India's neckband market shipments grew by 71% YoY in Q2 2022, mainly driven by a greater preference for these devices due to their look and comfort, and the availability of improved features at an affordable price.
India’s neckband market shipments grew by 71% year-on-year (YoY) and 52% quarter-on-quarter (QoQ) in the second quarter (Q2 2022), according to the latest research from Counterpoint Technology Market Research’s IoT Service. This growth was driven by a greater preference for these devices due to their look and comfort, and the availability of improved features at an affordable price.
“India’s neckband market witnessed remarkable growth in Q2 2022 with most of the new launches coming from the affordable price segment (less than Rs2,000 or $25). Many of the top OEMs are focusing on the Rs1,000–Rs2,000 (or $13–$25) price band by adding features like voice assistance, low latency for gaming, noise cancellation, and music control through gestures,” said Senior Research Analyst Anshika Jain.
Source: India Hearables (Neckband) Shipments, Model Tracker, Q2 2022
“In Q2 2022, the local production increased over 2.5x QoQ with an 8% share in the total shipment volume, compared to 5% in Q1 2022. boAt manufactured more than two-thirds of the domestic volume in Q2 2022 followed by homegrown brands Mivi and Noise. In the second half of 2022, we expect more brands to introduce ‘Make in India’ devices,” Jain said.
“The brands are pushing neckbands with long battery life. This feature is also attracting consumers as other wireless hearables have limited operating hours. The shipment share of the neckbands with 30+ hours of playtime increased to 40% in Q2 2022 from 17% in Q1 2022,” said Research Director Tarun Pathak. “In addition, some of the most demanded features like active noise cancellation, insta-charge and dual pairing technology are moving into lower price bands to attract cost-conscious customers.”
boAt topped the charts for the ninth consecutive quarter with a 36.4% shipment share driven by its value-for-money offerings like the Rockerz 255 series, Rockerz 235V2 and Rockerz 245V2.
Meanwhile, OnePlus and realme were among the top five brands due to their new launches in the affordable segment and support from their smartphone user base. The OnePlus Bullets wireless Z2 was the best-selling neckband in Q2 2022, capturing more than 10% of the Indian neckband market. realme focused on offering popular features like ANC at an affordable price.
Ubon entered the top-five club for the first time in the Indian neckband market driven by multiple affordable neckbands. On the other hand, OPPO grew 74% QoQ due to the popularity of its newly launched Enco M32 in the budget segment. Strong online and offline presence helped the brand enter the top five in Q2 2022.
Noise grew 50% QoQ with its popular models Nerve and Flair capturing half of its total portfolio. Xiaomi, meanwhile, maintained a position in the top 10 list with the Redmi SonicBass being its major volume driver.
Other emerging brands in the market included TECNO, Mivi, and Ptron.