India TWS market records 55% YoY growth in Q3 2021, boAt continues to lead: Counterpoint

According to a report by Counterpoint Research, the Indian TWS market recorded strong numbers during the third quarter of 2021. The market reportedly grew by 55% YoY in terms of shipments, and the top 5 manufacturers were boAt, realme, Noise, Apple and Boult Audio.

boAt maintained its lead in the market for the 5th consecutive quarter, with a growth of 171% YoY and a market share of 35.8%. Its top-selling model was the Airdopes 131, which shipped over 1 million units. realme took the second spot with 8.1% market share, where it found success with the Buds Air 2 and Buds Q2 Neo.

Noise came in third place with 7.7% share and Apple came in 4th place with 7.6% market share, thanks to the various offers on their Airpods 2nd Gen. Boult Audio recorded an impressive growth of 147% YoY and took 5th place.

Among other brands, Nothing captured 7% market share among the premium segment (Above Rs. 5000), OPPO grew 63% YoY and DIZO was the fastest growing brand among new entrants.

Commenting on the market, Senior Research Analyst Anshika Jain said:

The Indian TWS market witnessed highest ever shipments in a single quarter in Q3 2021 driven by the strong festive planning, new launches and multiple sales events on major e-commerce platforms as well as brands’ own websites. We also saw the maximum number of new launches in Q3 2021 with a major emphasis on the low- to mid-price segments (less than INR 2,999). In this quarter, brands like realme and 1MORE followed the partner brand/sub-brand strategy with the launch of Dizo and Omthing respectively to expand their reach and enhance competitiveness.