True Wireless Stereo Market Grows in India Courtesy of Budget Offerings

Reported by Arpit Sharma August 13th, 2021 at 10:35 pm

Noise was the company that took the fourth spot on the list with 117% year-over-year growth and 8% share. As per Senior Research Analyst Anshika Jain, the low-cost segment in the TWS products has provided the required impetus for growth.

Highlights

While pTron is the first brand that has set up a made-in-India TWS line, Mivi is on the same footsteps.
As per the market research firm, Counterpoint, the Indian TWS market has grown by 68% year on year in the second quarter of FY 2021.
As per the analysts, because of the Rs 1,000 to Rs 2,000 price point in TWS offerings, the market has grown by 60%

TWS

Wired Bluetooth headsets are largely becoming a thing of the past as more and more people resort to Truly Wireless Stereo (TWS) headsets. The prices of TWS headsets in India are becoming more and more affordable thus allowing people to buy these and forcing the companies to innovate as well. As per the market research firm, Counterpoint, the Indian TWS market has grown by 68% year on year in the second quarter of FY 2021. The homegrown brands of India maintain the lead in this regard and the topmost name in the list is captured by boAt. As per the data provided by the IoT service of Counterpoint, boAt saw 426% year-over-year growth and a 37% share of the total shipments.

Lower Segment Major Boost for TWS

Some of the factors that worked in favour of boAt included aggressive marketing techniques, celebrity endorsements and its stacking of the inventory of Airdopes 131 during the Flipkart Big Savings Day sale. The second and third spot respectively was taken by OnePlus and Realme. Both the brands had the advantage of an existing user base in India with 12% and 10% share, respectively. Noise was the company that took the fourth spot on the list with 117% year-over-year growth and 8% share. As per Senior Research Analyst Anshika Jain, the low-cost segment in the TWS products has provided the required impetus for growth. There were also new entrants in the field which included names like Lava, Aiwa and TCL. Not only this, she said that in the next quarter launches by brands like Nothing Ear, Dizo and Micromax will also fill the market.

PLI Becoming a Big Factor Behind Indian Production

A big driving factor for the manufacturing of these products is the Production Linked Incentive (PLI) scheme which is convincing the companies to set up their productions in India. While pTron is the first brand that has set up a made-in-India TWS line, Mivi is on the same footsteps. Aiwa is another brand that is likely to follow along in the same footsteps. As per the analysts, because of the Rs 1,000 to Rs 2,000 price point in TWS offerings, the market has grown by 60%.

Reported By

Arpit Sharma Reporter

Arpit spends his day closely following the telecom and tech industry. A music connoisseur and a night owl, he also takes a deep interest in the Indian technology start-up scene and spends rest of his time spilling poetry and stories on paper.