Latest News | India TWS Market Grows 723 Pc to 6 Mn Units in Q3 2020: Counterpoint

New Delhi, Nov 25 (PTI) India's TWS (True Wireless Stereo, commonly known as earbuds) market clocked its highest-ever growth of 723 per cent year-on-year in the September 2020 quarter, with shipments of about 6 million units, according to Counterpoint Research.

"It is one of the few segments which managed to defy the impact of economic slowdown, reaching its highest ever growth in shipments for a single quarter," it said in a report.

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The growth was led by Boat, which cornered 18 per cent market share. This was followed by Xiaomi (16 per cent), Realme (12 per cent), JBL (8 per cent) and Apple (6 per cent).

"Inventory build-up prior to the festive season, along with a good number of new launches and entry of new players like OnePlus, vivo and Infinix, drove this substantial TWS growth.

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"Besides, work-from-home and study-from-home due to the COVID-19 pandemic continued to boost demand," Counterpoint Research Associate Anam Padha said.

Counterpoint Research Analyst Shilpi Jain said most of the smartphone manufacturers now have entered the CIOT (consumer Internet of Things) segment and are expanding their TWS portfolios across price tiers to benefit from the huge potential it holds.

"Increase in 'stay at home' activities due to the COVID-19 pandemic have also boosted the demand for TWS. The smartphone OEMs have managed to carve a significant place for themselves in the segment by leveraging their already established brand awareness and sales channels," she added.

Jain said the India TWS average selling price (ASP) has increased for the first time since 2019, largely due to the increase in Apple AirPods shipments and new launches in higher price tiers.

Apple's decision to not include wired EarPods with its new iPhone 12 series evidently helped it to increase the demand for AirPods, she said.

In a separate statement, Boat said it has seen 385 per cent growth in the TWS category in the September quarter over the June 2020 quarter.

Overall, the TWS category has grown by 172 per cent since the earlier quarter, while Boat has grown by 385 per cent during the same period, it said.

Boat said in January this year, it sold around 40 per cent wired and 60 per cent wireless products. As of November 2020, the sales for wireless have increased to 70 per cent with wired at 30 per cent.

"Being an Indian brand, boAt understood the requirement of its target group ie the millennials who cannot be influenced through traditional marketing strategies but through quality experience.

"The Counterpoint report is a result of our commitment towards boAtheads to provide them a product that isn't just fashionable and aspirational but affordable," Boat Audio co-founder Aman Gupta said.

The company already has a community of over 3 million consumers. It has witnessed a 20 per cent surge in demand for its products amid the pandemic and currently sells more than 15,000 units a day as against 8000-10,000 in pre-COVID times.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)