boAt Dominates India’s TWS Market in 2024
boAt continues to lead India’s True Wireless Stereo (TWS) earbuds market, maintaining a 33% market share in 2024, according to Counterpoint Research. Despite a 14% market growth driven by festive sales and budget-friendly options, the industry is witnessing signs of slowdown due to fewer product launches and a shrinking number of first-time buyers.
Budget Earbuds Drive Growth
The Rs. 1,500–Rs. 2,000 price segment saw a massive 52% year-over-year growth, with new entrants like HP, Poco, Vivo, and iQOO intensifying competition. Brands are focusing on premium features such as active noise cancellation (ANC), transparency mode, and AI-powered sound personalization to attract consumers.
Chinese Brands Gain Market Share
Chinese brands saw a 33% sales surge, now holding 16% of the market. realme leads this segment with a 55% growth, fueled by new product launches. In contrast, global brands like JBL, CMF, and Apple are struggling, hitting their lowest-ever 6% market share.
Offline Sales Surge Amid Changing Trends
Although online platforms dominate with 75% of total sales, offline sales grew 42% year-over-year. Brands are investing in physical retail stores across smaller cities, leveraging festive discounts, bundling deals, and bank offers to attract buyers.
As India’s TWS market surpasses $1.3 billion, AI-driven features and longer battery life could shape the next wave of growth.
Source: Moneycontrol
