True Wireless Stereo (TWS) Market Gets 723% Growth in Q3 Due to Covid-19, This Indian Company Becomes Ahead
India’s True Wireless Stereo (TWS) market has grown at a rate of 723 percent during the third quarter of this year. According to a report by Counterpoint Research, there has been strong growth in the demand for TWS due to the Coronavirus epidemic, Work from home and Study from home. This is a segment that has not been affected by the economic downturn due to the epidemic. On the other hand, the Indian company Boat has overtaken companies like Xiaomi and Realme of China.
During the third quarter (July-September) of the calendar year 2020, the Indian company Boat emerged as a major brand and its market share increased to 18 percent. Xiaomi came in second with a 16 percent market share.
The report said that Realme has come in third place in the Indian TWS market, its market share has come down to 12 percent. This happened because the company did not launch any new products during the third quarter and the introduction of new companies attracted good products to consumers.
JBL stands at fourth position with an 8 percent market share, compared to a 15 percent market share in the second quarter. Apple, which had the largest market share in 2019, managed to make it to the top-5 brands’ list in the third quarter of the current year. Its market share is 6 percent.
Most smartphone manufacturer companies have now entered the CIOT segment and are expanding their TWS portfolio across all price ranges. Research analyst Shilpi Jain said that due to work from home due to Covid-19, the demand for TWS has increased.
