The hearbale market continues to gain ground around the world. In India, the growth of the market has been very amazing. Counterpoint’s IoT service market research shows that India’s TWS market grew by a massive 723% YoY in Q3 2020.
Counterpoint‘s market data shows that the hearable segment is one of the few sectors which weren’t affected by economic slowdown occasioned by the COVID 19 pandemic. Instead, the segment reached its highest ever shipments growth in India for a single quarter.
In terms of the individual performance, Indian electronics manufacturer boAt emerged as the No. 1 brand with an 18% share of the market. boAt expaned its portfolio and launching many devices across price tiers during the quarter. boAt’s Airdopes 441 model is ranked as the second best selling earbuds in the third quarter. The earbud’s success is likely connected to its affordable pricing and impressive features like water resistance, better sound quality, USB Type-C charging and up to 25 hours of battery life.
Chinese tech giant Xiaomi retains its second spot in Q3 2020 with 16% share of the market. However, Xiaomi’s latest Redmi Earbuds 2C emerged as the top-selling model in the initial quarter of launch, thanks to the promotional price of INR 999 and better features, including improved call quality, comfortable fit and multi-function button.
boAt’s gain is Realme‘s loss as it dropped to the third spot with 12% market share. Realme’s decline in the wearable segment may be as a result of a lack of new product in the quarter under review. Tdespite that, the Realme Buds Q and Buds Air Neo still retained their spots in the top 5 list for best-selling models.
JBL stayed strong in the fourth position despite having an 8% share in Q3 2020. This is lower compared to the 15% market share raked in in Q2 2020. This is likely due to increased competition and the availability of cheaper options which offer impressive sound quality.
Finally, Apple managed to make it into the top 5 ranking with 6% share. The AirPods (2nd Gen) model also made the cut for the top 5 list for model shipments.
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