On the back of low-price true wireless earbuds (TWS) ranging in the price category or Rs 1,000 to Rs 2,000, the Indian TWS market has registered a record quarter yet again. The shipments registered 168 per cent year-on-year growth and 62 per cent quarter-on-quarter growth in Q2 2022. Other than the low cost, multiple discount offers and growing popularity, due to convenience of use, led to this huge jump in market demand as per Counterpoint’s IoT Service.   boAt, once again, emerged as the leader with 46 per cent market share. Its shipment grew 236 per cent YoY in Q2 2022 on the back of Airdopes 131 that contributed 15 per cent share to the overall TWS market shipments. The substantial demand was driven by its new low-priced alternatives and big sales events like Amazon’s summer and mega music fest sales.    Noise maintained its second position for the third consecutive quarter with 8 per cent market share and  registered 190 per cent YoY growth driven by its locally produced TWS earbuds. The brand again refreshed its low-priced VS series with the launch of the Noise Buds VS104 in Q2 2022.    With 7 per cent market share, Boult Audio was at the third spot. The company reached a record high volume with 233 per cent YoY growth. During the quarter, it offered multiple new launches in the low-price segments and the Airbass X Pods grabbed a spot in the top 10 bestseller list, contributing 33 per cent of the brand’s volume.    While Mivi made it to the top five brand ranking for the very first time with 6 per cent share and was followed by PTron with 4 per cent share because of two new launches at an entry-level price band (less than Rs 1,000). The PTron Bassbuds Duo was its bestseller model, making it to the top 10 model rankings. Other emerging brands in Q2 2022 were OPPO, OnePlus, Samsung and Truke.   “India’s TWS market continues to show phenomenal growth due to the reasons like availability of low-priced new TWS devices, better features and functionalities like ANC, innovative designs, and low-latency mode for gaming. The market is expected to grow 47 per cent in 2022 as new brands continue to arrive even as existing ones expand their channel presence. Besides, consumer demand is expected to rise during the festive period as people are also seeing TWS devices as a good option for gifting purposes,” says analyst Anshika Jain, Senior Analyst at Counterpoint.    All the brands are ramping up their local manufacturing capabilities and the share of domestic manufacturing stood at 16 per cent, the highest ever. boAt, Noise, Mivi and pTron together accounted for 98 per cent of the domestic shipment volume in Q2 2022.

Also read: boAt launches six new products including soundbar, earbuds and smartwatches ahead of Amazon Prime day sale

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