Tag: Watch

  • GOQii Case Study – The new Wearable Tech with Personalised Health Experts

    The pandemic started to spread across the world’s boundaries in about march of 2020. It soon accelerated lockdowns all over the world. Major and minor, both types of cities came to a standstill. Not only this, people were confined to their homes. We spent an enormous amount of time inside our houses.

    Nothing stopped the pandemic too, thanks to technology. Essentials, medicines and other things were shared and delivered with the help of technology. With these advancements, technology came to us as a saviour. The only thing that jumped to the back seat was health. The health of people all over the world took a toll because of excessive screen time and the sedentary lifestyle we all were having during the covid 19. The virus is still not gone and the sedentary lifestyle still continues.

    If you look at the data of shipments of the wearable industry in India, you will notice a steep trend. That graph shows that people are buying products that help them track their health statistics. This in turn means that people are slowly becoming vocal about the fact that their health is the most important asset that they own.

    Many wearable brands are trying to capitalise on this trend of health consciousness. One of the players that are trying hard and equally shining is GOQii. You probably have already heard of this company. It has been very vocal about health and fitness, as they make fitness-related products. This is the article that covers the story of the ‘getting popular’ brand GOQii. Read this to know the man behind this innovation and the mission with which they operate.

    What is GOQii?
    About Vishal Gondal – CEO at GOQii
    How was the Idea of GOQii Conceived?
    Unique Selling Propositions of GOQii
    The GOQii Ecosystem
    User Testimonials (What the users are saying about GOQii)
    FAQ

    What is GOQii?

    GOQii is a fitness technology company. It is an Indian company in the sense that the brand is operated and even was generated by an Indian entrepreneur. However, it is an Indian company, it is headquartered in California. This fitness technology company offers a band of services and products that cover overall aspects of health for a person. It has smart wearable devices (Like a smartwatch or a smart fitness band). That device is coupled with a mobile app that works like the command centre for that wearable device.

    GOQii Smart Watch
    GOQii Smart Watch

    The unique thing about this company working in the health and fitness sector is that it offers a “coach” to every user. GOQii wearables and the android app has ‘personalised remote coaching. They have a team of health experts and doctors that guides every user to optimise his/her health goals. This optimization with each and every user helps maintain a healthy ecosystem in which people derive results.

    GOQii Personal Coach
    GOQii Personal Coach

    We all know or have heard somewhere that, everybody is different, you cannot examine each and everybody with the same instrument. That is when personalised care is needed and that is when the worth of personal coaches and trainers come into the picture.

    They operated under the umbrella of a beta program until 2014 and then they closed it. After the closing of their beta program, GOQii became commercially available in India in August of 2014. It is to be noted that the beta program was closed in April of the same year.

    The company has offices in Mumbai, Shenzhen, China and it hopes to have offices in the Middle East, the United States and Singapore. This venture has been highly trusted by investors of all sorts. Investors include Mitsui, NEA, Megadelta, DSG Consumer Partners, Galaxy Digital, Denlow Investment Trust, Edelweiss, Cheetah Mobile, GWC, Mr Ratan Tata (The OG investor), Mr Akshay Kumar (Popular Indian Actor) and Mr Vijay Shekhar Sharma (Paytm CEO).

    About Vishal Gondal – CEO at GOQii

    Vishal Gondal is a serious serial entrepreneur. We mean it seriously when we say, serious serial entrepreneur. Vishal started coding at the age of 16. He was passionate about gaming and soon started to build games of his own. At that age when a person knows how to code, the only favourable thing he/she codes are games. Those were the early days of the Internet and computers per se.

    It was later in the year 1998 when something really interesting happened for Vishal. It was the time of Kargil and he out of curiosity made a game named “I love India”, and the main purpose of the game was to shoot intruders in the Indian boundary. The game was an instant hit and got over a lakh download at that time,

    In 1998. That was impressive at the time as it is today. Then he got an idea that games that are India made and a little patriotic thematic in nature will go a long way if produced nicely. That was the time when IndiaGames, a venture came into existence. It was the brainchild of Vishal Gondal. Then he worked with venture capitalists and all, took the company from informally a game maker to a big name in the gaming industry. In 2011 Disney bought IndiaGames at a deal of over 100 million dollars.

    That is a lot of money. Most people would take that money and go on a vacation of life. That “most people ” are not Vishal Gondal. Vishal chose to not get stagnant or dormant, he chose to flow in the direction of his passion. His passion other than games is easily guessable, It is fitness and health.

    Vishal moved to the health and fitness sector to work his ideas out. He was also into fitness as all those previous years had a toll on his health because he was working on computers a lot. He affected millions with his games (in a good and thrilling way) and now he did not choose to stay put, but he chose to provide value to the next billion people.

    He enjoys running Marathons, Ultras, Trekking & SkyDiving. His love for the outdoors and pushing oneself physically dates to his growing years when he was a national level volleyball player. Vishal is also a long time TEDster, gadget & gizmo freak and a judge on two television shows ‘The Pitch’ on Bloomberg TV & ‘Your Wish is my App’ on NDTV.

    His passion for technology, fitness & gaming led him to his next venture GOQii which is focused on helping people make a change towards a healthier lifestyle and be the force of good.

    That is why he chose health as the domain for his next venture. He decided to jump on the health sector and that was how GOQii was born, the ultimate health and fitness ecosystem.

    How was the Idea of GOQii Conceived?

    The company was founded by a smart person named Vishal Gondal. He is a super tech enthusiast. He is also the former Chief executive officer of Indiagames. He is a big name in the gaming industry. Made some really successful and critically acclaimed games in the 90s and then the most recent hit FAU-G.

    After exiting the gaming space, with a great dreamy exit from his own Indiagames when it was bought by Disney, he could have enjoyed life anyhow he wanted but he noticed something. He noticed that after all his star career in the gaming space, his health has taken a toll on him. Albeit, He was a fairly sporty person in his college and school time. His love for the outdoors and pushing oneself physically dates to his growing years when he was a national level volleyball player.

    After affecting millions of people with his games in a good and thrilling way, he chose the health sector. When asked why he started working again, he said that he is just a passionate person who is trying to follow his passion of creating value and putting an effect on a billion people.

    His goal is to see people healthy and happy. He plans to make not only people in India healthy but also plans to expand GOQii to a place that will make it responsible for health and fitness for many areas in the world.

    As it is said that software is the most scalable thing in the whole world. Once the worth is proven by GOQii, its software can go overseas and start creating impact there too as it is doing in India. For its future, GOQii plans to expand its services to the Middle East, the United States, and Singapore.


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    Unique Selling Propositions of GOQii

    GOQii is not just another smart wearable brand that promises to track accurate data regarding your health. Vishal Gondal plans to make it much more than it already is. Much more than the world has seen. He wants to evolve the digital fitness industry up to a level that is never seen before. Not to mention, Vishal has high hopes for the wearable industry. He even says that these wearables will soon replace mobile phones in the near future.

    So what is the USP of GOQii? It is a legit genuine question that may haunt you. There are many many USPs of this fitness startup but few most noticeable features are listed here –

    1. GOQii has a full-fledged health-friendly ecosystem.
    2. Personalised health statistics with health experts.
    3. The corporate challenge and User testimonials.

    All these are the most loved unique prepositions that people love. Let us discuss all of them in a little more detail to understand the market in which they operate.

    The GOQii Ecosystem

    We, in the last paragraph’s last line, mentioned an ecosystem of health. That ecosystem is known as the GOQii fitness ecosystem. As we previously read that GOQii manufactures watches and bands and other wearables to provide you control of your health.

    Not only this, but the fitness company also provides all sorts of help from, weather coaches or experts or doctors and nutrition people. That personal coaching aspect of GOQii is the innovation that acts as a USP or a unique selling proposition.

    GOQii Ecosystem
    GOQii Ecosystem

    The ecosystem entails the application which is connected to the smart wearable device that you wear. The tracker is connected and reports all data to coaches, doctors, and experts if you have the subscription. Every Health coach is a certified coach under the company GOQii.

    This environment that they have managed to create is called the GOQii ecosystem. It is a full-fledged place for all your health needs, that is what the company strives to offer. It strives to combine a smart fitness band, an app, a team that is expert and has cared for your health. That team includes a personal health coach, all sorts of designated experts and a Doctor for helping you out to meet the targets that you set for yourself and for the people you love.

    GOQii also plans partnerships with top labs in the domain of diagnostics. It helps you to get recommendations for tests that might help you on the basis of the targets that you need to tough. You can do some of the reports from the comfort of your home and you can then access the reports directly on the app.

    The GOQii ecosystem is designed to keep chronic diseases under control through increased adherence to therapy, lifestyle change and continuous data monitoring. Doctors are adopting this ecosystem for managing chronic diseases of their patients and are seeing great results. It has an app locker that they call a health locker. It is a cloud storage tool. That helps people to save their health records.

    That cloud has unlimited space so that you don’t have to worry about losing your health records. That locker is accessible and can be accessed even remotely via a login and pass. GOQii has tied up with diagnostics labs like Thyrocare, which allow users to book tests directly via the GOQii app. Test results are directly sent to the Health Locker to be reviewed by the GOQii Coach and GOQii Doctor.

    There is one more thing that you get with the GOQii ecosystem. It has a bonus feature called “Karma”. It is quite similar to the real phenomenon of karma. If you do something good, you will receive something good.

    GOQii Karma
    GOQii Karma

    With the ‘Karma’ feature GOQii plans to use the same philosophy for a good social cause. So what happens is, if you walk with this feature, you get points, the more you collect points, the more you can donate to social causes that the company supports. It matches the philosophy of the whole wearable brand of “Be the force”.

    Personalised care with health experts

    GOQii runs on two models, that too simultaneously. It has the main product domain, which is the smart wearable technology that it advertises with Akshay Kumar. The other domain is the personalised health coaches support. This is the back end sort of thing and you can only experience it with a subscription that you can buy with the product itself.

    Both these packages combined help in building a rapport with your own health. The best thing about the combination of health and technology is that it is capable of providing personalised results and guides and suggestions to the person using it.

    As we all know, people love personalised tech. Like we love Netflix recommendations, and the social media algorithms to work on personalised tech. This is very recently made possible with the help of new and efficient technology for maintaining data, big data. It is a field that deals with extracting data and making sense of large amounts of data. It is true that data is the gold of the 21st century.

    GOQii Corporate Challenge

    GOQii Corporate Wellness Program
    GOQii Corporate Wellness Program

    One of the most stuck starts of people who are not living a healthy lifestyle at all is the corporate people. The pressure to rise up at the corporate level makes them sit for long hours and thus deteriorates the health of these hard-working people. We can easily see and witness all around us that corporate people are the most prone to health discomforts.

    GOQii has innovated a cool thought in this area of life. The fitness company organises a corporate challenge every now and then. The corporate challenge is a sixty-day fitness event. So, it spans about two months in total. This corporate challenge includes daily virtual and fitness sessions that are corporate-friendly.

    Corporate friendly exercises means those sorts of exercises that can be performed in a short space and with low intensity of work done or effort induced. This allows all the employees to walk, get active, increase their fitness levels and make a positive move towards living a healthier lifestyle. Moreover, it is all in the app, a single application that entails everything for your health.

    GOQii Health quiz

    GOQii Health Quiz
    GOQii Health Quiz

    Not only the corporate challenge, but GOQii also has hosted a series of health quizzes in the past. The motive of these quizzes was to improve the general knowledge about health. It is often seen in our society that we tend to believe some myths and misconceptions of the fitness world.

    The goal of these health-related challenges and quizzes is to bust the myth around health and common fitness in society. Moreover, GOQii has taken a step further than just casual challenges and quizzes of stagnant general knowledge, it now hosts experts that debunk myths around health.

    If you visit their youtube page, you will find a plethora and plenty of videos that are hosted by health experts, personal health coaches, doctors and nutritionists. This sort of clear and unbiased knowledge is freely available, this is a great initiative by Vishal and the team at GOQii. It helps build a rapport with users who are truly willing to do the actions required to meet their health and fitness goals.

    GOQii Arena

    GOQii Arena
    GOQii Arena

    The GOQii social feature lets you discover and make new friends, share your habits, goals, health & fitness stories, as well as motivate each other! It helps you build communities of like-minded individuals who share similar goals with GOQii users within the app in your region.

    GOQii Health store

    GOQii Health Store
    GOQii Health Store

    The GOQii Health store is a one-stop online health store that offers a whole suite of curated health products and services. These products are tested for quality by our experts before being launched in the store. You can also redeem your GOQii Cash for discounts on listed products.


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    User Testimonials (What the users are saying about GOQii)

    The GOQii watches went on from a beta version to a full-fledged company in April 2014. It is still somewhere in the middle phases of growth in India. As we all know that India is a very big country and global brands are fighting very hard to establish themselves in our country.

    GOQii is one of the native brands that is trying hard to speak up among such massive competition from global brands. One of the best ways to look at the quality that the brand creates is by checking its testimonials. Let us see what people are saying about the GOQii ecosystem.

    User Testimonial of GOQii
    User Testimonial of GOQii

    “Rahul Pandit gets off medication and gets healthier with GOQii” read an article on a website. This is an article that was listed on the blog that the GOQii team manages. The blog has all the success stories of fat to fit and healthy and happy people who have used the product and the support of coaches from GOQii.

    This proves that there are actually real stories that are transformed with products and services that GOQii strives to provide. The blog not only contains success stories but the blog tries to become a companion in someone’s fitness journey. It entails all the healthy tips, tricks, recipes that will help people get from a bad shape to probably the best shape of their lives.

    A comment on GOQii's youtube channel
    A comment on GOQii’s YouTube channel

    This is a user testimonial that typed words on Youtube. He is thankful for how he found GOQii and how it has become a part of his life. This is one example but there are plenty more. GOQii has many people supporting it and making it an established brand.

    Akshay Kumar, the actor and probable epitome of fitness in India is the brand ambassador of this company. As it gets more and more views and subscriptions, one thing is sure, that if GOQii is able to stand the market in India, then probably it can win most of the world.

    Conclusion

    Being healthy involves a lot of factors other than just exercise. You need to watch what you eat, get quality sleep and manage stress effectively as well. With a lot of foreign brands trying to provide value in this space, there are very few Indian brands that are trying to enter and establish themselves in this market.

    GOQii is one of them. It strives to provide a full ecosystem for health and fitness. It has personalised coaches, health experts and all sorts of advantages that the wearable tech industry has to offer.

    GOQii was started with the same goal in mind. That goal was to make a billion people happy and healthy. The focus is primarily on India. GOQii, a collaboration of some of the world’s leading experts and an amazing management team who are driven by a passion for healthy sustainable living, and who believe that all of us contain boundless potential.

    GOQii’s goal is to enable millions of people across the world to “be the force” by helping them unleash their untapped potential. The passion with which Vishal and team manage and build products for India, Is the fuel for such ventures. All these steps will lead to a healthy and happy India.

    FAQ

    Who is the founder of GOQii?

    Vishal Gondal is the founder and CEO of GOQii.

    What is the revenue of GOQii?

    The revenue of GOQii was ₹220 million as of 2019.

    Is GOQii an Indian company?

    Yes, GOQii is an Indian company founded by Vishal Gondal, the company is headquartered in Menlo Park, California.

  • Indian Wearables Market – A Comprehensive Study of the Growth of Wireless Industry

    As we develop multi-folds in the direction of technological advancements, we leave enormous amounts of things behind this trail. Yes, of course, leaving unnecessary things behind is a good way for going ahead in life. As technology gets more and more compact, we are witnessing the devices also get more compact. Data transfers are fast and now happen at unbelievable speeds. All these advancements are taking us to the new future, the future that is wireless.

    Wires are a thing of the past now. Who knows them? What are they? this might not be a valid question today but for real, who knows the future? we might be talking about them in stories only. Like we talk about floppies, telegraph, and analogue television. We live in a wireless world now.

    With the onset of the covid 19 pandemic and the spread of social distancing norms, we all are witnessing more wireless stuff than ever. Wireless is not even the near future, it is already here. Not only this it has transformed into multiple forms, like those of wearables.

    What do you Mean by Wearables?
    How Does This Wearables Technology Work?
    India and the Wearables Industry
    Leading Brands/Players in Indian Wearable markets
    Advantages of Wearable Devices
    Key Challenges in the Wearables Industry
    FAQ

    What do you Mean by Wearables?

    Technology was in your hands in the form of smartphones, but now it is getting smarter and has even managed to enter your humble wardrobe. As devices are getting diverse in features they provide, they are also turning into something that can be worn. That is what we mean by wearables.

    They are wireless gadgets with an inbuilt battery to support themselves. It can be a smartwatch, a fitness band, a wireless earphone, a smart pair of sunglasses and many more. These gadgets have already flooded the tech market in all forms, shapes and sizes, heavily democratising the market.

    They are the new trend. I use the word ‘trend’ here because they are used more in a fashion sense rather than being used as a convenient device. The fight between the idea of “need to have” or “nice to have” always goes on. You will find people saying a lot of things about both the arguments everywhere. There cannot be a single accepted conclusion.

    In Fact, the way they have entered the market is a unique way and it tells a story when we trace it. Smartphones were not considered something that was needed when they were just starting out. Feature phones were the ubiquitous devices that everyone used to call each other.

    Soon when people saw these little palm handed devices, they were in awe. Curiosity drove them to these and smartphones made the magic spell work. The result was that humans fell in love, so much so that it is now a necessity for everyone to have a smartphone. This is the point in time when wearables are at their initial beginning, and they’re already flooding the market.

    How Does This Wearables Technology Work?

    We can say that wearable devices were present for a long time. Their instances have to be said from the very past of eyeglass discovery. When eyeglasses were popularised, people saw a new perspective of gadgets that can be worn.

    Many years after that, when we have evolved technology so far and tiny, this tech is returning with big hope. Now, we can incorporate nano-transmitters coupled with an internet connection to a handheld device. These microprocessors are no less than a computer and can perform almost all the smart functions of a computer bigger in size.

    Also, the growth in the domain of smartphones also helped the development of smart wearables. The betterment of mobile networks helmed the development of the wearable industry. That being said, fitness trackers were the first kind of wearables that were popularised around the world. The moment they became famous and made their own market, more features and forms got into the market. The humble wristwatch evolved to incorporate a screen into itself.

    Wired headsets went on to rethink their purpose and Bluetooth headsets took their throne. A simple sunglass also was taken hostage by more smart and web-enabled glasses that could do more than just being sunglasses. The gaming industry was also stormed with virtual reality headsets and augmented reality screens and wearables.

    India and the Wearables Industry

    Smartphones in India and elsewhere started as an item of luxury and wasn’t really something that everyone could own. This situation saw a drastic change as technology penetrated deeper and deeper roots in India and everywhere else. This change can be observed quite easily. There is however a very good chance that smartphones could become a thing of the past in our future.

    “Smart wearables are not just something that you can wear on your wrist and it will perform basic already told functions but it will be much more than that. In maybe three to five years this will replace smartphones and phones will be obsolete by then”, says GOQII’s chief executive officer, Vishal Gondal

    The above sentence is proven right with these numbers. India’s wearable market grew about 93.8 per cent year on year in the July to September quarter, this year. India shipped 23.8 million units. Moreover, all these skying numbers are despite tough logistics challenges, increased freight charges, aggressive vendors at the other end.

    India Wearables Industry
    India Wearables Industry

    A famous wearable, smartwatch remained a heated up category all the way. It saw 4.3 million shipments in India in the third quarter. Wristbands or the infamous fitness bands saw a decline, IDC reports said.

    This is what people are feeling about smart wearables. This really is looking like something that will most probably shape the future of technology in India.

    Let us talk about some numbers in this rising trend. Before we go into the shipments and surge in demand for these tech wearables in India, we need to know about the information provider.

    May 2021  

    The wearable market in India grew about 170.3 per cent on a year over year basis in the first quarter of 2021 (January to March). India saw a shipment of 11.4 million units according to the International data corporation, IDC.

    The first quarter of 2021 also saw a surge in the domain of the watch and earwear category. Watches saw a growth in demand up to a wonderful 463.8 per cent year on year basis in the very first quarter. Comparing both the demand for earwear and the watches segment watches had a higher share of magnitude in numbers.

    Even with that partition, earwear has managed a handsome three-digit growth in the first quarter. All these wearable surges show how people are reacting to the health situation in India. We are all more vocal about our health than ever.

    August 2021

    Following the previous growth trend, wearable grew even more by now. It saw a massive growth of about 118 per cent on a YoY basis (Year on year) in the second quarter of 2021 (April to June). It also saw a shipment of 11.2 million units of wearables, according to the recent IDC data. Watches continued to be the fastest-growing segment in the world of wearables and covered up to 81 per cent share in the write wear domain.

    The category of wristwear grew at 35 per cent from that of a year ago. Another important trend that was seen was due to the COVID 19-second wave. The second wave impacted the overall wearable shipments by about 1.3 per cent in the second quarter of the year. This slump however did not impact vendors because they know that the demand will rise again once the situation is normal. So they tried to stockpile for next quarter.

    Over the quarters, the smartwatch form factor seems to be appealing to the consumers, and Indian brands have been quicker to leverage this trend and align their device portfolio.

    November 2021,

    IDC’s report mentioned that India’s wearable market grew by 93.5 % year over year (YoY) in the third quarter (July to September). India saw shipping of 23.8 million units to its borders. In the third quarter, the growth can be seen even with the fact that logistics was hard and freight costs were increased after the decline in covid 19 cases.

    In the month of September, the shipments saw a surge that surpassed 10 million. This was a record growth in wearable devices in the face of the month-long festival season in India. India’s favourite wearable in terms of shipments was again the category of smartwatches. Watches continued to be the fastest-growing pace at 4.3 million shipments in the third quarter.

    While wristbands or fitness bands saw a decline consecutively for the seventh quarter. Other than that TWS (Truly wireless) came into the big picture, by reaching a 39.5 per cent share of earwear in the third quarter. However, the ear market is seen to be dominated by over-ear and tethered gadgets.

    “The proliferation of new entrants in the mass market segment has increased competition, putting a lot of pressure on brands to differentiate in a market that is getting inundated with lookalike products,” said Jaipal Singh, Research Manager, Client Devices, IDC India.

    “Celebrity endorsements are a key tactic for brand recall. However, to maintain the growth momentum they must invest more in newer designs and aesthetics, as well as newer collaborations with existing franchises, Singh further added.

    All these trends point to a booming future in the land of this diverse country, India. There are many reasons why this type of technology is a hit in India, they are convenient and easy to use in any field domestically.

    In a developing country like India where tech is still getting bigger, this technology seems to be driving the growth. Let us see how this field is becoming the trendsetter in India, and thus the advantages it provides to the general tech-savvy public.


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    Leading Brands/Players in Indian Wearable markets

    Even if you are not a fan of the wireless movement, you will notice some brands that shine all over the place. Yes, we can call this time “The wireless movement” where everything is going wireless. Now we will talk about some brands that are the top players in this market segment.

    Even when you think you are away from these names, you will hear them from your friend or a friend of a friend. These brands have made their presence heard, quite literally. The brands that are leading the wearables market in India are listed as follows.

    A Gurgaon based company leads the sales and revenue for the sixth straight quarter of the smart segment wristwatch market. That company is “Noise”. Noise is able to create a sound in its wristwatch segment this year. It had about 26 percent of the market share in the quarter that ended on September 30.

    After Noise, the next brand is an Indian brand that primarily manufactures audio devices, but also got into the smartwatch segment. “Boat” is that brand after the 26 percent share of Noise, it has more than about 23 percent share of the whole watch industry. After these top two brands, there are several others who are cashing on the growing demand.

    The third, fourth and fifth name according to the market share is Fire-Boltt, Realme and Zepp (Amazefit). All these brands are combined covers the hundred percent of shipments that came to Indian borders this year.

    After we talked about the watch market, now is the time to jump on another trend. That trend is most recent to get hyped among millennials. That wearable is the Wrist band, or commonly known as the fitness band.

    After the pandemic refused to go back, people became super conscious of their health. They choose health over anything else and of course life over death. Among the new year resolutions, this segment also saw a jump in sales. Let us see who are the masters in this product segment,

    Top Wristband Companies
    Top Wristband Companies

    Xiaomi undoubtedly rules the Indian wristband industry. The reason is the affordability aspect of their products. Xiaomi bands are easy on the pocket and do most of the work that a fitness tracker does. It has scored decent marks in all the spheres where people want it to perform. This is the biggest reason why Xiaomi alone covers almost 50 percent of all the market share of this product segment.

    Followed by the Chinese Xiaomi, Titan ruled the market with a share of about 16.5 percent which is a subsidiary of Tata. Titan has made its place in people who like a little luxury, they have provided value over the past years consistently to increase customer loyalty. That is the reason why they now cover 16 percent but it has declined from the Q2.

    Then comes the OnePlus, the brand that is originally a startup but has managed to own brand equity and great goodwill. OnePlus is seen as the premium segment of smartphones and wearables. It is the reason why it has seen a jump in market share from quarter 2 to quarter 3.

    The wearables market is not complete if we do not talk about the earwear product segment. Ear Wear products include all ranges of sound devices. It includes headphones, earphones, and everything that has to do with sound. This product segment has also seen immense growth in the recent past. Let us see which brands rule this product segment,

    Top Earwear Companies
    Top Earwear Companies

    Imagine marketing or the famous brand “Boat” is the top player in the earwear industry. The marketing is so smooth and viral that it covers almost about half the total Earwear market (shipment of units). Not only this, Boat has managed to increase the market share from about 45.5 percent in quarter 2 to 48 percent in quarter 3. This proves how people love products from Boat and how it delivers on the value that it stands for.

    Next in the line is Realme, it is also a famous brand but it lags much behind Boat in terms of market share this year. Realme has to work hard to gain more market share next year. Then there is the premium smartphone producer OnePlus that has its Oneplus buds in the market and is quite famous among brand enthusiasts.

    Samsung saw a decline and went from 7.9 percent of market share in quarter 2 to 5.3 percent market share in quarter 3. Ptron became a little famous but the growth seems to be declining for the brand.

    It is to be noted here that even though most of the market is covered by these key players, there is still about 27 percent of the market that is free. That 27 percent of the market is owned by other brands that are not mainstream. This creates enough space for the above-mentioned brands to work harder and poach more market share for themselves.

    Seeing the current trend we can predict that these brands are already fighting for more market share for the bright future in India.


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    Advantages of Wearable Devices

    While they are compact and pocket friendly, they may raise concerns over the effectiveness and efficiency of these gizmos. That is quite a legit question which we will be covering in this paragraph. For example, Smartwatches can help people with Parkinson’s disease track symptoms and then transmit the data to authorities, so that more personalised treatment plans can be developed.

    We will see here how these devices are changing how we track, move and live our everyday life. Read on to remind yourself how useful these apps are.

    Fitness tracking

    Smartwatch
    Smartwatch

    As watches and bands have conquered the market, the most famous purpose for wearables is to track fitness norms. It is however to be noted that we are talking mainly about smartwatches and fitness bands. They help in tracking calories, steps walked, heart rate, blood spo2(Oxygen level) in some pro gizmos and many more. It helps all the fitness freaks stay on track and be honest about their calorie intake. This also helps as a motivator for workout sessions.

    Location and direction

    Smartwatches in these times also have a feature of maps. They can help provide accurate direction and location services, that too without looking at your phone screen again and again. This helps for people who are mostly on road or travelling often.

    Portability (Hands-free)

    The most useful aspect of all the best features is the portability of these devices. Portability is the ability to be portable, that can be taken anywhere without much of a hassle. Whether you are using a truly wireless headphone or a smartwatch, this feature is the prime one that comes in handy. It lets you move freely and you can now do more activity than before.

    Wireless Headphone
    Wireless Headphone

    Here the winners are the headphone segment as wireless is winning every now and then. If you are in a gym, running or doing any physically taxing work then being hands-free or portable feels really helpful. That is why people are forgetting wired earphones or headphones and buying earwear that is wireless.

    Key Challenges in the Wearables Industry

    There are many challenges in this field of technology. We have made it possible for devices to be that small that can be worn but still there is some time left to truly reach a point in time of efficiency.

    There have been notable failures too like that of Google Glasses. With these failures, it raises questions of feasibility in this segment of products. While the future of smart glasses is in an uncertain circle and that too we will have to see by ourselves. There are however more universal problems for smart wearables that have to be constantly tackled to provide value uninterrupted.

    Battery Life

    Due to the compact size of these devices, it is relatively harder to put batteries in there. Thus, they have to rely on smaller batteries that are easily discharged if not taken enough care of. Moreover, as these wearables get smarter and smarter, they get more features than before, which is also a load on the battery. It is not a new issue but an age-old issue with consistency. However, brands are trying their best to tackle this problem.

    Inaccuracy

    This is a highly debated issue but the news and further testing and testing tell us that there can be inaccurate information on your wearable screen. That little compact device may not be able to fully function as the big machine for a purpose. For example blood oxygen data or heartbeats information can be a little inaccurate.

    Sync Issues

    Larger brands with deep pockets don’t have these issues. But however, the market being open and everyone trying to tap the potential in this sector has enabled issues in the working of wearables. A brand like Apple cannot afford to have even a little problem with their devices like its watch series or Airpods.

    Apple Watch
    Apple Watch

    Trying to be like big brands, have led companies to just release stuff without proper user testing. Sometimes, there are syncing issues or irregular syncing with wearables like wireless earphones and smartwatches.

    Data security and privacy issues

    With the internet being the place where now most people live, privacy concerns are at an all-time high. With compact devices all over the place, this has further widened. Moreover, with the presence of China as a key player in the fitness band range, a red alert on privacy can be seen. We are not really sure about how companies use our data, what purpose that data fills and how it can be used in future. Our data ownership is being shared with big corporate technological giants and we have to be cautious of this act.


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    Conclusion

    Technology was in your hands in the form of smartphones, but now it is getting smarter and smaller and has even managed to enter your wardrobe. As devices are getting diverse on the basis of features they provide, they are also turning into something that can be worn. The demand is massive in this sector. These smart wearables can be multi-purpose. The hands-free nature of these devices acts as the prime differentiating factor from other heavy/bulky gadgets.

    They are changing and getting smarter, Microchip implants are now being used to replace keys and passwords. They are placed on your fingertip and the chips use near-field communication (NFC) or radio-frequency identification (RFID). IDC reports forecast good demand generation in the future for their smart compacts. There exists also Indian players like that of ‘GOQII’ in line who are trying to tap this huge potential. Whatever the future holds, one thing is for sure that it is interesting.

    FAQ

    What are the leading brands in the Indian wearables market?

    Noise, BoAt, and Realme are some of the leading brands in the wearables market in India.

    What is the market size of the Indian wearables market?

    India’s wearable market grew 93.8 per cent year-on-year (YoY) in the July-September 2021 quarter.

  • Most Profitable Leather Business Ideas

    The leather industry occupies a place of notability in the economy of most countries. The demand for the leather goods industry has grown with customer demands for new designs and creative fashionable leather products. Due to the huge potential for employment, growth, and exports, the demand for the leather business is growing rapidly. According to IBEF, The Indian leather industry accounts for around 12.93 % of the world’s leather production. The leather industry is spread across different segments namely tanning and finishing, footwear and footwear components, leather garments, leather goods including harness, etc. Leather business ideas can be developed as a profitable venture on a small and medium scale basis as well.

    Facts about the Leather Industry in India
    Strengths of Indian leather Sector
    Most Profitable Leather Business Ideas

    Conclusion
    FAQs

    Profitable leather business with low investment

    Facts about the Leather Industry in India

    According to the Department for Promotion of Industry and Internal Trade (DPIIT), India’s leather industry has attracted $ 215.21 million in foreign direct investment equity inflows from April 2000 to March 2021.

    If the question on your mind is, “Is the leather business profitable?”, here are some facts about the industry to help you decide:

    • Footwear export accounts for a 45.82% share. India has produced 1.8 billion units and is expected to produce 3 billion units by 2024.
    • India’s total leather export stood at US$ 5.07 billion in 2019-20. From April 2019 to March 2020.
    • The tanning industry accounts for an annual production of about 3 billion sq. ft.
    • India is the second-largest exporter of leather garments, third-largest exporter of Saddlery & Harness in the world and 4th largest exporter of Leather Goods in the world.

    The global leather goods market size has reached USD 407.92 billion in 2021. Total leather and leather products exported from India stood at US$ 5.07 billion in 2019-20. India shares 9% of the world’s footwear production. India is the second-largest footwear producer after China. India is also the second-largest consumer of footwear after China. This article will help you in finding out the most trending leather business opportunities.

    Share of Leather Products (2020-21)
    Share of Leather Products (2020-21)

    Strengths of Indian leather Sector

    • Own raw material source – About 3 billion sq ft of leather produced annually
    • Some varieties of goat/calf/sheep skins command premium position
    • Strong and eco-sustainable tanning base
    • Modernized manufacturing units
    • Trained / skilled manpower at competitive wage levels
    • World-class institutional support for Design & Product Development, HRD and R & D.
    • Presence of support industries like leather chemicals and finishing auxiliaries
    • Presence in major markets – Long Europe experience
    • Strategic location in the Asian landmass

    Most Profitable Leather Business Ideas

    Leather Watch Band Making

    The leather watchband is considered especially as a B2B product. It takes around 45-60 mins to complete each strap depending on the level of expertise and comfort of working with leather. If you care for your leather strap watch carefully, it is likely to last longer and maintain its value.

    The main things you will need to start making leather watch bands are :

    • Leather
    • Cutting mat
    • Cutting tool
    • Cutting edge
    • Leather punch
    • Needle
    • Suitable thread
    • Watch hardware (buckle and spring bars)

    Leather Garment Making

    Fashion consumers are becoming more conscious of the environment. Consumers are rapidly aligning towards new designs and innovative leather offerings to ensure they are in sync with challenging fashion trends. Leather manufactures are trying to produce more sustainable products by prohibiting harmful dyes and chemicals.

    They prefer the following facilities before starting a leather garment:

    • Eco-friendly material
    • Conservative use of resources
    • Reduced emission pollutants
    • Greater social commitment
    • Fair treatment of employees

    Leather Bag Making

    The leatherback making business can be started with little capital and from home. Once the bag has been completed it is given a coat of mustard seed oil, which helps nourish the leather, helps waterproof it, and further deepens the rich tan color. You can come up with a variety of designs that you can get into manufacturing or retailing.

    Basic leatherworking tools and materials are as follows:

    • Some 2mm veg-tan leather
    • Swivel knife
    • Stamp tools
    • Quality 2mm lacing
    • Linen
    • Lacing needles
    • Leather dyes
    • Hardware(rivets, buckles, keepers, and a closure)
    • Contact adhesive

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    Leather Shoe Making

    Ladies footwear is an essential item in women’s apparel. The variety includes slippers, sandals, sports shoes, high-heels, etc. You can start a ladies’ footwear manufacturing business from home. By finished leather as raw material, any individual can initiate this business on small scale basis.

    The first thing you need to start this process is a shoe last. The leather shoe making business is involved in several activities. It is very much important to have adequate knowledge about the process and the current market trend. Today shoe factories handle the various stages of production.

    The steps which are involved in shoemaking are below:

    • Designing
    • Shoe lasts
    • Stamping
    • Sewing
    • Assembling
    • Shoe room

    Leather Crafts Item Making

    India is famous for its leather products and the most profitable leather crafts are manufactured in West Bengal. These products are generally decorated with traditional designs and patterns. The modern-day leather craft in India has become a big industry. Items like shoes, jackets, lampshades, pouches, bags, belts, wallets, stuffed toys, book covers with decoration, ladies’ accessories, hair accessories, wall hanging, clutch or purse, pet collars, key chains, etc. made from leather are exported from India in large quantity. Different regions in India are famous for their unique style and pattern of leather products.

    Leather Furniture Making

    Leather furniture at a retail store may be out of your price range. With little hard work, you could have custom leather furniture in your home for a fraction of the cost. There are two options for your leather furniture from scratch and reupholstering your existing furniture. Two major segments include this industry. One is the sofa and other furniture or home décor items for domestic purposes. Another is seat or seat covers in the automobile industry. This is an excellent leather business opportunity!

    Leather Promotional Product Making

    Promotional products are branded with a specific logo that serves the purposes of marketing campaigns. These products are customized for the company especially and have their logo on them. Day by day marketing strategies are improved, the use of promotional products is a new thing now that is expanding rapidly. Some products which are significantly popular in the promotional gift are laptop sleeves, keychains, keyrings, leather portfolios, leather bags, leather briefcases, leather sunglasses cases, leather wallets, leather purses, etc.


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    Leather Jewelry Making

    Leather is always a stylish choice for designs in jewellery. Jewellery making is another business idea. As leather is already a very pretty popular material in itself and it also makes some awesome jewellery items. Leather jewellery items such as necklaces, bracelets, bangles, earrings, friendship bands, wrapping bracelets, and bangles, etc.

    Leather Safety-Shoe Making

    Leather is certainly the most important material involved in the production process of safety footwear. Safety shoes are shoes that are made for the safety of the individual that works in extreme conditions.

    Types of leather in safety footwear:

    • Full-grain leather – It is part of the most outer layer of the skin, the most elastic and breathable of all.
    • Printed leather – It is the middle layer of the skin. It’s very sturdy but less breathable.
    • Nubuck leather – It is the most outer layer of the skin, slightly brushed and with moderate resistance to scratches and hits.
    • Suede leather – It is part of the middle layer of the skin. It has the best durability and the least water resistance.

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    Leather Winterwear

    Leather winter wear is the biggest industry. People using leather as jackets is very popular. Various winter wear options are famous in the leather business industry such as jackets, coats, leather high boots, leather pants, etc. Leather gloves have also done significant progress as a business plan. Leather gloves are famous among both men and women and come in different shapes and sizes. There are various types of gloves such as biker gloves for gripping, winter gloves, open finger gloves, closed finger gloves.

    Conclusion

    The Government of India had identified the Leather Sector as a Focus Sector under the Make in India’ program. The Government is implementing Various Special Focus on Initiatives under the Foreign Trade Policy for the growth of the leather sector. With the past industry performance, the industry’s inherent strengths of skilled manpower, innovative technology, increasing industries, the Indian leather industry increases its production. And if you start this leather business you will get more profit also in the upcoming days the growth in the leather industry will be very much.

    We hope this article helped you to get ideas on how to start a leather business in India! Remember, there are several leather-based small scale industries out there too!

    Also read: List of Government Schemes To Support Startups

    FAQs

    What are the most profitable leather business ideas?

    Some of the Most Profitable Leather Business Ideas are:

    • Leather Footwear Manufacturing
    • Leather Bag Making
    • Leather Furniture Making
    • Leather Crafts Item Making
    • Leather Watch Band Making
    • Leather Garment Making
    • Leather Gloves & Mittens Making
    • Leather Export Business

    Is leather a good business?

    Leather is a durable product and looks stylish. This makes leather business capable of remaining functional and upmarket for many years.

    What are the top leather manufacturing companies in India?

    Some of the Top Leather Manufacturing Companies in India are:

    • Farida Group
    • Lakhani Armaan Group
    • Liberty Shoes Ltd.
    • Metro Brands Ltd.
    • Mirza International Ltd. ( Red Tape)
    • Relaxo Footwears Ltd.