Inspite of the shipments declining to 13% YoY in Q1 2022, they did grow 34% YoY in 2021. The market was led by boAt with a 25.7% share, while OnePlus and realme took the following spots respectively. The price band that captured 70% share of the market was Rs. 1,000 to Rs. 2,000. More than 75% of the total sales were made online.
Consumers are choosing neck bands over headphones as an alternative audio device is increasing. This is mainly due to their stylish look, wireless design and long-duration usage.
Anshika Jain, Senior Research Analyst commented, “Half of the total neckband market was taken over by the top three brands in Q1 2022. Like TWS, the India neckband market is dominated by local players, which captured around 58% share in Q1 2022. These players have focused on providing the emerging features at affordable prices, like voice assistance, gaming mode for low latency, gesture music controls and insta-charge technology.”
boAt shipments grew 4% YoY in Q1 2022, while OnePlus maintained its second position. With ~10% market share, realme captured the third position and Zebronics entered the Top 5 list for the first time. As per reports, India’s neckband market is approximately 1.3x of TWS market. Going forward, competition can be expected between the neckband and TWS segments. More than three-fourths of the total neckband models were sold online with Flipkart dominating the channels.
