Smart Watch Maker Garmin Looks to Tap into India’s Growing ‘Middle Class’
US-based firm says the interest in India is also because of its potential to make a significant impact on public health
The Indian market has become a key focus for technology company Garmin due to its rapidly developing economy and increasing ‘middle-class’ consumer base, said Scott Burgett, Senior Director, Garmin Health Engineering.
A close competitor to Apple in terms of smart watches, Garminis working to make its products more affordable and readily available for Indian consumers, Burgett told Business Today in an interview.
Defending the quality of its wearable products in comparison to competitors such as Apple and Samsung, Burgett said, “The company not only offers superior battery life but is also versatile, working seamlessly with both Apple and Android phones. Garmin also provides third-party data access, promoting a diverse ecosystem of digital health innovations.”
However, Garmin aims to be more than just a significant player in the wearable market. The company also aims to gain a good market share in India. “The ultimate goal is to leverage wearable technology to improve overall societal health, promote wellness, and reduce healthcare consumption,” said Burgett. “To achieve this, Garmin continues to heavily invest in the creation of innovative devices, aiming to maintain a strong presence in the growing wearable market. Particularly, the Indian market has become a key focus for Garmin due to its rapidly developing economy, increasing middle-class consumer base, and its potential to make a significant imp innovative devices, aiming to maintain a strong presence in the growing wearable market. Particularly, the Indian market has become a key focus for Garmin due to its rapidly developing economy, increasing middle-class consumer base, and its potential to make a significant impact on public health,” he said.
Garmin Health, a part of the Garmin act on public health,” he said.
Garmin Health, a part of the Garmin is a provider of digital health solutions that leverage the data and insights of the Garmin product ecosystem. It also supports innovative research through grant programs that enable researchers to conduct high quality research studies.
Garmin on February 26th, during the international business convention BioAsia 2024 that is promoted by the Government of Telangana, announced the start of the 2024 Garmin Health India Research Grant, a collaboration with Fitrockr Health Solutions and the Government of Telangana in cooperation with the World Economic Forum-C4IR Telangana.
The 2024 Garmin Health India Research Grant winners will receive up to 5 Garmin wearables with the latest sensor technology, three months of unlimited access to the Fitrockr health data analytics platform for up to 50 users and access to the C4IR Telangana network of hospitals and institutions.
“The use of wearable fitness technology has revolutionized personal health management. The technology started as devices designed primarily for runners and athletes, which later expanded to incorporate features like optical heart rate sensors. However, it soon became apparent that these devices could offer even more advanced health metrics beyond traditional heart rate monitoring,” said Scott Burgett, Senior Director, Garmin Health Engineering.
Using wearable sensors and features such as optical sensors and accelerometers, devices can now estimate one’s sleep duration, sleep cycle stages, stress levels, and even one’s ‘body battery’.
“These advancements signaled a paradigm shift in wellness – from individual-oriented health management to broader third-party applications. An example of this is corporate wellness programs, where companies subsidize wearables for their employees, leading to increased employee fitness levels, weight loss, and overall improved health,” said Burgett.
“Furthermore, insurance companies leverage wearables to improve the health of their insured populations, leading to benefits like remote patient monitoring,” he said.
India’s wearable market is experiencing a surge in popularity, driven by falling prices, advanced features, and a growing health focus, with smartwatches leading the charge according to International Data Corporation (IDC) 2023. Q3 2023 saw record shipments of 48.1 million units, reflecting a 29.2% year-over-year growth. This trend is expected to continue, with the smartwatch segment reaching a value of $110.5 million in 2024 and climbing to $141.8 million by 2028 as per Statista. Domestic brands like Noise, boAt, and Fire-Boltt are gaining significant traction due to their competitive pricing and local appeal.
Garmin is also looking at expanding its consumer base in India. “Started in 2014, Garmin Health has played a significant role in the evolution of wearable fitness. Garmin continues to invest in its technology to stay ahead in the evolving wearable tech ecosystem. While specific new features and product launches are confidential, the company places great emphasis on innovation and providing the best technology through its wearables,” said Burgett.
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