India’s Truly Wireless Stereo (TWSAccording to the International Data Corporation (IDC) India Monthly Wearable Device Tracker, the market witnessed a record year, shipping 20.3 million units in 2021 with a healthy 74.7% YoY (YoY) growth. In 2021, India-based vendors accounted for over 65% of shipments in the TWS category, compared to nearly half of the market share last year. BoAt emerged as the leader with two-fifths of shipments during the year, more than the next seven vendors combined.
BoAt maintained its position as the market leader, capturing 39.3% market share with a growth of 187.9% in 2021. It was followed by Realme with 7.7% share, Noise at third (7.5%), pTron at fourth place (6%). Samsung ranked fifth with 4.7% market share.
Aggressive penetration and expansion through the online channel allowed these new-age brands to collectively reduce TWS ASP to $32.8 in 2021, down from $43.6 in 2020, resulting in nearly 90% of the TWS category falling below the $50 price band. done. However, the enthusiastic reception from new brands like Nothing, Google and LG Electronics reflects the enthusiasm of consumers in the mid-end segment.
In Q421 (October-December) India-based brands consolidated their positions with four out of the top five positions. BoAt on its own accounted for almost half of the market volume, up from 30.1% in the same period a year ago. Shore secured the second position as the fastest growing brand with quadrupling of shipments during the quarter.
Ekta Mittal, Market Analyst, Client Devices, IDC India says, “Affordability, availability and attractive aesthetics are the key drivers for the TWS market as a must-have complementary device for smartphones.” With increasing awareness, consumers continue to migrate. Will keep Upgrade from wired to wireless devices and to devices with a better sound experience, longer battery and comfort,” says Mittal.
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