In its February 2024 report of India Smart Tech Brands Monthly Ratings, Techarc released the benchmarking and rankings of Indian brands across 6 categories comparing their standing with the global counterparts. In all 36 brands were compared across the categories of smartphones, smart watches, TWS earbuds, tablets, smart door locks and dash cams. This is the first edition of the monthly report released by Techarc. Techarc hard previously released a special report regarding this on Republic Day 2024.
Highlighting the key pointers, Faisal Kawoosa, Chief Analyst and Founder, Techarc said, “While it is a big achievement that today almost every global brand is making its smart tech products in India, what is more encouraging to witness is the acceptance of indigenous brands across different categories that have emerged especially in the past 10 years.”
“Since the encouragement of the present government to not only ‘Make in India’ but also Design and Develop in India, several startups and traditional business houses have forayed in these categories. Earlier the criticism was that these brands are not able to produce globally competitive products and customers, especially youth are indifferent to these brands. This is changing as indicated by the ratings these brands have earned basis customer feedback and review on popular e-marketplaces,” said Faisal.
Report Key Insights:
- Out of the 36 brands tracked in this report, 22 Indian brands earned an average rating of 4 or higher in February 2024. Dash cam maker fnx earned a maximum possible rating of 5.0, the only Indian brand to achieve this rating. Among global counterparts, Philips for Dash cam and Okos for Smart door locks were the only two brands scoring 5.0 rating in their respective categories during Feb’24.
- The benchmark ratings between Indian brands and global brands are narrowing in several categories including smartphones, smart watches, TWS earbuds and smart door locks. Indian brands operating in Tablets need to significantly improve the quality and performance of their products to match up with their global counterparts. In Tablets, the Indian brands scored an average of 3.0 in Feb’24 against 4.3 scored by their global counterparts. There is also a relative price difference between Tablets of Indian brands and the global brands.
- iKALL, which is into manufacturing of mobiles, Tablets and other few smart tech devices, emerged at the top ranked brand for its Tablets securing highest rating and the change in rating in February over the previous month. Smart watch maker GOQii took the 2nd spot followed by smart door lock makers Dorset and Godrej at 3rd and 4th place respectively. The 5th rank was earned by Titan which is now making smart watches as well.
- By different smart tech categories, Lava emerged as the sole Indian brand in smartphones. In TWS Earbuds, the top three brands were Noise, Boult and Boat respectively.
- GOQii topped the rankings in smart watch followed by Titan and CorssBeats. In Tablets, IKALL and iBall emerged as the only 2 active tablet brands of India ranking in that order.
- In the IOT category of smart door locks, Dorset, Godrej and Ironzon emerged as the top 3 Indian brands, while in Dash Cam category, fnx, Qubo and Orlov ranked 1st, 2nd and 3rd
Way forward
Techarc expects the list of promising indigenous smart tech brands to grow in coming months as they excel further in product design and development matching their global counterparts. Also, with several contract and owned manufacturing facilities in all these categories available in India aiming to meet the domestic as well as exports demand, these brands can also benefit by having a better access and collaboration with the key component suppliers like chipset companies, which also helps in increased knowledge and technology transfer.
