The Indian TWS earphones market has recorded a whopping 156 percent year on year growth in the first quarter of this year, with boAt leading the market. Although, the resurgence of the Coronavirus pandemic is expected to impact the market’s performance for the second quarter.
According to a Counterpoint Research report, “Enhancement in features like sound quality, low latency for better gaming experience, smart touch control for a hassle-free experience, and waterproof and dustproof ratings have helped advance the growth of TWS market in India. Also, the constant trends of multiple new launches and low pricing strategy have accelerated the growth further,” as per Research Analyst Shilpi Jain.
During this period, boAt dominated the Indian TWS market for the third consecutive quarter in Q1 2021. The company recorded a massive growth of 576 percent year on year. In the first quarter, the brand managed to have three of its products rank in the region’s top 5 models. These top 5 models accounted for about half of all shipments in the region, with boAt alone being responsible for 15 percent of all shipments. The brand’s overall market share was around 28 percent, with OnePlus being second on the list with a market share of 13 percent.
Research Analyst Shilpi Jain further added that “Key brands OnePlus and realme got a push by offering discounts on their official websites. Brands like Jabra, Sony, and Apple also offered discounts on Amazon to strengthen demand. After the PLI scheme extension to the wearable and hearable category, brands are planning to scale up their ‘Make in India’ capabilities to leverage the scheme. After pTron, we might see a ‘Made in India’ TWS from boAt in the immediate quarter.“
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