The neckband earphone market in India saw a decline of 13 percent year-on-year (YoY) in the first quarter of 2022, the latest report from Counterpoint research shows. However, the market had witnessed a 34 percent YoY growth in 2021. OnePlus and Realme took the second and third spots respectively, while boAt took the top spot with a 25.7 percent market share, as per the report. Meanwhile, the report also suggests that the OnePlus' Bullets Wireless Z Bass Edition was the best-selling neckband earphone in Q1 2022.
As per Counterpoint's latest research India's neckband earphones market has declined by 13 percent YoY in Q1 2022. The research states that "the decline in Q1 2022 is primarily due to the high inventory which was pushed into the channel in Q4 2021 ahead of the festive season."
As per the research, Boat has captured a 25.7 percent share of the overall neckband earphone market in India. Boat's success is linked to its significant presence in the lower price segment. The Boat Rockerz 255 Pro Plus has been the best seller model for the brand.
OnePlus followed Boat and maintained its second position with a 14.9 percent market share thank to the success of the Bullets Wireless Z- Bass Edition neckband earphones. As per counterpoint, it was the best-selling neckband earphone in Q1 2022.
OnePlus is then followed by Realme with a 9.6 percent market share in Q1 2022. Zebronics took the fourth spot while entering the top 5 list of neckband brands in India for the first time ever. The brand managed to grab the spot, thanks to its multiple budget-friendly segments launched in the market.
The fifth spot was taken by Boult Audio with 6x YoY growth in Q1 2022. The Curve is stated as the best-selling device for the brand, as per the research.
Photo Credit: Counterpoint
Talking about the overall market, Anshika Jain, Senior Research Analyst, said, “The popularity of neckband devices is increasing as users are upgrading from a wired ecosystem and also want an alternative hearable device. 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. Besides, next-gen neckbands from top brands are coming up with increased total playback time, primarily focusing on the budget segment (Rs.1,000-Rs.2,000).”
Counterpoint also noted some notable brands that have also had a significant impact on India's neckband earphones market. They include Xiaomi, Noise, Oppo, Ptron, Hitage, Ubon, and Dizo.
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