In Q3 2021, India’s TWS market grew by 55%, resulting in the biggest shipments ever
According to new research released on Wednesday, earbuds have matured as a consumer electronics sector, with India seeing record shipments of 80 lakh TWS (true wireless stereo) devices in the July-September quarter, lead by homegrown startup boAt.
According to Counterpoint Research, unlike other consumer electronics categories such as smartphones, local brands remained to have the highest penetration in the TWS earbuds market, with a 63 percent share, while the average selling price (ASP) fell 22% year over year.
In Q3 2021, India’s TWS market grew by 55%, resulting in the biggest shipments ever. Before the holiday season, brands moved large amounts of inventory into retail channels.
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“The Indian TWS industry saw the highest-ever quarterly shipments in Q3 2021, owing to strong seasonal planning, new releases, and several sales events on key e-commerce platforms and manufacturers’ own websites,” stated senior research analyst Anshika Jain.
In Q3, boAt had the greatest shipments volume since its beginning, accounting for 35.8% of the whole India TWS market. “In this quarter, companies like realme and 1MORE used the partner brand/sub-brand strategy to increase their reach and enhance competition by launching Dizo and Omthing, respectively,” she noted.
There was a greater emphasis on Active Noise Cancellation (ANC) and gaming in terms of functionality.
“Truke and Ptron, for example, have released their first gaming TWS earbuds. In addition, well-known manufacturers debuted a slew of new luxury models aimed at tech fans, “Jain explained. The OnePlus Buds Pro, Samsung Galaxy Buds 2, Nothing Ear 1, and JBL Pro Plus, as new options, increasing the premium segment’s ASP by 20%.
“Noise teamed up with Optiemus to offer a variety of locally manufactured gadgets in the next quarters. Similarly, realme announced a collaboration with Khy Electronics,” said Anam Padha, a research associate. Ambrane, another Indian business, has opened a factory in the United States to produce audio equipment.
Dizo was the fastest rising brand among new entries in Q3 2021. Within the first quarter of its launch, it offered four new models to the TWS market, according to the research.
Also read : Top 5 Smartphone Brand Market Share In Q3, 2021
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