Counterpoint Research has released a new report on the truly wireless stereo earphones segment in India for the year 2022. The segment recorded a whopping 85 percent year-on-year growth. As per the research firm, the growth is cited to local manufacturing, attractive sale events, frequent affordable offerings, and new players in the market.
As per Counterpoint’s IoT Service data, Indian brands dominated the TWS segment in 2022. This was led by boAt, Boult Audio, Mivi, pTron, and Noise. They accounted for two/thirds of the total shipments and captured 80 percent of the market share. Chinese brands had a decreased market share with 13 percent last year. This was supported by the OnePlus Nord Buds, Buds CE, as well as, OPPO and Realme. Global brands led by Apple, JBL, and Samsung took a 8 percent share in the TWS segment.
As for the brand statistics, boAt led the TWS segment in India for the third consecutive year with a 89 percent year-on-year growth. The Airdopes 131 was the top-selling model for the second straight year. Noise rose to the second spot with 2x YoY. Boult Audio came in third with a 7 percent share. Mivi took the fourth position whereas the pTron bagged the fifth spot with a 5 percent share.
India’s TWS shipments saw a 44 percent YoY growth in the fourth quarter of 2022. The Rs 1,000 – Rs 2,000 price band had a 75 percent share during the period with boAt leading with a 45 percent share. The premium TWS segment captured 4 percent during the quarter driven by Samsung followed by Apple and JBL.
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