India’s TWS market posted 156 Per cent YoY growth in Q1 2021

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Local brands have strengthened their position in India’s TWS market. They (Boat, Noise and Ptron) now hold three positions in the top five list of brands in terms of shipments

India’s TWS market posted 156 per cent YoY growth in Q1 2021, according to the latest research from Counterpoint’s IoT service. After experiencing high growth throughout the year, the segment is now moving towards stable growth. However, with the COVID-19 pandemic worsening in Q2 2021, leading to lockdowns in major states, demand as well as supply will get hit and hamper the market’s growth.

“Enhancement in features like sound quality, low latency for better gaming experience, smart touch control for a hassle-free experience, and waterproof and dustproof ratings have helped advance the growth of TWS market in India. Also, the constant trends of multiple new launches and low pricing strategy have accelerated the growth further,” sayd research analyst Shilpi Jain.

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Local brands have strengthened their position

Local brands have strengthened their position in India’s TWS market. They (Boat, Noise and Ptron) now hold three positions in the top 5 list of brands in terms of shipments, contributing almost 40 per cent of the total shipments. Boat dominated India’s TWS market for the third consecutive quarter in Q1 2021, growing 576 per cent YoY. It captured three spots in the top 5 models list for shipments in Q1 2021, contributing to almost 50 per cent of the shipments of top 5 models.

OnePlus held the second position, mainly due to its Buds Z model, which remained the best-selling model in Q1 2021 with almost 10 per cent share. Realme maintained its third position in Q1 2021 as well with 125 per cent YoY growth. Ptron, which bounced back strongly last quarter, moved one step forward and grabbed the fourth spot by offering multiple new launches.

“Key brands OnePlus and realme got a push by offering discounts on their official websites. Brands like Jabra, Sony and Apple also offered discounts on Amazon to strengthen demand,” notes Jain.

Noise, an upstart brand that was one of the earliest brands to enter the TWS segment of hearables, managed to grab the fifth spot by offering the maximum number of new launches among the top 5 brands during the quarter.

“After the PLI scheme extension to the wearable and hearable category, brands are planning to scale up their ‘Make in India’ capabilities to leverage the scheme. After pTron, we might see a ‘Made in India’ TWS from boAt in the immediate quarter,” added Jain.

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