New Delhi: According to the latest research from Counterpoint’s IoT service, India’s true wireless earbuds (TWS) shipments have seen a tremendous growth with 168% year-on-year. Due to several discount offers and increasing popularity among Indians, the low price band (Rs 1000 to Rs 2000) TWS is on the rise. Online channel penetration stood at 79%, with Flipkart capturing half of these shipments.
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Domestic brands have played a vital role in boosting India’s shipments to the region. boAt has maintained its leadership with a growth of 236% in the second quarter of 2022. While Noise is maintaining its second position for the third consecutive quarter.
A brand named Mivi made it to the top five brand rankings for the first time. Other emerging brands are Oppo, OnePlus with their new models Buds Pro, Samsung and Truk.
Commenting on the overall market, Anshika Jain, Senior Research Analyst, said, “The TWS market in India is showing phenomenal growth due to availability of low cost new TWS devices, improved features and functionalities like ANC, innovative designs and low latency. Mode for gaming. The market is expected to grow by 47% in 2022 as new brands continue to arrive, while existing brands expand their channel presence. Moreover, consumer demand is expected to increase during the festive period as people are also seeing TWS devices as a good option for gifting purposes.
Jain said, “The share of domestic manufacturing was 16%, which is the highest ever. With boAt, Noise, Mivi and pTron increasing their local manufacturing capabilities, these brands accounted for 98% of the domestic shipment volume in the second quarter of 2022. ‘Made in India’ has been in the news since the beginning of this year. But more brands started focusing on local manufacturing during the quarter. Gizmore and new entrant SWOTT also offered locally produced equipment in the second quarter of 2022. In addition, we expect to see ‘Make in India’ devices from Truk and Portronics as they focus on localizing their manufacturing to maintain price competitiveness.