The TWS segment is the market of the wireless earbuds.
India’s TWS market: The TWS or true wireless stereo market in India has grown at a whopping 723% in the third quarter of 2020, as compared to the data from a year ago. A report released by Counterpoint has stated the TWS segment was one of the few that were able to tackle the economic slowdown that came this year, and instead report the highest ever growth in the segment for a single quarter’s shipments. The TWS segment is the market of the wireless earbuds.
A statement released by the research team quoted Research Associate Anam Padha as saying that the significant growth in the segment was aided by a high number of new launches and the inventory build-up that took place before the festive season in the country. Apart from that, new players like Infinix, OnePlus and Vivo entering the mix also played a key role in this increase. Moreover, while the pandemic snubbed most markets, this was one aided by the work-from-home and study-from-home trend that gained momentum during the coronavirus pandemic-induced lockdown.
While the segment saw new entrants, the biggest holder of market share continued to be domestic Earwear Audio company boAt, with a share of 18%, according to Counterpoint’s data. This was followed closely by Chinese brand Xiaomi with a 16% market share, Realme with a 12% share, JBL at 8% and then Apple with 6% market share.
Most sold products
In the third quarter, Redmi Earbuds 2C was the best-selling TWS model, followed by boAt Airdopes 441. Realme stood at the third and fourth position with its Buds Q and Buds Air Neo respectively, while Apple’s AirPods (2nd Gen) was the fifth most sold earbuds.
The statement cited Research Analyst Shilpi Jain as saying that the India TWS ASP saw an increase for the first time since 2019, and this was driven largely by the increase witnessed in the shipments of Apple AirPods and new launches in higher price tiers. Jain added that Apple’s move of not including wired earphones with the latest iPhone, the iPhone 12 series has helped increase the demand for AirPods and consequently, an increase in the TWS segment, significantly.