 "India's TWS shipments register 85% growth in 2022, boAt leads: Report")
India's TWS (True Wireless Stereo earbuds) shipments registered 85 per cent (year-on-year) growth in 2022, with boAt leading the market for the third time in a row, a new report showed on Tuesday.
According to Counterpoint Research, boAt registered 89 per cent (year-on-year) growth, contributing two-fifths of the total shipments. The Airdopes 131 remained the top-selling model for the second consecutive year with a 10 per cent share of the total TWS market shipments.
Moreover, for the first time, the top five spots in the India TWS market were captured by local brands.
"Four-fifths of the total market was captured by Indian brands, their highest-ever share. For the first time, the top five spots were taken by local brands, which captured two-thirds of the total TWS shipments in India," said Senior Research Analyst Anshika Jain.
"Chinese brands captured a 13 per cent share in 2022 driven by the good performance of OnePlus' feature-rich devices Nord Buds and Nord Buds CE. realme and OPPO also supported the growth of Chinese brands. Global brands took an 8 per cent share led by Apple, Samsung and JBL," she added.
Noise rose to the second spot with 2x (year-on-year) growth, while, Boult Audio grabbed the third spot with a 7 per cent share and 167 per cent (year-on-year) growth.
Mivi grew 544 per cent (year-on-year) this year and took the fourth position in the rankings for top-five brands for the first time, driven by its full-fledged made-in-India TWS portfolio, according to the report.
pTron again took the fifth spot with a 5 per cent share of the total TWS shipments.
"Domestic manufacturing saw rapid growth, contributing 30 per cent of the total shipments in 2022, compared to just 2 per cent in 2021," said Associate Director Liz Lee.
"Key homegrown brands boAt, Mivi and pTron ramped up their local manufacturing capabilities to account for 73 per cent of the domestic shipment volume in 2022. Other key players like Noise, Truke, Boult Audio, Wings, Gizmore and Play also manufactured made-in-India devices for the first time this year," she added.
--IANS
shs/shb/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app