India's Wearable Tech Market Faces First-Ever Decline in 2024

In a surprising turn of events, India's wearable device market experienced its first-ever decline in 2024, dropping 11.3% year-over-year to 119 million units. The International Data Corporation (IDC) report reveals that smartwatch shipments plummeted by 34.4%, while earwear showed modest growth of 3.8%. This downturn is attributed to a lack of innovation, fewer product launches, and brand consolidation. Despite the setback, emerging categories like smart rings and glasses are expected to see high double-digit growth in 2025, potentially revitalizing the market.

 

Source: International Data Corporation (IDC)