India’s TWS (true wireless stereo) headset market enjoyed a whopping 85% year-over-year growth in 2022, per the Counterpoint IoT Service Report. Local manufacturing, attractive sales events, frequent affordable offerings, and new players all contributed to the surge.
It is evident that Chinese and global brands had a decrease in their market share this year in comparison to Indian players. Chinese brands had a 13% market share in 2022, which was supported by the success of OnePlus’ products Nord Buds and Nord Buds CE.
Additionally, realme and OPPO also aided this growth. Global brands had an 8% share, which was led by Apple, Samsung and JBL.
India’s TWS headset Market Summary for 2022
- boAt took the lead for the third year in a row with 89% YoY growth, capturing seven spots in the rankings for top-10 best-selling models.
The Airdopes 131 remained the top-selling model for the second consecutive year with a 10% share of the total TWS headset market shipments. - Noise rose to the second spot with 2x YoY, focusing on its VS series catering to the
- Boult Audio grabbed the third spot with a 7% share and 167% YoY growth. It also entered the domestic manufacturing space for the first time in 2022.
- Mivi grew 544% YoY and took the fourth position, driven by its made-in-India TWS headset portfolio and presence in the entry-level and low-price bands.
- PTron again took the fifth spot with a 5% share of the total TWS headset shipments, and was the largest brand in the entry-level price band.
Market Summary for Q4 2022 – India’s TWS headset shipments
In Q4 2022, India’s TWS headset shipments saw 44% YoY growth due to festive season sales and promotions, and growing local production. boAt held a 3% YoY lead, marking its tenth consecutive quarter of lead, while Boult Audio stood second for the first time with an 11% share.
Top Five Brands: The top five TWS headset brands in India were all local brands – boAt, Boult Audio, Mivi, Ptron and Noise. They accounted for two-thirds of the total shipments. Indian brands captured a record 84% share driven by the five aforementioned local brands.
Top Model: The boAt Airdopes 131 remained the top model for the seventh consecutive quarter in Q4 2022, with a 4% share.
Retail Price Band: The Rs. 1,001-Rs. 2,000 retail price band (around $13-$25) continued to fuel the TWS headset demand in India during Q4 2022, with a 75% share. boAt mainly drove the volume for this price band with a 45% share, followed by Boult Audio, Mivi, Noise and Wings.
Premium Segment: The premium segment (>INR 5,000 or around >$60) captured a 4% share this quarter, driven by Samsung followed by Apple and JBL.