ET BureauNEW DELHI: Xiaomi with its flagship affordable fitness tracker Mi Band has attained a top position with a 27.1% market share in Q1 2016 in the wearable category in India, followed by GOQii and Fitbit, says a research firm International Data Corporation (IDC).
Xiaomi was the top vendor this quarter with the continuing success of its affordable fitness tracker Mi Band. This has helped it in gaining 27.1% market share in Q1 2016, the firm said in a statement Wednesday.
Korean smartphone maker Samsung ranked fourth in the wearable segment with a 2.5% market share, the report said, adding that the company had a 20.4% market share in the smart wearable category.
In terms of units, Xiaomi and GOQii together contributed over 45 percent share, however Fitbit had maximum market value share. The smart wearables have not yet gained enough ground because of the higher price attached to them," Senior Market Analyst, Client Devices at IDC Raj Nimesh said.
Smart wearables remained low at 12.3%, the analyst said, adding that a higher growth rate compared to basic devices is expected in near future. The first two positions were grabbed by Samsung and Motorola while the global leader Apple stood third due to channel-related issues.
"The increase in volume is giving more scope to the vendors to come up with better features such as display and NFC. Both Intex's recently launched Fitrist and Xiaomi's soon-to-be-launched Mi Band 2 come with a display at affordable prices," IDC India Research Director Swapnil Bhatnagar said.
The wearable devices, according to IDC, witnessed an annual triple-digit growth, and similar growth is expected in the near future as well.
"The wearable devices have become immensely popular in the past one year, and more players are expected to make an entry into the market in both the basic and smart wearable categories,” he said.
The expected launch of affordable smartwatches in the second half of 2016 could see a rapid growth in the share of smart devices, Bhatnagar added.
The wearable market was largely driven by fitness bands with 87.7% market share whereas smart wearables, defined as any wearable that can run third-party applications, contributed to around 12.3%, according to the IDC Worldwide Quarterly Wearable Device Tracker report.
Xiaomi was the top vendor this quarter with the continuing success of its affordable fitness tracker Mi Band. This has helped it in gaining 27.1% market share in Q1 2016, the firm said in a statement Wednesday.
The study puts GOQii and Fitbit at second and third positions with 18.1% and 6.2% market share during the in Q1 2016.
Korean smartphone maker Samsung ranked fourth in the wearable segment with a 2.5% market share, the report said, adding that the company had a 20.4% market share in the smart wearable category.
In terms of units, Xiaomi and GOQii together contributed over 45 percent share, however Fitbit had maximum market value share. The smart wearables have not yet gained enough ground because of the higher price attached to them," Senior Market Analyst, Client Devices at IDC Raj Nimesh said.
Smart wearables remained low at 12.3%, the analyst said, adding that a higher growth rate compared to basic devices is expected in near future. The first two positions were grabbed by Samsung and Motorola while the global leader Apple stood third due to channel-related issues.
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"The increase in volume is giving more scope to the vendors to come up with better features such as display and NFC. Both Intex's recently launched Fitrist and Xiaomi's soon-to-be-launched Mi Band 2 come with a display at affordable prices," IDC India Research Director Swapnil Bhatnagar said.
The wearable devices, according to IDC, witnessed an annual triple-digit growth, and similar growth is expected in the near future as well.
"The wearable devices have become immensely popular in the past one year, and more players are expected to make an entry into the market in both the basic and smart wearable categories,” he said.
The expected launch of affordable smartwatches in the second half of 2016 could see a rapid growth in the share of smart devices, Bhatnagar added.
The wearable market was largely driven by fitness bands with 87.7% market share whereas smart wearables, defined as any wearable that can run third-party applications, contributed to around 12.3%, according to the IDC Worldwide Quarterly Wearable Device Tracker report.
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