India’s home grown brands now comprise 55 per cent of the country’s wearables market

According to data from market intelligence giant IDC India, homegrown businesses now account for 55% of the country’s accessories industry, giving India’s lofty ambitions to dominate the smart devices market a significant boost.

The accessories’ space includes hearables, wearables and power accessories.

The IDC India identified fresh launches, reductions across channels, and active marketing by brands as the reasons for the dominance of Indian wearable brands.

Following this, the Indian wearable brands are apparently doubling down on manufacturing and future expansion despite an overall pessimism in the smartphone manufacturing industry because of concerns about a worldwide recession.

Of the top five wearable brands in the country, the top three are Indian brands. They are Imagine Marketing (BoAt) with over 32 per cent, Nexxbase (Noise) with close to 14 per cent share, and Fire-Boltt with close to 9 per cent share.

China-headquartered OnePlus (more than 8 per cent) and Realme (more than 4 per cent) also make it among the top five wearable brands in India.