India TWS earbuds shipments grows 34% YoY in Q2 2023: Counterpoint

India’s True Wireless Stereo (TWS) earbuds market saw a substantial 34% year-on-year (YoY) growth in the second quarter of 2023, according to research by Counterpoint.

Several factors fueled this surge, including increased demand for budget-friendly models, the introduction of more affordable options, and the popularity of sales events like Flipkart Big Saving Days and Amazon Prime Days.

Indian brands dominated the market, accounting for 75% of total shipments in Q2 2023, although this was slightly down from 80% the previous year. Chinese brands made gains during this period, securing a 17% market share – their highest in seven quarters. Notable contributors to this growth included OnePlus, OPPO, realme, and Xiaomi.

TWS Earbuds in India: Market Highlights for Q2 2023
  • boAt held its leading position for the 12th quarter in a row, with a 17% YoY growth. This was largely due to budget-friendly models, increased local manufacturing, and online event sales. Six of boAt’s models were among the top 10 bestsellers.
  • Boult Audio secured the second spot with nearly double the YoY growth, thanks to its numerous low-priced TWS models.
  • OnePlus jumped to the third position with a 228% YoY growth, largely due to the success of its Nord series.
  • Noise took fourth place with a 7% market share, with its VS series being a major contributor.
  • Mivi came in fifth with a 16% YoY growth, introducing seven new models in the sub-INR 2,000 price range.
  • realme saw a 54% YoY growth, with its Techlife Buds T100 making it to the top 10 models list for the second consecutive quarter.
  • Other emerging brands like PTron, JBL, OPPO, Portronics, Truke, Wings, and Fastrack also made their mark on the market.

The report predicts a robust 41% YoY growth for India’s TWS market in 2023, driven by upcoming festive season sales and a growing preference for online shopping channels. The market is expected to see the entry of new brands and a continued push towards online sales.

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

For the third quarter in a row, India secured the second position globally in True Wireless Stereo (TWS) shipments, accounting for 15% of the total in Q2 2023. This was fueled by a surge in consumer preference, an emphasis on gaming, a boom in locally produced TWS shipments, and numerous launches in the budget-friendly segment. In this quarter, products priced under INR 2,000 or $24 dominated 81% of India’s TWS shipments. boAt claimed the third spot in the global TWS market with a 6% share of global TWS shipments.

boAt Lifestyle continued to lead India’s TWS market for the 12th consecutive quarter, holding a 40% share. Boult Audio came in second, followed by OnePlus, Noise, and Mivi. OnePlus saw the fastest year-on-year growth and secured the third spot for the first time, thanks to the strong performance of its Nord series. Additionally, all brands concentrated on refreshing their TWS portfolio with multiple new launches focusing on features, design, and affordability.