In 2022, India’s True Wireless Stereo (TWS) earbuds shipments registered an impressive 85% year-on-year growth, with boAt leading the market for the third consecutive year. This was revealed in a new report released on Tuesday, highlighting the increasing demand for TWS earbuds in India. boAt has been the market leader in TWS earbuds for the past three years, as consumers are increasingly turning to the brand for its quality and affordability.
The report also noted that the increased demand for TWS earbuds is driven by the growing popularity of streaming services, as well as the convenience of having a wireless device. With the advances in technology, the TWS earbuds market is expected to continue to grow in the coming years.
According to Counterpoint Research, boAt registered an impressive 89% year-on-year growth in its TWS shipments, contributing two-fifths of the total market shipments. This news was especially impressive, as the Airdopes 131 remained the top-selling model for the second consecutive year, with a 10% share of the total TWS market shipments.
What’s even more exciting is that, for the first time, the top five spots in the India TWS market were captured by local brands. This shows the increasing popularity of local brands, as their products meet the needs of the customers in terms of quality and affordability. It also indicates that Indian brands are more than capable of competing with global brands in the TWS market. This is great news for the Indian TWS market, as it shows that the industry is thriving and there is plenty of room for innovation and growth.
According to Anshika Jain, a Senior Research Analyst, Indian brands captured an unprecedented four-fifths of the total market share, with local brands occupying the top five spots and two-thirds of the total TWS shipments in India. Additionally, Chinese brands achieved a 13% share in 2022 due to the successful launches of OnePlus Nord Buds and Nord Buds CE, as well as strong performances from realme and OPPO. Lastly, global brands secured an 8% share of the market, primarily driven by Apple, Samsung, and JBL.
The booming wireless audio industry witnessed a significant rise in domestic manufacturing in India this year. According to a recent report, 30% of total TWS shipments were manufactured domestically, compared to a mere 2% in 2021. The domestic manufacturers, including boAt Airdops, Mivi, pTron, Noise, Truke, Boult Audio, Wings, Gizmore, and Play, have ramped up their production capabilities and have accounted for 73% of the domestic shipment volume in 2022.
Noise rose to second place with a year-on-year growth of two times while Boult Audio grabbed the third spot with a market share of 7% and Y-o-Y growth of 167%. Mivi, on the other hand, experienced a 544% growth, making the brand fourth in the rankings for the first time. Lastly, pTron retained its fifth position with a market share of 5%.
Liz Lee, the Associate Director, noted that the local brands have made an immense effort to meet the demand for TWS devices and also stated that this will mark a new era of Indian audio dominance.