India’s TWS (True Wireless Stereo, commonly known as earbuds) market recorded a shipment of 8.4 million units, amounting to ₹2,432 crore in 2020, research firm techARC said on Friday.
With remote working growing substantially due to work-from-home practice, TWS has become an essential accessory for smartphone users, techARC founder and chief analyst Faisal Kawoosa said.
“At the same time, the ecosystem has aligned to enhance the experience of near-real audio…COVID-19 has had a positive impact on this product category, almost doubling its size. Our expectations for 2020 were in the range of 4.5-5 million units,” he added.
In terms of units shipped, Xiaomi led the TWS category with a 14.7 per cent market share, followed by Boat (13.9 per cent) and Realme (13.6 per cent).
In value terms, Apple had close to 35 per cent share, followed by OnePlus (12.5 per cent) and Xiaomi (11.2 per cent).
Considering that Apple TWS has a substantially high average selling price, OnePlus and Xiaomi have been able to make the perfect balance in earning both value and volume market share of the TWS opportunity in 2020, the report said.
The report noted that as many as 77 brands shipped a TWS product during the year 2020. This high number is not sustainable and there will be consolidation with many insignificant brands making a quiet exit, it added. PTI SR SHW SHW
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