IoT Strategy Prompting Entry of Smartphone OEMs into TWS Market: Counterpoint

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  • True-wireless-stereo (TWS) market in India posted a massive 700 per cent growth in 2019
  • India has now become the fastest growing market for smart wearable devices

India, as per a recent report by Counterpoint Research, has become the fastest growing smart wearable devices market in the world. TWS, as per the report, is becoming an important part of smartphone OEMs’ connected devices strategy and drive ecosystem stickiness.

“An all-round connected devices IoT strategy, is prompting entry of many smartphone OEMs in this fast-growing segment. Some brands are using an affordable pricing strategy and strong growth momentum while some are leveraging cutting edge features to command a premium,” research analyst for Counterpoint Research, Satyajit Sinha stated.

Expect more OEMs to jump in

The research company expects that more OEMs will jump into the market for TWS in India. The growing potential of the TWS segment in India, as per the report has attracted multiple smartphone OEMs’ attention to complement its smartphone offerings.

Realme, one of the fastest-growing brands in India, launched its first TWS-Buds Air in December 2019 and immediately jumped to the fifth-largest brand within the initial month of launch. It is to be noted here that Realme is a part of China-headquartered BBK group.

“Similar form-factor to Apple’s AirPods, good-enough sound quality and features such as low-latency gaming mode, at an affordable price point, raised the overall value proposition,” read the report.

Connectivity features driving sales

The increasing audio content consumption, portability, and advancements like health and fitness tracking, smart assistants are making TWS popular among smartphone users and driving the demand.

“In all, TWS is becoming an important part of smartphone OEMs’ connected devices strategy and drive ecosystem stickiness. Expect more OEMs to jump in and follow Apple, Samsung, and realme in the India market where the attach rate for wireless buds is still quite low. Further, the current lockdown situation due to COVID-19 will accelerate the demand for TWS as many people are working from home and connecting through voice and video calls,” Sinha added.

Apple, Noise, JBL, Samsung and Realme, as per the report, held the top five positions in the TWS market in India, respectively.

Research analyst Shilpi Jain noted, “The availability of many affordable devices by players like realme, Xiaomi and Noise immediately caught consumers’ attention with their audio quality and ease of use. As the India market remains largely untapped for TWS, the segment holds huge growth potential and opportunities for new players.”

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