True wi-fi earbuds register 68% progress in Q2 in India
NEW DELHI: The true wi-fi headphone market in India grew by 68% year-on-year within the second quarter of 2021, says a brand new report by market evaluation agency Counterpoint Research.
Homegrown boAt led the marketplace for the fourth quarter in a row, with a 37% market share. Another homegrown model, Noise, grew by 117% and entered the highest 5 sellers within the TWS house in India.
Players need to make these units domestically to reap the advantages of the federal government’s PLI (Production-Linked Incentive) scheme,” said Anam Padha, research associate at Counterpoint. Brands like Mivi and boAt have launched made-in-India products, while Aiwa is exploring a “similar possibility”.
The true wi-fi market in India has been rising exponentially over the previous couple of years. Counterpoint reported a 656% progress for the sector in June final yr, with Chinese model Realme and Xiaomi, and Samsung-owned JBL accounting for 57% of the market. Analysts have attributed the expansion to the rising work-from-home use instances within the nation, though the variety of sellers within the phase additionally grew this yr.
“We have seen an outstanding change in India’s TWS market with the entry of latest gamers and frequent new launches. More than 40 manufacturers have entered this market since 2020. In the subsequent quarter, we’ll see the entry of extra manufacturers (like Nothing Ear, Dizo and Micromax) throughout value tiers to seize a bigger share of this untapped market,” stated Anshika Jain, senior analysis analyst, Counterpoint.
“Some of the brand new entrants in Q2 2021 had been Lava, Aiwa and TCL. Low-cost choices have offered the required increase to this phase. The share of ₹1,000-INR 2,000 value band grew to 60% of the general shipments in Q2 2021 in comparison with 25% in the identical quarter final yr,” she added.
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