Market Trends of India Smart Wearable Industry
This section covers the major market trends shaping the India Smart Wearable Market according to our research experts:
Smart Watches is one of Factor that Significantly Driving the Market
- With the rapid rise in internet connectivity and digitalization, there is a rise in the demand for wireless gadgets. Some of the key applications that are crucial components of smart wireless fitness devices and are anticipated to meet the customers' most important needs include monitoring and measuring physical activity, sensing the surroundings, real-time data collecting, and communication. AI integration has been a part of healthcare's rapid progress and advancement. AI-assisted smartwatches ensure smart diagnoses and doctors for patient health monitoring.
- The market is growing due to increased investment in strategies for creating smart technologies to assist further healthcare and fitness advancements. A smartwatch monitors and measures daily fitness activities, including steps, calories burned, distance traveled, and others, which are simple. The smartwatch can quickly connect to a smartphone through Bluetooth or wireless communication. The athlete or any consumer can schedule their daily tasks with this assistance. As a result, the growing popularity of wireless sports and fitness equipment is a key factor in the expansion of the smartwatch industry.
- Firms are launching new products or incorporating new features into existing products to meet the customers' demands. For instance, in April 2022, B.Rebel unveiled its first-ever real smartwatch in India, with a sleek appearance and special functions. This smartwatch is the ideal present for anyone who values their health or is a fitness enthusiast. With technological features including heart rate monitoring, sleep monitoring, menstrual cycle tracking, sedentary alert, daily activity tracker, blood oxygen monitoring (SpO2), 11 sports modes, etc., staying on top of fitness routine is simple.
- In May 2022, Researchers at IIT Kanpur created a revolutionary touch-sensitive timepiece that could be extremely helpful for blind and visually impaired people. It has several functions, including displaying health metrics, an instant timer, a reminder to drink water, etc. The touch-sensitive and vibration-based capabilities would prove revolutionary in providing the blind and visually handicapped with a sense of time.
- Furthermore, the company announced on its website in May 2022 that Amazfit GTS 2 New Version launched in India. As soon as the smartwatch is posted on the online store, Amazon India, customers in India can purchase it. The new model shares many similarities with the Amazfit GTS 2 introduced in December 2020, but it should feature a few minor changes. One feature is an enhanced haptic vibration for clearer feedback. Because it can rotate, it is also said to be practical for wearing on both the left and right hands.
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Technological Advancements driving the Market
- The idea of smart clothing may be fairly new, but fashion and electronics have been paired up for some time as part of the supply chain. Fashion goods can now interact with anyone, even customers, due to RFID tags that have been included in them. These tags can take the shape of a paper hang tag, a textile tag stitched into a collar, a button on a sleeve, or a sturdy tag pressed into a shoe's sole. The use of Near Field Communication (NFC), a specific RFID protocol, in clothing is growing. It can be read on any mobile device from a few centimeters away and, when combined with connectable cloud software, opens up new channels for communication between businesses and customers.
- In January 2022, Imagine Marketing, the parent company of the Indian earwear brand boAt, will buy Singapore's KaHa Pte Limited to expand its intelligent and comprehensive wellness wearable ecosystem. KaHa Pte Limited is an end-to-end smart IoT product development firm. With the acquisition, Imagine Marketing will be able to expand its line of wearable products in terms of concept, design, electronic firmware, algorithm development, Android and iOS applications, new feature integration, social engagement, and analytics. Imagine Marketing will also lead in developing a thriving ecosystem for Indian consumers.
- The introduction of new-age technologies has impacted several industries, including healthcare, which has also changed. The healthcare industry has changed significantly since a decade ago. The Covid-19 pandemic accelerated this industry's ongoing digital change, which was already underway. Due to a worldwide health staffing crisis and a general lack of resources, healthcare providers worldwide were forced to employ cutting-edge technology like artificial intelligence (AI) and machine learning (ML) to service the expanding number of patients.
- The adoption of the internet of medical things across healthcare organizations and families is anticipated to be fueled by the expanding popularity of 5G technology and increased investments in creating advanced 5G networks worldwide. IoMT is currently used in various healthcare applications, including MRI scanners, artificial joints, pregnancy test kits, and surgical equipment. IoMT adoption in the healthcare sector is anticipated to increase over the course of the forecast period due to rising awareness of innovative healthcare devices.
- To improve its fighting capability, the Indian military, which has long relied on items made by state-owned corporations for its defense equipment requirements, is increasingly embracing augmented reality (AR) and virtual reality (VR) technologies created by startups. The military forces are collaborating with startups on projects ranging from pilot training to aircraft repair, weapon efficiency improvement, and even making tanks more durable in battle. For example, AjnaLens, a Mumbai-based AR/VR business that raised INR 12 crore in pre-series A funding, designed a see-through armor as an example. The AjnaESAS (enhanced situational awareness system) is a head-mounted display that uses augmented reality and a 360-degree camera to provide the tank crew with a 360-degree horizontal field of view.
