BoAt, the home brand of True Wireless Stereo (TWS) has the largest share in the TWS market in India.
The TWS market in India is experiencing a significant 68% annual growth in the second quarter of 2021 according to a recent study from Counterpoint’s IoT Service that growth has been driven by new introductions to affordable prices and improved features.
BoAt has seen a tremendous growth of 426% year-on-year and enjoys a market share of 37% of total exports. Second and third place respectively were taken by OnePlus and Realme.
Both products have a market share of 12% and 10%, respectively. The popularity of Buds Z has also helped OnePlus hold second place in a growing market.
Realme has retained its place in the top five products due to its inexpensive launch.
Another domestic product, Noise, has grown by 117% at the same time entering the top five vendors in the TWS market in India by 8%.
Some of the things that worked to harvest the boAt include aggressive advertising methods, celebrity allowances, and listing of Airdopes 131 during the sale of Flipkart Big Savings Day.
India’s top wireless boAt Q2, OnePlus, Realme
Anam Padha, a research worker at Counterpoint said, “Players (companies) want to make these devices locally in order to benefit from the government’s PLI (Production-Linked Incentive) government program.”
While pTron and boAt have already launched a line made in India TWS, Mivi is also likely to follow soon. Aiwa is another product that is likely to follow in the same steps.
“More than 40 products have entered the market since 2020. In the next section, we will see the entry of many products (such as Nothing Ear, Dizo, and Micromax) into all prices to capture the largest share of this unused market.
Other new entrants to Q2 2021 were Lava, Aiwa, and TCL. The low cost has given the impetus needed in this phase, ”said Senior Research analyst Anshika Jain.
He added, “The inflation target of 1,000-INR 2,000 has grown to 60% of total cargo in Q2 2021 compared to 25% in the same quarter last year.”
According to analysts, due to the price of Rs 1,000 to Rs 2,000 in TWS offerings, the market has grown by 60% of total exports in Q2 2021 compared to 25% in the same quarter last year.
Although market growth slowed in April due to Covid-19 restrictions, including commerce platforms the pent-up demand helped drive momentum over the next two months (May and June), Jain said.
