobile coverage. Almost everyone in India has access to a mobile phone, which makes it easy to use a Smart watch.
- Overall, the growing popularity of Smart watches in India is a testament to their versatility and value. They are perfect for anyone who wants to stay connected and stay on top of their latest developments.
Conclusion
After years of being the undisputed king of the watch market, China has been dethroned by India. According to a report published by Gartner, India’s Smart watch market is expected to grow from $1.5 billion in 2016 to $5.4 billion by 2021. This growth is attributable to several factors – including increased adoption of wearable technology in general and more specifically watches, as well as falling prices of Smart watches and increasing competition from Chinese brands.
Vincenzo Cassano
