Indian Wearable Market Experiences Historic Decline in 2024
Friday, 9 August 2024, 01:40
Indian Wearable Market Overview
The Indian wearable device market has experienced a historic decline of 10% year-over-year, reaching 29.5 million units in sales.
Key Factors Contributing to the Decline
- The decline marks the first drop in the market's existence.
- A decrease in the average selling price (ASP) of wearables has been noted.
- Shifts in consumer preferences and the rise of competition are significant influences.
Market Outlook
The trend suggests a need for innovation and adaptation among manufacturers to meet evolving consumer demands. The reports from the IDC indicate that addressing these factors will be critical for future growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.