boAt Creates History; Becomes 5th Biggest Wearable Brand in the World
Placing India on the global wearables map, home-grown brand boAt Lifestyle became the world's 5th largest wearable brand basis shipments as per the leading market research and advisory firm International Data Corporation’s (IDC) Worldwide Quarterly Wearable Device Tracker for 3Q20 (July-September 2020).
In addition to becoming the 5th largest wearable brand, boAt has also solidified its position in the Indian market by capturing 1/3rd market share.
According to IDC data, the brand sailed through the pandemic to break all records and has witnessed a growth of 4X to reach 3.3 million units shipped in the last quarter.
Congratulating boAt on this historic occasion Rajesh Sharma Executive Director and Principal Advisor at Indian Cellular and Electronics Association (ICEA), “It’s indeed a matter of great satisfaction and a proud moment for us to witness an Indian brand capture the one-third of the earwear / mobile accessories market.
We at ICEA have always been supportive and promoting Indian Champions and, envisage boAt to export its products globally. Indian start-ups are competitive and have the potential to become global leaders.
We need to focus on building capabilities in domestic R&D and undertake vertical integration across the wearable space to establish India as a global supplier".
boAt has been challenging the status quo in a sector dominated by established global brands. It has ramped up quickly in a short span of just over four years, through its core high-quality, smart, efficient, stylish, and durable line of audio products.
We are humbled, overwhelmed with the confidence and support entrusted by boAtheads over the years. It is a moment of pride for all Indians as it validates the growing acceptance of home-grown brands globally. With the support of our Govt. we will aim to become a global lifestyle brand. We at boAt understand the requirement of millennials and will continue doing what we do the best to serve the community of boAtheads. "
boAt has built a community of over 3 million boAtheads online (consumers) who want to be seen listening and wearing their boAt accessories to make a lifestyle statement.