In-depth Analysis of the COVID-19 impact on India Wearable Industry: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The global outbreak of Covid-19 virus has led to massive disruptions in all industries, especially with sectors which are dependent on imports, especially from China. The looming public health crisis has claimed over 530 thousand lives globally as of 6th July 2020 and apart from that, it continues to pose a threat on the lives, livelihoods and businesses across the world. India is the third worst Covid-19 hit country in the world, after the United States and Brazil with the number of cases reaching ~1.0 million. India’s GDP contracted by 13.1% in the first quarter of 2020 as against in the last quarter of 2019. The closure of establishments, manufacturing units, industries, etc. due to the imposed lockdown, has adversely impacted the Indian economy. The consumer electronics industry as well as wearables industry was affected due to plummeting imports. As per industry reports, after consecutively growth from the last eight quarters, the volumes registered their first sequential decline, as the shipments curtailed 17.9% in first quarter of 2020. Supply constraints from China due to the countrywide lockdown in March led to this decline. The impact was largely seen on wrist bands as the category saw a 33.5% quarter over quarter (QoQ) decline in the same duration. Effect on Consumer Wearable Demand in the First Half of 2020: The imposed lockdown in the country and the social distancing norms have impacted the premium wearable demand in the country. The total sales of both fitness trackers & smart watches combined declined to -17.5% in FY’2020 as compared to FY’2019. Companies such as ‘Xiaomi’ reported approximately 39.3% decline in wearable sales volume in the weeks of Mar-June, 2020. Stay-at-home orders amidst the pandemic reduced the physical activities of individuals, moreover the lockdown on gyms contributed to the declined sales of fitness trackers. Effect on Medical Wearable (or Consumer Wearable with Specific Medical Features) Demand in the First half of 2020: Temporary closure and shutdown of hospital facilities in the country lead to increased demand for medical wearables in the country. The reluctance of patients to go to doctor’s offices and clinics during the pandemic has helped telemedicine and online health coaching gain some traction, and that supports the business model of many companies such as Goqii. Smartwatches with ECG capabilities PPG for oxygen saturation and blood pressure monitoring have seen increase amongst patients who require monitoring of vitals on a regular basis. In addition to this, with the arrival of temperature sensing in certain wrist worn wearables has helped in detecting the early onset of COVID-19. Temporary & Long Term Shifts in the Business Practices: The demand for wearables is expected to recover towards the end of 2020 due to the ease offered on lockdown restrictions post June. The demand for fitness is however expected to recover in the first half of the year 2021, as the gyms and fitness centers reopen and logistics is restored along with removal of import restrictions. As of now, the industry is heavily dependent on China for imports. There are lots of essentials for which a lot of countries are banking on China. With changing buying preferences throughout the world towards China, it is anticipated that manufacturers may move towards India as a preferred alternative for wearable manufacturing. The industry is expected to witness steady recovery from 2021 onwards and the sales volume reaching pre-Covid levels in the next few years. In the longer run, wearable manufacturers are expected to shift towards online sales channels including e-commerce platforms, online marketplaces and investing in an official online store which accounts for majority of the wearable sales volume in the country. As a result of the Covid-19 pandemic, online buying is expected to dominate the buying preferences of consumers in the future. Strategic partnerships with independent & franchisee gym and fitness centers, insurance companies as well as other stakeholders in the industry is expected to lead the industry to recovery and boost wearable sales volume in the future. This would be coupled with focus on higher quality sensors, introduction of new features and continued investment in research & development for introducing innovation product solutions in the market. Basis all these factors, the India wearable’s market is expected to grow at a CAGR of 21.8% on the basis of sales revenue during the forecast period 2020-2025. Key Segments Covered:- India Consumer Wearables Market By Type Fitness Trackers Smartwatch By Price Segment Under ₹1000 ₹1000 – ₹10,000 ₹10,000 – ₹20,000 Above ₹ 20,000 By Distribution Channel Online Offline By Region North East West South By Type of City Metro Non-Metro India Smartwatch Market By Type General Purpose Smartwatch Sports Smartwatch Hybrid Smartwatch By Price Segment Under ₹1000 ₹1000 – ₹10,000 ₹10,000 – ₹20,000 Above ₹ 20,000 By Distribution Channel Online Offline By Region North East West South By Type of City Metro Non-Metro India Fitness Trackers Market:- By Type of Wearables Wrist Worn Others By Price Segment Under ₹1000 ₹1000 – ₹10,000 ₹10,000 – ₹20,000 Above ₹ 20,000 By Distribution Channel Online Offline By Region North East West South By Type of City Metro Non-Metro Companies Covered:- Xiaomi Technologies India Inc. Goqii Technologies India Inc. Samsung India Electronics Ltd. Fitbit India Apple India Titan Company India Ltd. (Fastrack) Fossil India Inc Key Target Audience:- Wearables Manufacturing Companies Wearables Importing Companies Semiconductor Manufacturing Companies E-Commerce Companies Healthcare Associations Industry Associations Regulatory Bodies Time Period Captured in the Report:- Historical Period: 2015-2020 Forecast Period: 2020-2025 Key Topics Covered in the Report:- Overview and Genesis of India Consumer Wearable Industry Target Addressable Market for End Users Trends and Growth Drivers in the Industry and Challenges Faced India Consumer Wearables Market Size and Segmentations, 2014 – 2019 Ecosystem and Value Chain of India Consumer Wearables Industry Customer Decision Making Parameters Cross Comparison between Major Players and Detailed Company Profiles & Product Portfolios Future Market Size and Segmentations, 2020-2025F Covid-19 Impact on the Industry & the Way Forward Analysts’ Recommendations For More Information on the research report, refer to below link:- India Consumer Wearables Market Related Reports:- India Audio Accessories Market Outlook to 2023 – By Type (Headphones, Earphones, Bluetooth Speaker and 2.1 Speaker), By Sales Channel (Online and Offline), and By Region (North, South East and West) Saudi Arabia Fitness Services Market Outlook to 2025- By Market Structure (Organized and Unorganized), By Revenue Stream (Membership, Personal Trainer and Supplementary Services), By Regions (Riyadh, Jeddah, Dammam, Al Khobar, Makkah and Madinah and others), By Subscription (3 months, 6 months, 1 year and others), By Gender (Male and Female), By Age (Below 18 years, 19 to 30 years, 31 to 60 years and above 60 years) and By Income Group (Below SAR 38,000, SAR 38,000 to SAR 94,000, SAR 94,000 to SAR 150,000 and above SAR 150,000) Asia Pacific Orthopedic Device Market Outlook To 2025 – By Country (China, Japan, India, Korea, RoAPAC), By Type Of Treatment (Joint, Spine, Trauma And Orthobiology And Sports Medicine); And By Type Of End User (Multispecialty And Orthopedic Specialty Hospitals) Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Apple Wearables Market Share India, Consumer Wearables Industry In India, Consumer Wearables Market In India, Coronavirus Impact India Consumer Wearables Industry, Coronavirus Impact India Consumer Wearables Market, Covid-19 Impact India Consumer Wearables Industry, Covid-19 Impact India Consumer Wearables Market, East India Consumer Wearables Market, Evaluation Study India Consumer Wearables Market, Evaluation Summary Report India Consumer Wearables Market, Evaluative Survey India Consumer Wearables Market, Fitbit Consumer Wearables Market Revenue, Fitbit Wearables Production Capacity India, Fitness Trackers Market Sales Volume India, Fossil Consumer Wearables Market Sales, Goqii Wearables Market Share India, India Consumer Smartwatch Market, India Consumer Smartwatch Market Size, India Consumer Wearables Due Diligence Report, India Consumer Wearables Export, India Consumer Wearables Growth Strategy Market Report, India Consumer Wearables Import, India Consumer Wearables Industry, India Consumer Wearables Industry Research Report, India Consumer Wearables Market, India Consumer Wearables Market Analysis, India Consumer Wearables Market Competition, India Consumer Wearables Market Competition Benchmarking, India Consumer Wearables Market Evaluation Report, India Consumer Wearables Market Forecast, India Consumer Wearables Market Future outlook, India Consumer Wearables Market Growth, India Consumer Wearables Market Major Players, India Consumer Wearables Market Research Report, India Consumer Wearables Market Revenue, India Consumer Wearables Market Revenue Forecasting, India Consumer Wearables Market Shares, India Consumer Wearables Market Size, India Consumer Wearables Market Trends, India Enterprise Wearables Market, India Fitness Trackers Market Consumption, India Fitness Trackers Market Size, India General Purpose Smartwatch Market, India Hybrid Smartwatch Market, India Offline Sales Wearables Market, India Online Sales Fitness Trackers Market, India Online Sales Smartwatch Market, India Online Sales Wearables Market, India Semiconductor Manufacturing Companies, India Smartwatch Market Revenue, India Sports Smartwatch Market, India Wearables Importing Companies, India Wearables Manufacturing Companies, India Wrist Worn Wearables Market, Indian Consumer Wearables Industry, Indian Consumer Wearables Market, Industry Research Report Of India Consumer Wearables, Market Research Report Of India Consumer Wearables, Market Trends in India Smartwatch Market, Noise Wearables Market Share India, North India Consumer Wearables Market, Samsung Consumer Wearables Market Size, Samsung Wearables Production Capacity India, Smartwatch Market Sales Volume India, Social Evaluation Research India Consumer Wearables Market, South India Consumer Wearables Market, Titan Consumer Wearables Market Revenue, Titan Wearables Production Capacity India, Total Wearables Sales Volume India, Wearables Sales Volume India, West India Consumer Wearables Market, Write An Evaluation Report On India Consumer Wearables Market, Xiaomi Wearables Market Share India