Neckband Shipments in India Plunged in 2022

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  • The entry-level price band (<Rs 1,000) took almost one-third of the total market share in 2022
  • Seven Indian brands appeared in the top-10 list, taking up a 62% share last year

As per the latest report by Counterpoint, India’s neckband market shipments in 2022 dropped by 9% year-on-year, thanks to the ever-increasing competition between hearable types and seasonality. The research by Counterpoint’s IoT Service noted that Indians now prefer Truly Wireless Stereo (TWS) devices over neckbands, mainly due to their sleekness, new features and affordability. It added that nonetheless, neckbands are still popular with the masses given their affordability and longer and wider usability.

After the report was released, senior research analyst Anshika Jain commented, “Indian neckbands are expanding towards the low-price tier of <Rs 1,000, which reached its highest ever share of 32% in 2022, up from 20% in 2021. Many brands are focusing on this tier to acquire the wired earphone user base. Over 80 brands entered the neckband market in 2022, reflecting the growth potential of this market. In terms of distribution, online channels contributed nearly three-fourths of total shipments with Flipkart taking the lead followed by Amazon. boAt, OnePlus and Boult Audio were the top-selling brands in the online segment.”

It is noteworthy that with a variety of budget products and their promotions, boAt stood first with a 27% share in the overall market. OnePlus captured the second spot with an 18% market share, and realme, third with a 7% market share. Boult Audio and Ubon followed with a 5% and a 3% share respectively.

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About brands, Jain stated, “In 2022, the homegrown brands captured seven spots in the list of top 10 brands with boAt taking the top spot. However, the contribution of local brands remained at 62% (showing a slight dip compared to 2021) as Chinese brand OnePlus started gaining prominence with its Bullets Wireless Z2 model. In fact, in Q4 of 2022, OnePlus became the top player in India’s neckband market for the very first time. Global brands took only a 3% share led by Sony, Samsung and JBL. Sony led the mid-segment (Rs 3,000-Rs 5,000) in 2022 with a 37% share.”

Another research analyst with Counterpoint, Akshay RS remarked the following about the local manufacturing scenario, “In 2022, domestic manufacturing contributed 13% of total shipments, up from just 2% in 2021. With boAt, Mivi and Boult Audio ramping up their local manufacturing capabilities, these brands together accounted for over 75% of the total domestic shipment volume in 2022. Noise, Gizmore, Portronics, Aroma, pTron and Wings also started offering locally produced neckbands in 2022.”

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry.


 

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