India smart band market forecast and opportunities, 2023 brochure

India Smart Band Market By Product Type, By Category, COMPETITION FORECAST & OPPORTUNITIES, 2013 – 2023

PUBLISHED: May 2018

Market Intelligence . Consulting

Ta b l e o f C o n t e n t s S. No.

Contents

1.

Product Overview

2.

Research Methodology

3.

Analyst View

4.

Voice of Customer 4.1.

Sample Distribution

4.2.

Voice of Customer - User Base

4.3.

Voice of Customer - Fitness Band

4.4.

4.3.1.

Purpose of Usage

4.3.2.

Channel of Purchase

4.3.3.

Factors Considered While Making Purchase

4.3.4.

Ranking of Influencing Factors

4.3.5.

Brand of Fitness Band Used

4.3.6.

Price of Fitness Band

4.3.7.

Challenges Faced

4.3.8.

Price of Fitness Band, (INR)

4.3.9.

Ranking of Challenges Faced

4.3.10.

Band Features Preference

4.3.11.

Tendency of Recommendation

Voice of Customer - Smart Watch 4.4.1.

Purpose of Usage

4.4.2.

Channel of Purchase

4.4.3.

Brand of Smart Watch Used

4.4.4.

Price of Smart Watch

4.4.5.

Challenges Faced

4.4.6.

Features Expected While Purchasing

4.4.7.

Satisfaction Level

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Ta b l e o f C o n t e n t s S. No.

Contents 4.3.8.

Tendency of Recommendation

5.

Global Smart Band Market Overview

6.

India Smart Band Market Landscape

7.

India Smart Band Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

8.

9.

Market Share & Forecast 7.2.1.

By Product Type (Fitness Band and Smart Watch)

7.2.2.

By Category (Hand and Others)

7.2.3.

By Region (North, East, West and South)

7.2.4.

By Company India Smart Band Market Attractiveness Index

8.1.

By Product Type

8.2.

By Category

8.3.

By Region

India Fitness Band Market Outlook 9.1. Market Size & Forecast 9.1.1.

9.2.

10.

By Value

By Value

Market Share & Forecast 9.2.1.

By Product Type

9.2.2.

By Distribution Type

9.2.3.

By Price Range

9.2.4.

By Region

9.2.5.

By Brand

9.2.6.

Price Point Analysis

India Smart Watch Market Outlook 10.1.

Market Size & Forecast 10.1.1.

By Value

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Ta b l e o f C o n t e n t s S. No.

Contents 10.2.

11.

Market Share & Forecast 10.2.1.

By Operating System

10.2.2.

By Distribution Channel

10.2.3.

By Price Range

10.2.4.

By Region

10.2.5.

By Brand

10.2.6.

Price Point Analysis

Market Dynamics 11.1.

Impact Analysis

11.2.

Drivers

11.3.

12.

13.

14.

15.

16.

Challenges Market Trends & Developments Policy & Regulatory Landscape Supply Chain Analysis India Economic Profile Competitive Landscape 16.1.

Competitive Benchmarking 16.2.

17.

18.

Company Profiles 16.2.1.

Samsung India Electronics Pvt. Ltd. 16.2.2.

Fitbit India Private Limited

16.2.3.

Xiaomi Technology India Private Limited

16.2.4.

GOQii Technologies Pvt Ltd

16.2.5.

Motorola Solutions India Private Limited

16.2.6.

Apple India Private Limited

16.2.7.

Garmin India Pvt. Ltd.

16.2.8.

Sony India Private Limited

16.2.9.

Fossil India Pvt Ltd 16.2.10.

LG Electronics India Pvt. Ltd. Strategic Recommendations About Us & Disclaimer

4 TechSci Research

Product Overview

•

Wearable devices use technology (sensors) to enable things, which are worn on the body for daily use. The technology used are physiological sensors (measure the sweat and galvanic response to analyze the physical condition of the user). The “things” that people use can be bands (wrist bands, arm bands, head bands and leg bands, etc.), clothing, shoes and apparel. In this report, we will focus on smart bands including fitness bands and smart watches. Smart bands collect or capture data by counting the number of steps taken or could involve complex procedures such as heart rate monitoring and measurement using physiological sensors. The bands, which can also be used as an extension of smartphones, perform various functions such as health tracking and fitness monitoring.

Messages, notification, alerts, reminders and other phone features can be viewed on smart watches. Smart bands are equipped with a display (some may not have a display), battery and sensors for monitoring the users’ vitals (blood pressure, heart rate, steps taken, etc.)

•

Smart watches are equipped with a display (touchscreen may be incorporated) and sensors. These timepieces can be perceived as an extension of smartphones and enable the user to navigate selective phone features with the help of touchscreen.

•

Fitness bands are primarily used for tracking physical fitness of the user and sending data to the phone. The data can be viewed

and analyzed using the fitness application on the phone. Each brand has a dedicated application, which helps the users to keep track of their fitness.

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Research Methodology Baseline Methodology: •

Our dedicated team of industry experts has comprehensively monitored and analyzed various aspects of India smart band market. The team has analyzed various industry segments and speculated a positive future for the industry.

Taking into consideration the technological developments, capital investments, etc., our team of analysts has provided a prudent analysis of the industry’s performance in the future. This would enable our clients in planning their investment decisions and explore growth opportunities in India smart band market.

•

For our study, we have gathered information through primary research surveys with multiple respondents in India smart band market, followed by an exhaustive search of credible paid databases. Our team of experts has then prudently evaluated all the collected information and organized it in chronological order to depict a meaningful and clear picture of the market.

•

In addition, while compiling the data, we have also validated all the collected information from multiple sources and data warehouses in order to present the most accurate and precise information of the concerned industry. We have also identified and analyzed all emerging trends, including important drivers and challenges that the industry is confronting. We have also presented industry forecasts based on our in-depth analysis of the market dynamics,

prevalent trends, major developments and growth opportunities.

Companies Interviewed

Fitbit, Apple, Samsung, Xiaomi, GOQii, LG, Fossil, Motorola, etc.

Sources: Company Website, Annual Reports, Press Releases, Ministry of Corporate Affairs, etc.

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Industry Brief Smart Band Sales in India to Grow at 41% CAGR until 2023 According to TechSci Research report, “India Smart Band Market By Product Type, By Category, Competition Forecast & Opportunities, 2013 – 2023”, smart band market in India is forecast to grow at an astounding CAGR of 41% during 2018 - 2023. Growth in the market is expected to be driven by new technological advancements, rapidly increasing number of health-conscious people in the country and presence of a robust distribution channel. Smart bands enable users to perform functions such as using email, receiving WhatsApp notifications, monitoring heartbeats, etc., which is boosting their adoption across varied consumer segments. Owing to aforementioned factors, number of people adopting smart bands in India is anticipated to grow at a robust pace over the coming years.

On the basis of product type, India smart band market has been segmented into two categories, namely fitness band and smart watch. Of these categories, fitness bands are gaining popularity as they enable the users to easily track their health. Moreover, this segment of smart bands is expected to emerge as the fastest growing segment during the forecast period, backed by the availability of several low-cost products, rising disposable income and growing number of health-conscious people in the country. South India dominates the country’s smart band market, on account of presence of huge tech-savvy and fitness conscious population in the region. However, over the coming years, eastern region is anticipated to register the fastest growth rate in the country’s smart band market, on the back of rapid urbanization.

According to a consumer survey conducted by TechSci, it was found that majority of the respondents prefer purchasing smart bands in the price range of USD15-30 per piece. “India smart band market is expected to witness strong growth over the coming years, as the IoT ecosystem is growing at a rapid pace.

In addition to rising sales of low-cost smart bands, the anticipated launch of more smart home appliances and introduction of 5G technology, along with LTE feature in smart watches such as Apple, is likely to push the smart band market in India over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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Sample Data-Snapshot Figure

11:

India

Fitness

Band,

By

Challenges Faced, 2018 (N=X)

Figure

30:

India

Smart

Band

Market

Attractiveness Index, By Product Type, By Value, 2018E-2023F

Figure 29: India Smart Band Market Share,

By

Company,

10.00%

2023F

8.00%

Smart Watch

6.00% 4.00% Battery Life

Comfort

Wear & Tear

Ease of Availability Use of Feature

Purchase, 2018 (N=X)

10.00%

10.00%

0.00% 0.00

Figure 6: India Fitness Band, By Channel of

10.00%

Fitness Band

2.00%

Others

Value,

2023F

12.00%

Device Accuracy

By

0.50

1.00

1.50

2.00

10.00%

2.50

Figure 19: India Smart Watch, By Price of 10.00%

Smart Watch, 2018 (USD) (N=X) Samsung

Under 15

15-70

70-150

150-300

Fitbit

Xiaomi

GOQii

Others

300 and Above

Figure 27: India Smart Band Market Share, By Region, By Value, 2013– Online (E-commerce Website)

Offline (Retail Store)

Figure 12: India Fitness Band, By Price of Fitness Band, (INR) 2018 (N=X) 10.00%

2023F 35.00%

35.00%

35.00%

35.00%

35.00%

35.00%

35.00%

35.00%

35.00%

35.00%

35.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

25.00%

25.00%

25.00%

25.00%

25.00%

25.00%

25.00%

25.00%

25.00%

25.00%

25.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

2013

2014

2015

2016

2017

2018E

2019F

2020F

2021F

2022F

2023F

10.00%

500-1000 1001-2000 10.00%

10.00%

2001-4000 4001-6000 6001-10,000

10.00%

10,000 and Above

South

West

North

East

Source: XXXXX Note: These are dummy figures; please purchase our report for actual data

8 TechSci Research

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About Us & Disclaimer About Us: TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research

provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

Related Reports: Global Smartwatch Market Competition Forecast and Opportunities, 2012-2021 India IoT Market Forecast and Opportunities, 2022

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Disclaimer: The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the Userof such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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