India Neckband Market Shipments Up 34% YoY in 1Q22

Article By : Counterpoint Technology Market Research

India's neckband market shipments declined by 13% YoY in 1Q22, but grew by 34% year-on-year in 2021, according to Counterpoint Research.

India’s neckband market shipments declined by 13% year-on-year (YoY) in the first quarter (1Q22) but grew by 34% year-on-year, according to Counterpoint Technology Market Research’s IoT Service. The market showed tremendous growth in 2021 primarily due to the user preference for neckbands over headphones for their stylish look, wireless design and long-duration usage.

Consumers are also opting for neckbands as an alternative audio device. The decline in 1Q22 is primarily due to the high inventory which was pushed into the channel in 4Q21 ahead of the festive season.

“Half of the total neckband market was taken over by the top three brands in 1Q22. boAt captured the first position due to its significant presence in the lower price segment (INR 1,000-INR 2,000). The primary factor that has helped boAt to maintain its leadership position is its wide range of products in hearables, along with strong marketing efforts. OnePlus and realme captured the second and third positions with 14.9% and 9.6% market shares, respectively,” said Senior Research Analyst Anshika Jain.

India Hearables (Neckband) Market Share of Top 5 brands, Q1 2022

Source: India Hearables (Neckband) Shipments, Model Tracker, Q1 2022

“The popularity of neckband devices is increasing as users are upgrading from a wired ecosystem and also want an alternative hearable device. Like TWS, the India neckband market is dominated by local players, which captured around 58% share in 1Q22. These players have focused on providing the emerging features at affordable prices, like voice assistance, gaming mode for low latency, gesture music controls and insta-charge technology. Besides, next-gen neckbands from top brands are coming up with increased total playback time, primarily focusing on the budget segment (INR 1,000-INR 2,000),” Jain said.

Research Director Tarun Pathak said, “India’s neckband market holds tremendous potential. We estimate that this market will continue to grow in double digits in the coming period. We have also seen the entry of new players in this segment, which is expected to drive volumes in the second half of 2022. Domestic manufacturing is also likely to pick up due to the increase in the customs duty for wireless hearable products. The current penetration of domestically made products stands at 5%.”

Market Summary

  • boAt shipments grew 4% YoY in 1Q22. The brand had a wide range of products for the budget segment. The boAt Rockerz 255 Pro Plus was the best-selling model for the brand.
  • OnePlus maintained its second position driven by the success of the Bullets Wireless Z Bass Edition. The brand also introduced the Bullets Wireless Z2 model in the lower price tier in 1Q22.
  • realme captured the third position with ~10% market share. The Buds Wireless 2 Neo was its best-selling model in 1Q22.
  • Zebronics entered the Top 5 list for the first time thanks to its multiple budget-friendly neckband devices launched in the market. More than half of the total shipments for the brand were driven by just two models – Zeb-Lark and Zeb-Symphony.
  • Boult Audio registered 6x growth YoY in 1Q22 with the Curve being the best-selling device for the brand. The brand has launched several affordable models on online as well as offline platforms.
  • Xiaomi maintained a position in the Top 10 list with the Redmi SonicBass being the major volume driver. Around 67% of its shipments came from the online channel.
  • Noise grew 8x QoQ due to the popularity of its Nerve and Flair models in the budget segment. The brand also launched the Noise Combat model in 1Q22. It has a gaming mode.
  • Other emerging brands in the market include OPPO, Ptron, Hitage, Ubon and Dizo.

According to a recent consumer study by Counterpoint, 15% of TWS users prefer to plan for other forms of wireless earphones, like neckbands, as their next purchase. India’s neckband market is approximately 1.3x of TWS market. Going forward, competition can be expected between the neckband and TWS segments as some users are preferring neckbands because of convenience during workouts. However, we will continue to see more innovation happening in the TWS category.


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