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India’s Hearables (TWS) market witnessed a massive growth in Q3 2020, according to the latest research from Counterpoint.
As per the report, India’s TWS market growth soared 723 per cent year-on-year (YoY) in Q3 2020.
The market reached its highest ever growth in shipments for a single quarter, stated Counterpoint.
Also read: India becomes the fastest growing market in wearables: Counterpoint
“Inventory build-up prior to the festive season, along with a good number of new launches and entry of new players like OnePlus, Vivo and Infinix, drove this substantial TWS growth. Besides, work-from-home and study-from-home due to the Covid-19 pandemic continued to boost demand,” said Research Associate Anam Padha.
The shipments were led by the top three brands. These brands accounted for almost half of the total shipments in Q3 2020.
The top spot went to boAt which expanded its portfolio this quarter and launched many devices across price tiers. Xiaomi maintained its second spot in Q3 2020 with 16 per cent of the market share, followed by Realme which dropped to the third spot with 12 per cent market share. JBL and Apple had market shares of 8 per cent and 6 per cent, respectively in Q3 2020.
The entry of more OEMs further accelerated the growth of the TWS market in the country.
Talking about smartphone OEMs’ IoT strategy, Research Analyst Shilpi Jain, said, “Most of the smartphone OEMs now have entered the CIOT segment and are expanding their TWS portfolios across price tiers to benefit from the huge potential it holds. Increase in ‘stay at home’ activities due to the Covid-19 pandemic has also boosted the demand for TWS. The smartphone OEMs have managed to carve a significant place for themselves in the segment by leveraging their already established brand awareness and sales channels.”
Jain added, “India TWS ASP increased for the first time since 2019, largely due to the increase in Apple AirPods shipments and new launches in higher price tiers. Apple’s decision to not include wired EarPods with its new iPhone 12 series evidently helped it to increase the demand for AirPods.”
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