India’s true wireless stereo (TWS) market grew 74.7% YoY (year-over-year) to 20.3 million units in 2021.
According to IDC's Wearable Device Tracker, Indian manufacturers accounted for over 65% of shipments in the wireless earphones category. They accounted for less than half the market in the previous year.
The homegrown brand boAt emerged as the market leader capturing over two-fifths of the shipments, higher than the combined share of the next seven manufacturers on the list. Its performance was especially exceptional in the fourth quarter of the year (October-December 2021) when it accounted for close to half the market volume.
Chinese vendor Realme retained its second position with a 7.7% market share, while Noise beat Samsung to the third position with a 7.5% market share. Noise also emerged as the fastest-growing brand in the segment with a 194.7% growth in sales over the previous year.
Aggressive entry and expansion through the online channel allowed these new-age brands to collectively bring down average selling prices to $32.8 in 2021, from $43.6 in 2020, resulting in nearly 90% of the TWS category being below the $50 price band. However, the encouraging reception of new brands viz Nothing, Google, and LG electronics shows consumer enthusiasm in the mid-end segment.
According to the report, the pandemic drove use cases, generated demand for smart audio devices, as shipments tripled YoY in the first half of the year. Festive discounts, competitive pricing, multiple launches and new entrants led to strong adoption in the latter part of the year.
“Affordability, availability, and appealing aesthetics are the key drivers for the TWS market as a must-have complementary device for a smartphone,” said Ekta Mittal, IDC India client devices market analyst.
“With increased awareness, consumers will continue to migrate from wired to wireless devices and upgrade to devices with better sound experience, longer battery and comfort,” she added.