boAt emerges as the second-largest wearable manufacturer in Q3 of 2023

The global landscape of wearable devices is experiencing rapid evolution, with industry giants like Apple, Xiaomi, Samsung, and Huawei competing for dominance. However, in 2023, a prominent Indian brand has surged to prominence in this dynamic race. According to the IDC Worldwide Quarterly Wearable Device Tracker Q3 2023 report, boAt, the audio and wearable brand under Imagine Marketing, has secured the second position in the list of the largest wearable device manufacturers by volume, following Apple. The report highlights a 2.6% year-over-year growth in worldwide wearable device shipments during Q3 2023, reaching a record high of 148.4 million units. With 14.3 million shipments, boAt captured 9.6% of the market share, positioning itself as a formidable contender. Jitesh Ubrani, a research manager at IDC, notes that the surge in wearables is primarily driven by the emergence of smaller and sleeker designs, with newer brands like boAt contributing to this trend. In contrast, Xiaomi secured the third spot, Samsung claimed the fourth, and Huawei settled in the fifth position. The IDC report also indicates that the total volume of wearable device shipments in Q3 2023 surpassed both Q3 2021 and Q3 2022, showcasing the significant growth fueled by smaller brands and emerging categories.