According to a report by Counterpoint, India’s True Wireless Stereo (TWS) earphones market posted a 55% year-on-year (YoY) growth in the third quarter of 2021. Total shipments during the period reached the highest shipments ever at around 8 million. As per the report, discount offers and new entrants in the low-price segments were the main reasons driving the overall growth during the period.
Home-grown Boat represented the highest shipment volume since its inception and captured 35.8% market share during the third quarter. Realme, on the other hand, rose to the second spot. It had a market share of 8.1% in Q3, 2021. Realme’s success was largely driven by Realme Buds Air 2 and Realme Buds Q2 Neo. Realme also gained the number one position in the mid-price segment of Rs 3,000-Rs 4,999.
Another home-grown brand Noise stood at third position with a total TWS market share of 7.7% during the third quarter of 2021. Apple was at fourth position capturing 7.6% share in the Indian TWS market. Apple’s Diwali offer bundling free Airpods with the iPhone 12 series in the fourth quarter helped the brand achieve 67% YoY growth. Apple was followed by Boult Audio which had a 5.3% market share with 147% YoY growth.
Other emerging brands and trends in Indian TWS market
Among the new entrants in Q3 2021, Dizo was the fastest growing brand. Its introductory pricing and focus on features like ANC and ‘transparency’ mode at an affordable price point worked in the company’s favour.
Nothing, Truke and Oppo are other emerging brands in the Indian TWS market. Nothing broke into the top three brands in the premium TWS segment and captured a 7% share in the segment. Oppo, on the other hand, grew 63% YoY.