Noise, Fire-boltt, boAt Topmost Wearable Brands Worldwide, Says Report

After being relegated to the periphery in the smartphone market, Indian businesses are now leading the Rs 60,000 crore accessories market, which includes wearables, hearables, and power accessories.

Additionally, Indian wearable businesses are increasingly focusing on expansion and manufacturing plans in the hopes of robust growth, mostly from the hinterlands and anticipated consumer upgrades, even as smartphone players reduce production out of concern for the impact of macroeconomic issues.

The three leading Indian brands among the top five ranks were Nexxbase (Noise), with a market share of more than 32 per cent, and Imagine Marketing (BoAt), with a share of almost 9 per cent. IDC India estimates that they hold a combined market share of roughly 55 per cent.

The other two companies that made the top five were OnePlus (over 8 per cent) and Realme (over 4 per cent).

Brands have increased local manufacturing in India as a result of the government planning to impose a 15-20 per cent duty on finished wearable products starting next year.