India smart band market is forecast to grow at a CAGR of 41% by 2023, on the back of growing health awareness, rising population of tech-savvy people and booming Internet of Things (IoT) market. With technological advancements and shrinking chip size, price of smart bands is expected to decline over the coming years, which in turn, would aid the country’s smart band market. The trend of smart watches as a fashion accessory, in addition to rising popularity of hybrid watches, increasing penetration of internet and growing e-commerce industry are anticipated to positively influence the smart band market in India during the forecast period.
Years considered for this report
Historical Years2013-2016
Base Year2017
Estimated Year2018
Forecast Period2019-2023
Objective of the Study
- To define, segment, describe and forecast India smart band market on the basis of product type, category, region and company.
- To analyze and forecast India smart band market size.
- To scrutinize the detailed market segmentation and forecast the market size, in terms of value, by segmenting India smart band market into product categories, namely, fitness bands and smart watches.
- To identify the drivers and challenges for India smart band market.
- To strategically profile leading players operating in India smart band market.
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Some of the major players operating in India smart band market are Samsung India Electronics Pvt. Ltd., Xiaomi Technology India Private Limited, GOQii Technologies Pvt. Ltd., Fitbit India Private Limited, Motorola Solutions India Private Limited, Apple India Private Limited, Garmin India Pvt. Ltd., Sony India Private Limited, Fossil India Pvt Ltd, and LG Electronics India Pvt. Ltd. among others.
Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of country wide smart band providers. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research was able to include smart band companies which could not be identified due to the limitations of secondary research. Market Insights Research further analyzed the service offerings or variants and regional presence of major smart band providers across the country.
Market Insights Research calculated India smart band market size using a bottom-up approach, where data for different components for standard application was recorded and forecast for the future years. Market Insights Research sourced these values from industry experts and company representatives and these were externally validated through analyzing historical data of smart band providers to arrive at the overall market size. Various secondary sources such as company websites, annual reports, World Bank website, government websites, press releases, company annual reports, white papers, investor presentations and financial reports were also used by Market Insights Research.
Key Target Audience
- Smart band manufacturers and suppliers
- IoT providers and watch manufacturers
- Healthcare sector and fitness centers
- Associations, organizations, forums and alliances related to smart band market
- Government bodies such as regulating authorities and policymakers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as smart band companies, distributors and policy makers. The report would aid the stakeholders in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market segments.
