The true wireless stereo (TWS) earbuds demand in India is continuing to rise. India has solidified its position as the third-largest market for true wireless stereo (TWS) earbuds with a share of 10 per cent, according to a market analyst firm.
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TWS Earbuds Are Becoming Popular in India
Apple has shipped 17.8 million AirPods. Since the customers were waiting for third-generation devices, the shipments declined by one-third as compared to last year. Samsung followed Apple as the second market leader defeating Xiaomi. Samsung’s position is backed by a strong performance from the debut of the Galaxy Buds 2.
Noise, Boult as well as smartphone players, such as Realme, rapidly growing their TWS shipments” said Canalys Research Analyst Ashweej Aithal.
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Canalys forecasts that the global TWS market will return to remarkable growth in the fourth quarter for the holiday season. As Apple has brought its new AirPods and companies including Jabra, Sony, and JBL are bringing their new models across a range of price points.
The global market saw a decline, with the USA marking a slowdown of 15 per cent and the demand fell by 21 per cent in Western Europe.
However, the stereo earbuds market size is valued to be at USD 25.32 billion in 2020. It is expecting to grow at a compound annual growth rate (CAGR) of 36.1 per cent from 2021 to 2028.
Moving ahead, radical advancements in technology, including the development of powerful and cost-efficient Bluetooth chips with longer battery life, will pave the way for market growth.
China and India are expecting to lead the Asia Pacific regional market. This is owing to the emergence of several vendors offering feature-packed products at competitive prices.
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