According to IDC, boAt has surpassed Xiaomi and Samsung, becoming the world’s second-largest wearable manufacturer, trailing only behind Apple

The wearable device market is witnessing rapid growth, with top players like Apple, Xiaomi, Samsung, and Huawei vying for the lead. In 2023, Indian brand boAt emerged as a significant competitor in this global market, as reported by IDC’s Worldwide Quarterly Wearable Device Tracker for Q3 2023.

The report reveals that boAt, operated by Imagine Marketing, has ascended to the second position in terms of global wearable device shipments by volume. In the third quarter of 2023, total wearable device shipments worldwide increased by 2.6% year-over-year, reaching a record 148.4 million units.

Apple maintained its lead with 29.9 million units shipped, accounting for a 29.9% market share. However, Imagine Marketing India, the parent company of boAt, secured 9.6% of the market with 14.3 million shipments. Notably, boAt had previously been ranked fifth globally in Q2 of the previous year.

Bryan Ma, a technology industry analyst at IDC, highlighted boAt’s rise to the second position in global wearables for Q3 2023, emphasizing its focus on earwear and TWS products. Jitesh Ubrani, IDC’s research manager for mobility and consumer device trackers, attributed the growth in wearables to smaller, sleeker designs, with new form factors like smart rings from brands including Oura, Noise, BoAT, and others expected to fuel further innovation and competition.

Xiaomi, Samsung, and Huawei rounded out the top five in the wearable market, with Xiaomi securing the third position with 11.6 million shipments and a 7.8% market share. Samsung followed in fourth with 10.7 million shipments and a 7.2% market share, while Huawei came fifth with 8.5 million shipments, holding a 5.7% market share.

The IDC report also noted a significant rise in the number of smaller brands and emerging categories contributing to the growth in wearables. This increase surpassed the shipment volumes recorded in the third quarters of both 2021 and 2022.

Founded in 2014 by Aman Gupta and Sameer Mehta, boAt has gained immense popularity in India, particularly for its earphones. The brand has also expanded its product line to include smartwatches and speakers, further solidifying its position in the consumer electronics market.