How India Audio Accessories Market is Positioned in India?
India audio accessories market has registered a constant growth in the last six years increasing from INR ~ crore in 2013 to INR ~ crore in 2018 at a five year CAGR of 16.0%. Growth was witnessed to be the highest in Bluetooth speaker market which registered a staggering CAGR of 41.6% during the period. The demand for branded goods in India is constantly rising and its share has increased from ~% in 2013 to ~% in 2018. Products in the medium price segments and recognized brands are most faked (first copy) audio accessories category in India. The demand for wireless headphones, earphones and speakers has witnessed substantial growth in the recent years. Brands such as JBL were offering bluetooth speakers at a price as low as INR ~ in 2016 to attract customers. Xiaomi, a leading Smartphone brand in India launched bluetooth speakers with microphone starting at a price of INR ~ in India. There have been a lot of product modifications in 2.1 speakers and various products were available with inbuilt features of FM, USB, LED light, bluetooth and others, still this category was not appealing to the customers and there was a constant decline in the growth of 2.1 speakers.
Bluetooth speakers are well accepted by the consumers and by the end of 2018. The products include portable bluetooth speakers, earpods, earphones, trolley speakers, waterproof speakers and others.
Industry specific players such as Bose and Sennheiser are smaller players as compared to well known electronic and communication companies such as Sony, Zebronics, and Samsung. Design evolution and feature addition will largely drive the market in low and medium price segment. In premium segment, audio quality and experience will be major driver.
India Earphone and Headphone Market Segmentation
By Region (North South East and West):-
Northern part of the country is more popular for wired headphones as compared to wireless headphones. Wired headphones are very popular in Tier 2 and Tier 3 cities. Kolkata is the only metro in the eastern region where many companies have exclusive EBOs and have significant presence in MBOs.
By Online and Offline Online retail is the largest segment for headphone and earphone sales. All major companies are selling their products online. Many companies have exclusive partnership with online players to launch and sell their products in the online market.
By Price Category: For leading brands such as Sennheiser, Sony, Bose, Marshall and similar, INR 5,000 and more is the target price category of focus and majority of the product development is targeted in this price bracket.
By Wired and Wireless: Majority of the earphones sold are wired and comes in with microphone, however significant decline in demand is expected in years to come. Wireless technology is fast moving into consumer choices as they are easy to handle, compact, more ergonomically designed with better aesthetics.
India Bluetooth Speaker Market Segmentation
By Region (North South East and West):-
Blue tooth speakers are mainly popular in urban areas especially in cities with better infrastructure for job and consumer spending. Cities in Southern (Kochi, Trivendrum, Calicut, Madurai, Coimbatore, Salem, Khozikode) and Western (Goa, Indore, Bhopal, Surat, Ahmedabad, Vadodra) part of India are most popular markets for bluetooth speakers.
By Online and Offline There is limited delivery coverage for several districts in the eastern part of country. Rough terrain, poor distribution network, lack of courier services, payment related issues is some key factors.
By Price Category: There has been a constant decline in prices as new technology and products enter the market. Many popular product launched in INR 1,500-3,000 category have been selling in this category post discounts.
Future Projection
Bluetooth speakers market is expected to register a five year CAGR of ~% during the period of (2018-2023). Price rise, expansion to new geography and feature addition is expected to become key driver for growth in the market.
India 2.1 Speaker Market Segmentation
By Region (North South East and West):-
Northern region is the most dominant market for 2.1 speakers in India. People in Tier 2, 3 cities and villages are major consumers of 2.1 speakers. The students and young working population in metro cities are some key customers of 2.1 speakers. Non metro cities have significant end users of 2.1 speakers as they have multi-utility.
By Online and Offline Offline sale is still a popular method for sale of 2.1 speakers. Majority of the sales are executed through offline retailers are through third party retailers who purchase the product from distributors and then sell it in the retail market.
By Price Category: The most popular price category in the 2.1 speaker market segment is INR 1500-3000. Most of the products sold are in this price bracket.
Competition In Bluetooth Speaker Market
Future Projections
The 2.1 speaker market in India is expected to decline in future. It will register slight increase in revenue but post 2020, the market will register constant decline in revenue. By 2023, it is expected that sales of 2.1 speakers will decline to INR ~ crore.
How is Future Positioned for Audio Accessories Market in India?
The demand for fake and non labeled goods will continue to maintain their presence in the market. Advancement in consumer awareness is expected to lead to higher demand for non-label audio accessories as compared to fake goods. Overall, the audio accessories market will increase from INR ~ crore in 2013 to INR ~ crore in 2023 registering a five year CAGR of 7.0%.
Key Segments Covered:-
By Accessories
Headphone and Earphone, Blue tooth Speaker, and 2.1 Speaker
By Branded and Fake/Non Labeled
By Headphone and Earphone Market
North, South, East, and West
Metro and Non Metro
By Online and Offline
By Wired and Wireless
By Price Category
By Bluetooth Speaker Market
North, South, East, and West
Metro and Non Metro
By Online and Offline
By Wired and Wireless
By Price Category
By 2.1 Speaker Market
North, South, East, and West
Metro and Non Metro
By Online and Offline
By Wired and Wireless
By Price Category
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023
Companies Covered:-
Bose
Sony
Sennheiser
Zebronics
Portronics
Jabra
Intex
Harman
JBL
Apple
Samsung
Sony
Boat
Keywords:-
India Audio Accessories Market
Audio Accessories Market In India
India Audio Accessories Market Analysis
India Audio Accessories Market Major Players
India Branded Audio Accessories Market
India Branded Headphone Market
India Branded Earphone Market
India Branded Wireless Headphone Market
India Branded 2.1 Speaker Market
India Bluetooth Earphone Market
India Wired Headphone Market
India Smart Speaker Market Online Sales
Bose Speaker Market in India
Apple Airpods Market in India
Demand Of Headphone In Non Metros
Offline Speaker Market Sales India
Sennheiser Market Sales Headphones
Sales Headphone Fenda India
For more information, refer to below link:-
India Audio Accessories Market
Related Reports:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
