The wearables market is booming worldwide as more users turn to health-focused devices for their everyday fitness needs. Last year, the wearables market saw a massive year-on-year growth of 170% during the first quarter, with shipments reaching 11.4 million units. Now, according to a recent IDC report, the global wearables market grew by 20% in 2021 as compared to the growth in 2020, with shipments reaching 171 million units at the end of Q4 2021. While Apple led the pack with the most number of wearable device shipments, Indian company boAt saw the highest growth rate, thanks to its popularity in India.
According to a recent report by the International Data Corporation (IDC), the total shipments for wearables in 2021 reached 533.6 million units The wearables market continued its growth during 2021, thanks to the growth of hearables, which accounted for two-thirds of the entire wearables industry.
There is a significant difference between the company’s growth rate in 2020 as compared to last year. Back in 2020, boAt recorded a YoY growth rate of only 2.3%. The report mentions that boAt’s high-value, low-cost strategy in India has proved to be highly successful for the company’s wearable as well as hearable devices.
Ramon T. Llamas, the research director of Mobile Devices and AR/ VR at IDC, noted in a statement. “Although Apple remained far out front for the year, another telling sign of the market is the long list of vendors coming afterward. Samsung, Huawei, and Imagine Marketing all posted market-beating year-over-year growth, as did our collective ‘Others’ group.“
