- India’s TWS market posted 156% YoY growth in Q1 2021, report says
- boAt dominated the Indian TWS market for the third consecutive quarter in Q1 2021, with year-on-year growth of 576%.
- Three out of five brands are among the best in terms of market share in the first quarter of 2021 are of Indian origin.
According to the latest research from Counterpoint’s IoT service, the Indian TWS market posted 156% YoY growth in the first quarter of 2021. The segment experienced high growth during the first quarter, but is likely to be affected in the second quarter due to lockdowns imposed in most countries due to COVID19. During these lockdowns, the demand and supply of the products is likely to be hampered, which will eventually affect the growth of the market.
However, there have been 5 players in the TWS market that have taken the lead as the ones with the largest market share in terms of sales and popularity in the first quarter.
With the ‘Make in India’ initiative in general and the quality of the products, three of the five brands are of Indian origin. In fact, boAt topped the list with 28% of the market share in the first quarter of 2021, with a year-on-year growth of 576%. These are the top 5 brands on the list.
From the list of the 5 best models for shipping in the first quarter of 2021, Boat was able to claim three spots, contributing 50% of top 5 model submissions. The brand’s excellent marketing strategy during IPL2021 could be credited as one of the main reasons for its tremendous success.
BoAt’s Airdopes 131 model ranked second in the top 5 models with almost 7% market share. BoAt’s exclusive TRebel collection was the biggest hit, especially among women.
OnePlusThe Buds Z model was the best-selling model in the first quarter of 2021 with almost a 10% share. The brand’s ‘The Final Horizon Sale’ was the main contributor to its growth.
Really posted a 125% year-on-year growth and maintained the third position in the list of the top 5 brands. Realme Buds Q was in the top 5 best-selling models in Q1 2021.
ptron, a Hyderabad-based brand, was able to improve its game this year by releasing several models in a row and that too in an affordable price range.
Noise, another Indian brand, was placed in the list of the top five brands. According to the Counterpoint report, celebrity endorsements, strong product portfolio, and launch price models resulted in its return to the top 5 brands list for Q1 2021.