boAt has remained the king of India’s wireless earbuds market in 2024. According to Counterpoint Research, the brand holds a solid 33% share, it has maintained its position even as market growth slows. Boult and Noise follow closely behind.
The market grew by 14% this year, thanks to festive sales, budget-friendly pricing, and people using earbuds for everything from music to work calls. But there are signs of a slowdown. Fewer new products are launching, and the number of first-time buyers is shrinking.
Affordable earbuds are driving growth
The biggest boost has come from budget earbuds. The Rs. 1,500–Rs. 2,000 price range saw the fastest growth at 52% year-over-year. More brands, including HP, Poco, Vivo, and iQOO, jumped into this space, while Xiaomi expanded its lineup. To stay ahead, brands are adding premium features like active noise cancellation, transparency mode, and better comfort.
Sound quality, design, and gaming features are improving across the board. The market has now crossed the $1.3 billion mark. Companies are also focusing on better battery life and faster charging. AI-powered earbuds, which give options to the users to personalise sound and improve noise cancellation, could be the next big thing, the report says.
Chinese brands are catching up
Chinese brands are also growing fast, with a 33% jump in sales year-over-year. They now hold 16% of the market. Among them, realme is leading the charge with a 55% growth, thanks to its refreshed product lineup. Meanwhile, global brands like JBL, CMF, and Apple are struggling. They hold just 6% of the market—their lowest share yet.
Offline sales are picking up
Online stores are still selling better than online stores. They make up about 75% of total sales. But offline sales are growing even faster, up 42% year-over-year. As online demand levels out, brands are focusing more on physical stores, especially in smaller cities. Large retail outlets are attracting buyers with festive discounts, bundling deals, and bank offers.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
