boAt Makes History; Becomes the World's 5th Largest Wearable Brand
Putting India on the map for wearables!
Ankush Pandey
According to the leading market research and advisory firm International Data Corporation €TMs (IDC) Worldwide Quarterly Wearable Device Tracker for 3Q20 (July-September 2020), home-grown brand boAt Lifestyle has become the world's 5th largest wearable brand based on shipments.
In addition to becoming the fifth largest wearable brand, boAt has strengthened its position in the Indian market by grabbing a third of the market.
According to IDC statistics, the brand sailed through the pandemic to surpass all records, with a 4X increase to 3.3 million devices delivered in the most recent quarter.
Congratulating boAt on this historic occasion, Rajesh Sharma, Executive Director and Principal Advisor at Indian Cellular and Electronics Association (ICEA), €oeIt €TMs a source of great satisfaction and pride for us to see an Indian brand capture one-third of the earwear / mobile accessories market.
We at ICEA have always supported and promoted Indian Champions, and we anticipate that boAt will export its goods abroad. Start-ups in India are competitive and have the potential to be global giants.
To establish India as a global supplier, we must focus on developing domestic R&D skills and pursuing vertical integration across the wearable area."
In a field dominated by major multinational brands, boAt has been disrupting the status quo. It has grown rapidly in little over four years, thanks to its core range of high-quality, smart, efficient, fashionable, and durable audio devices.
Aman Gupta, co-founder of boAt, commented on the global recognition, saying,
We are honoured and amazed by the trust and support bestowed upon us by boAtheads over the years. It is a source of pride for all Indians since it reflects the rising worldwide recognition of home-grown companies. With the help of our government, we hope to become a global lifestyle brand. "We at boAt understand the needs of millennials and will continue to do our best to serve the boAthead community."
