Search in Our Research Portal
New Delhi, Hong Kong, Seoul, London, Beijing, San Diego, Buenos Aires – November 25
India’s TWS market growth soared 723% YoY in Q3 2020, according to the latest research from Counterpoint’s IoT service. It is one of the few segments which managed to defy the impact of economic slowdown, reaching its highest ever growth in shipments for a single quarter.
Research Associate Anam Padha said, “Inventory build-up prior to the festive season, along with a good number of new launches and entry of new players like OnePlus, vivo and Infinix, drove this substantial TWS growth. Besides, work-from-home and study-from-home due to the COVID-19 pandemic continued to boost demand.”
Exhibit 1: India TWS Market Share by Top Five Brands, Q3 2020
Source: India Hearables (TWS) Shipments by Model Tracker 2020 Q3
Talking about smartphone OEMs’ IoT strategy, Research Analyst Shilpi Jain said, “Most of the smartphone OEMs now have entered the CIOT segment and are expanding their TWS portfolios across price-tiers to benefit from the huge potential it holds. Increase in ‘stay at home’ activities due to the COVID-19 pandemic have also boosted the demand for TWS. The smartphone OEMs have managed to carve a significant place for themselves in the segment by leveraging their already established brand awareness and sales channels.”
Discussing the ASP for TWS, Jain added, “India TWS ASP increased for the first time since 2019, largely due to the increase in Apple AirPods shipments and new launches in higher price tiers. Apple’s decision to not include wired EarPods with its new iPhone 12 series evidently helped it to increase the demand for AirPods.”
Exhibit 2: Top 5 Best-selling Models in India TWS market, Q3 2020
Source: India Hearables (TWS) Shipments by Model Tracker 2020 Q3
Key Takeaways for India’s TWS Market:
The comprehensive and in-depth ‘India Hearables (TWS) Shipments by Model Tracker, Q3 2020’ report is a part of our IoT service. It is available for download here.
Feel free to contact us at press(at)counterpointresearch.com for further questions regarding our latest research and insights, or for press enquiries.
Background:
Counterpoint Technology Market Research is a global research firm specializing in Technology products in the TMT industry. It services major technology firms and financial firms with a mix of monthly reports, customized projects and detailed analysis of the mobile and technology markets. Its key analysts are experts in the industry with an average tenure of 13 years in the high-tech industry
Analyst Contacts:
Shilpi Jain
Anam Padha
Counterpoint Research
press(at)counterpointresearch.com