boAt Leads for Third Consecutive Quarter followed by One Plus & Realme
India’s TWS market posted 156% YoY growth in Q1 2021, according to the latest research from Counterpoint’s IoT service. After experiencing high growth throughout the year, the segment is now moving towards stable growth. However, with the COVID-19 pandemic worsening in Q2 2021, leading to lockdowns in major states, demand as well as supply will get hit and hamper the market’s growth.
Commenting on the TWS market growth, Research Analyst Shilpi Jain said, “Enhancement in features like sound quality, low latency for better gaming experience, smart touch control for a hassle-free experience, and waterproof and dustproof ratings have helped advance the growth of TWS market in India. Also, the constant trends of multiple new launches and low pricing strategy have accelerated the growth further.”
On the TWS promotions during Q1 2021, Jain added, “Key brands OnePlus and Realme got a push by offering discounts on their official websites. Brands like Jabra, Sony and Apple also offered discounts on Amazon to strengthen demand.”
Talking about strategy, Jain said, “After the PLI scheme extension to the wearable and hearable category, brands are planning to scale up their ‘Make in India’ capabilities to leverage the scheme. After pTron, we might see a ‘Made in India’ TWS from boAt in the immediate quarter.”
Local brands have strengthened their position in India’s TWS market. They now hold three positions in the top 5 list of brands in terms of shipments, contributing almost 40% of the total shipments
boAt dominated India’s TWS market for the third consecutive quarter in Q1 2021, growing 576% YoY. It captured three spots in the top 5 models list for shipments in Q1 2021, contributing to almost 50% of the shipments of top 5 models. boAt’sAirdopes 131 model performed well and rose to the second position, with its shipment share increasing to almost 7%. To gain maximum exposure, the brand came up with well-planned marketing campaigns and strategies, like rolling out the TRebel exclusive collection for women and partnering with six teams for IPL 2021.
OnePlus held the second position, mainly due to its Buds Z model, which remained the best-selling model in Q1 2021 with almost 10% share. OnePlus’ ‘The Final Horizon Sale’ gave a major boost to its growth.
Realme maintained its third position in Q1 2021 as well with 125% YoY growth. Its Buds Q model also continued to find a spot in the top 5 best-selling models’ list. realme strengthened its demand with the Holi Days Sale, which offered good discounts on its TWS devices.
pTron, which bounced back strongly last quarter, moved one step forward and grabbed the fourth spot by offering multiple new launches, like the Bassbuds Vista, Bassbuds Pro and Bassbuds Jets, at affordable prices.
Noise, an upstart brand that was one of the earliest brands to enter the TWS segment of hearables, managed to grab the fifth spot by offering the maximum number of new launches among the top 5 brands during the quarter. Celebrity endorsement, strong product portfolio and launching models at introductory pricing resulted in its comeback in the top 5 brands’ list for Q1 2021.