India's TWS market posted 156% year-on-year growth in the first quarter of 2021, according to Counterpoint Research.
India’s TWS market posted 156% year-on-year (YoY) growth in the first quarter of 2021, according to latest report by Counterpoint Technology Market Research. After experiencing high growth throughout the year, the segment is now moving towards stable growth. However, with the COVID-19 pandemic worsening in Q2 2021, leading to lockdowns in major states, demand as well as supply will get hit and hamper the market’s growth.
“Enhancement in features like sound quality, low latency for better gaming experience, smart touch control for a hassle-free experience, and waterproof and dustproof ratings have helped advance the growth of TWS market in India. Also, the constant trends of multiple new launches and low pricing strategy have accelerated the growth further,” said Shilpi Jain, Research Analyst.
On the TWS promotions during Q1 2021, Jain added, “Key brands OnePlus and realme got a push by offering discounts on their official websites. Brands like Jabra, Sony and Apple also offered discounts on Amazon to strengthen demand.”
Talking about strategy, noted that after the PLI scheme extension to the wearable and hearable category, brands are planning to scale up their “Make in India” capabilities to leverage the scheme. “After pTron, we might see a ‘Made in India’ TWS from boAt in the immediate quarter,” Jain said.
Local brands have strengthened their position in India’s TWS market. They now hold three positions in the top five list of brands in terms of shipments, contributing almost 40% of the total shipments.
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