boAt continues to dominate India's TWS market, registers 576 per cent YoY

New launches, declining average selling price and improved features have fuelled the growth of true wireless stereo (TWS) in India. The Indian TWS market registered a 156 per cent year-on-year growth in Q1 2021. According to Counterpoint's IoT service, after experiencing high growth throughout the year, the segment is now moving towards stable growth. However, the demand and supply due to COVID-19 pandemic leading to lockdown will impact the category growth.

Homegrown company boAt continued to dominate India's TWS market for the third consecutive quarter in Q1 2021, registering a growth of 576 per cent YoY. boAt contributed to almost 50 per cent of shipments of top 5 models by capturing three spots; boAt's Airdopes 131 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.

The launch of the Buds Z model helped OnePlus with the second spot. The Buds Z remained the best-selling model in Q1 2021 with almost a 10 per cent share.

Key brands such as 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. Also, 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," says Shilpi Jain, Research Analyst, Counterpoint Research.