Four out of five wireless earbuds sold in India in 2022 were from an Indian company

• The Indian truly wireless stereo (TWS) earbuds segment has reported an 85% growth in 2022.
• Indian companies accounted for 80% of devices sold in the country.
• boAt occupied seven positions in the top ten sold earbuds list.

The truly wireless stereo (TWS) earbuds segment in India saw a huge boost in 2022, as the sales nearly doubled with an 85% growth in the year. The increased sales have been attributed to increased local manufacturing, affordable devices, and sales hosted by e-commerce giants.

According to a report by Counterpoint Research, the shipments of TWS grew by 85% in 2022, and for the first time, Indian companies occupied the top five spots, led by Aman Gupta’s boAt.

Indian players continue to dominate

Source: Counterpoint Research

The TWS segment is one of the few segments in smartphone-related industries where Indian players are performing well, and, in this industry, their performance is unparalleled.

In 2022, the top five spots in the TWS segment were occupied by Indian companies. While Indian companies have been performing well, this is the first time that Indian companies have held all five positions.

Four out of five TWS earbuds sold in Indian

Indian companies accounted for 80% of total TWS shipments in 2022, their highest share ever, with the top five brands accounting for 66% of total shipments. This means that for the first time, four out of five TWS earbuds sold in India were from an Indian company.

“Four-fifths of the total market was captured by Indian brands, their highest-ever share. For the first time, the top five spots were taken by local brands, which captured two-thirds of the total TWS shipments in India,” said Anshika Jain, senior research analyst at Counterpoint Research.

boAt continues to lead the market

boAt, which has been the market leader, topped the list for the third year with a 39.7% market share in 2022, up from 38.9%. The company has reported an 89% year-on-year growth.

The company captured seven spots in the top ten TWS devices sold in the country, and its Airdopes 131 earbuds alone occupied a 10% share of the total TWS shipments.

MIVI reports record growth

Another player that performed quite well in 2022 was MIVI. The domestic manufacturer reported a 544% year-on-year growth to occupy the fourth position with a market share of 6.2%, up from 1.8% in 2021. This has been attributed to new launches from the company and its presence in the popular sub-₹2,000 segment.

Domestic production increases 15x

Domestic production of TWS also received a huge boost in 2022, with the market share of domestic production in total shipments rising from 2% in 2021 to 30% in 2022, registering a 15x increase.

“Domestic manufacturing saw rapid growth, contributing 30% of the total shipments in 2022, compared to just 2% in 2021. Key homegrown brands boAt, Mivi, and pTron ramped up their local manufacturing capabilities to account for 73% of the domestic shipment volume in 2022,” said Liz Lee, associate director, of Counterpoint Research.

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