2026: Are the channel partners ready for exploring wearables market?

The wearable technology market in India has evolved from a niche segment for early adopters into a mainstream consumer electronics juggernaut, fundamentally altering how Indians interact with personal health data and digital connectivity. While the sector experienced an explosive boom post-2020, fueled by the pandemic-induced urgency for health monitoring, recent trends in 2024 and 2025 indicate a market shifting towards maturation and consolidation. Following years of triple-digit growth, the market is now stabilising, with consumers becoming more discerning about accuracy and utility rather than just novelty.

This shift was evidenced by a temporary correction in smartwatch shipments in 2024, even as the earwear (TWS) segment continued to surge. The democratisation of technology has been the central theme of this narrative; aggressive pricing strategies by homegrown champions like boAt and Noise have successfully undercut global giants, bringing features like SpO2 monitoring, Bluetooth calling, and AMOLED displays to sub-Rs.2,000 price points. This "affordable premiumization" has unlocked the Tier-2 and Tier-3 city demographics, effectively expanding the user base beyond urban metros and turning wearables into essential lifestyle accessories rather than luxury gadgets.

Marketing of the product is a must:

“The most important aspect of any new product today is the way it is marketed. I notice many new products getting launched. However, not many people are aware of that. The end customers are aware of every product that is entering. However, the only challenge for any channel partner is to ensure we bring the right products that match the customer needs”, says Vikas Hisarya of Vishal Peripherals, a leading partner in Hyderabad.

Unlike the smartwatch segment, which is volume-driven by budget players, the smart ring market currently leans towards premium utility. Ultrahuman dominates the landscape, commanding a market share of approximately 36-48% in recent quarters. However, competition is intensifying; aggressive entrants like boAt (holding ~20% share) and Pi Ring (~16%) are challenging this dominance by driving the Average Selling Price (ASP) down. While the ASP hovered around $162 (approx. Rs. 13,500) in late 2024, the entry of budget-friendly options is expected to democratize access further.

Sourcing is the king:

Despite the growth in technology and new means, sourcing is still a challenge for many channel partners. “The Indian channel community has almost become dependent on WhatsApp. Earlier, the challenge was to know who imports which products. However, today, with a click, we can find out the names of the importer. However, the challenge today is different as there are products that are beyond our imagination. Every day, new products with new features are available. As a channel partner with limited resources, it is tough to maintain the trends and technologies.”, says Rajesh T, from VB Systems Chennai. According to him, due to the entry of the Android-based devices, many smart products are moving towards the segment of the mobile dealers, and traditional computer dealers are at a crossroads.

Driving this sustained momentum is a potent combination of rising health consciousness, a young, tech-savvy demographic, and a supportive regulatory environment promoting domestic manufacturing. The initial wave of adoption was driven by basic activity tracking, but the current growth phase is characterised by a demand for holistic wellness ecosystems that integrate AI-driven insights. Indians are increasingly looking for devices that offer actionable health metrics, ranging from sleep quality analysis to stress monitoring, rather than simple step counting.

Furthermore, the "Make in India" initiative and Production Linked Incentive (PLI) schemes have incentivised local assembly, significantly reduced import dependence and kept average selling prices competitive despite global inflation. As the market matures, the focus is expanding beyond wristwear to emerging form factors like smart rings and connected eyewear. This transition signals a future where wearables will not just be passive trackers but active, intelligent guardians of personal health, deeply integrated into India’s digital public infrastructure and insurance ecosystems.

Customers’ expectations decide:

Echoing the same, Nihal Aggarwal from Arseno Tech, Kerala, says that customers are always on the lookout for innovation in every product. “We do both stock-and-sell 

of products as well as back-to-back sales. One major trend I see, mainly with respect to the new products like rings or wearables, is the lack of awareness. There are many brands that are in the market. However, not many are touching the customers directly. Once the awareness increases among the wearable brands, the demand will increase at the partner level.”

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