The homegrown TWS maker is rocking the Indian market, sustaining its top spot for the fourth quarter in a row. The recent report from Counterpoint Research goes to show that the TWS market in India is flourishing with a huge 68% year-on-year growth in the second quarter of 2021.
It’s impressive to see, the Indian brand boAt is leading the line with a whopping 37% market share, on the other hand, another Indian brand Noise, grew by 117% to enter the top five players in the TWS space in India for the first time.
Anam Padha, a research associate at Counterpoint has said that more players are looking to grab the benefits of the government’s PLI (Production-Linked Incentive) scheme. So, we know Indian brands like Mivi and boAt have launched made-in-India products, also stressing them as the future for the growing Indian audio market.
The TWS market in India is growing in a trajectory that you could have never imagined, “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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