Off late, in 2020 the TWS earbuds market has just exploded in India and people are buying them more than ever mainly because of the fact that they are much handier and the prices of these earbuds have dropped drastically. If 2019 was more dominant to Bluetooth neckbands, 2020 has been the year of TWS earbuds in India.
Well, there were a lot of brands who have helped to increase this market and it was dominated mostly by smartphone brands who have brought a variety of them to lure customers into their network. The strategy to create an all-round ecosystem of products have helped the smartphone giants like Realme and Xiaomi a lot and it is evident from the data provided by Counterpoint Research.
The Indian TWS earbuds market did register a year-on-year growth of an astonishing 656% growth in Q2 2020 and was led by Realme, Xiaomi, and JBL, respectively. These brands have brought a lot of TWS earbuds like the Realme Buds Air and Buds Q from Realme while Xiaomi’s success was driven by the likes of Redmi Earbuds S and Mi True Wireless 2. JBL, on the other hand, secured the third position with its best-selling C100TWS earbuds.
If the top 5 brands are to be considered for Q2 2020 then they are pTron with a 6% market share followed by boAt with 10% while JBL getting 15% and Xiaomi securing 20% and, Realme leading the chart with almost 22% market share.
“Entry of players like Xiaomi and Oppo, and launch of more affordable devices pushed the average selling price (ASP) to the lower side, making it possible to reach a larger section of the population,” said Shilpi Jain, Research Analyst, on the market growth.
“Though the competition has intensified, this segment holds immense growth potential as it still represents just 10% of the hearables segment in India,” further said, Jain.
So this TWS hearable market is likely to grow even more as time progresses and we shall see more competition in the market helping consumers to get better products at cheaper products over time.
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