The TWS market (India’s True Wireless Stereo, popularly known as earbuds) has recorded 8.4 million units shipping, reaching 4 2,432 crores by 2020, research firm techARC said on Friday.
As remote performance grows exponentially due to the practice of working at home, TWS has become an important accessory for smartphone users, techARC founder and senior analyst Faisal Kawoosa.
“At the same time, the ecosystem is aligned to improve sound intensity … COVID-19 has had a positive impact on this product segment, almost doubling its size. Our expectation by 2020 was 4.5 -5 million units,” he added.
According to the units deployed, Xiaomi led the TWS segment with a market share of 14.7 per cent, followed by boat (13.9 per cent) and Realme (13.6 per cent).
In terms of price, Apple-owned almost 35 per cent of the shares, followed by OnePlus (12.5 per cent) and Xiaomi (11.2 per cent).
Considering that Apple TWS has the highest sales value, OnePlus and Xiaomi have managed to make the perfect balance in getting a market share of the price and volume by TWS’s 2020 opportunity, the report said.
The report revealed that 77 products exported TWS product by 2020. This high number is unstable and will be combined with many non-essential products that make a quiet exit, he added.