NEW DELHI: The true wireless headphone market in India grew by 68% year-on-year in the second quarter of 2021, says a new report by market analysis firm Counterpoint Research.
Homegrown boAt led the market for the fourth quarter in a row, with a 37% market share. Another homegrown brand, Noise, grew by 117% and entered the top five sellers in the TWS space in India.
Players are looking to make these devices locally to reap the benefits of the government’s PLI (Production-Linked Incentive) scheme,” said Anam Padha, research associate at Counterpoint. Brands like Mivi and boAt have launched made-in-India products, while Aiwa is exploring a “similar possibility”.
The true wireless market in India has been growing exponentially over the past couple of years. Counterpoint reported a 656% growth for the sector in June last year, with Chinese brand Realme and Xiaomi, and Samsung-owned JBL accounting for 57% of the market. Analysts have attributed the growth to the growing work-from-home use cases in the country, although the number of sellers in the segment also grew this year.
“We have seen a phenomenal change in India’s TWS market with the entry of new players and frequent new launches. More than 40 brands have entered this market since 2020. In the next quarter, we will see the entry of more brands (like Nothing Ear, Dizo and Micromax) across price tiers to grab a larger share of this untapped market,” said Anshika Jain, senior research analyst, Counterpoint.
“Some of the new entrants in Q2 2021 were Lava, Aiwa and TCL. Low-cost offerings have provided the necessary boost to this segment. The share of ₹1,000-INR 2,000 price band grew to 60% of the overall shipments in Q2 2021 compared to 25% in the same quarter last year,” she added.
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