India’s wearable device market declined in 2024 for the first time, new report reveals

New data released by IDC, a global market intelligence and advisory services provider, revealed that India’s wearable device market declined for the first time in 2024 — by 11.3 per cent year-on-year, according to data released by the (IDC).

Smartwatch shipments fell sharply by 34.4 per cent, while earwear shows modest growth of 3.8 per cent. The smartwatch share within wearables dropped to 29.4 per cent from 39.8 per cent in 2023. The lack of meaningful innovations and technological advancements led to muted consumer demand, IDC said in its report.