75% CAGR for wearable electronics in India
According to Euromonitor, wearable electronics in India is expected to surge during 2016-2020 at a CAGR of 75% in volume terms, while sales are set to grow at a CAGR of 67% at constant 2015 prices. Autonomous wearable electronics will soar at the stronger CAGR of 93% in volume terms and at a CAGR of 74%. Wearable electronics grew by 115% in volume terms and by 105% in current terms in 2015, which was due to coming from a low base. Growth was due to increased interest in fitness and the higher visibility of such products in online stores. Although growth potential was even higher, this was not realized due to low awareness, a low perception of benefits and high prices for price-sensitive Indian consumers. Industry-wise, internet retailing is impacting sales of consumer electronics through bricks-and-mortar stores across India.