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India becomes the fastest growing market in wearables: Counterpoint

Our Bureau Mumbai | Updated on April 23, 2020 Published on April 23, 2020

Shipment of true wireless stereo into India saw a massive 700 per cent growth in 2019

The shipment of hearable (true wireless stereo) devices into India (TWS) posted a massive 700 per cent growth in 2019, becoming the fastest growing market in wearables, according to the latest research from Counterpoint.

Increasing audio content consumption, features like portability and advancements like health and fitness tracking are making TWS popular among smartphone users and driving the demand, Counterpoint said in a release on Thursday.

"The launch of many affordable devices by players like realme, Xiaomi and Noise immediately caught consumers’ attention with their audio quality and ease of use. As the India market remains largely untapped for TWS, the segment holds huge growth potential and opportunities for new players.” said Shilpi Jain, research analyst, Counterpoint.

Apple dominated the India TWS market throughout 2019 - with a market share of 27 per cent - driven by strong sales of second-generation AirPods, Counterpoint found. Though it is now facing stiff competition as many OEMs are entering into the segment, factors like its reputation as a pioneer, noise-cancelling feature, easy integration with Apple devices and quick charging have helped it to maintain its leadership position, it said. In terms of revenue share, Apple will continue to command lion share moving forward, it said.

Apple is followed by Noise, JBL, Samsung and realme in terms of market share in 2019.

The current lockdown situation due to COVID-19 will accelerate the demand for TWS as many people are working from home and connecting through voice and video calls, according to Satyajit Sinha, research analyst at Counterpoint.

Published on April 23, 2020

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