According to the fourth quarter report of 2022 released by market research agency Counterpoint, OnePlus has become the largest manufacturer of neck-worn headphones in the Indian market with a market share of 20.2%.
Overview
The neck-worn headset market in India was dominated by inventory clearance in the fourth quarter of 2022, resulting in a 36% year-on-year decline in the neck-worn headset market. OnePlus leads with a 20.2% market share, followed by boAt with a 16% share. OnePlus Cloud Ear Z2 has been the best-selling neck-worn headset in India for 3 consecutive quarters, with a 20% share in Q4 2022.
Indigenously manufactured neckwear accounts for a quarter of total shipments in India, and shipments of neck-worn earphones priced at Rs 1,000 grew by 15% YoY in Q4 2022. Boult Audio leads with 18% share, followed by Aroma, Signature and boAt. Other emerging brands in the top 10 include Noise, Zebronics, pTron and Signature.
Fastest Growing Brands
Boult Audio, Mivi and Aroma are the fastest-growing brands in Q4 2022, thanks to domestic production and affordable prices. These brands are making it easier for consumers to access quality neck-worn headsets at an affordable price.
Outlook
In 2022, India’s neckband market shipments will decline by 9% year-on-year. In contrast, shipments of TWS earphones in India increased by 85% year-on-year. This shows that consumers are increasingly turning to TWS earphones, as they are more compact and convenient to use.
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