“Improved penetration of internet services, streaming of online music, declining prices of portable and wireless products has positively impacted the India Audio Accessories market in the consumer segment”.
Analysts at Ken Research in their latest publication “India Audio Accessories Market Outlook to 2023 – By Type (Headphones, Earphones, Bluetooth Speaker and 2.1 Speaker), By Sales Channel (Online and Offline), and By Region (North, South, East and West)” expect that introduction of new products compatible with virtual assistant AI and voice recognition technology along with growing mass and economy segment demand from smaller cities will continue to have positive impact on the market. The focus on development of premium segment will lead to higher promotion through offline marketing channels. It is expected that Indian audio accessories will register a five year CAGR of 8.7% during the period 2018-2023.
Market Structure and Size: Audio accessories market in India is still in its growth phase driven by large untapped potential. The market has grown at strong double digit growth rate, especially in the consumer audio accessories segment. Constant evolution of integration and audio technology, rising smartphone penetration and discontinued practise of providing the earphones as part of bundled product with mobile phones are the key driver for high demand for audio accessories. There is no clear market leader that has dominant presence in the Audio accessories market. 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.
Adoption of Wireless Technology: Indian consumer based audio accessories market is positively impacted by wireless technology such as bluetooth, WiFi and NFC. In terms of value wireless products have higher sales as compared to wired products. Introduction of wireless products has cannibalized wired products such as earphones as well as created new market segment such as smart speakers. Introduction of airpods from Apple has created an entirely new segment of truly wireless earphones. Removal audio jack has further aided the cause of adoption for wireless devices.
Enhanced Demand from Tier 2 and Smaller Cities: Rise of e-commerce has eased the market entry for many start-ups and foreign brands. It has also made it easy for people in non metro cities to get access to good quality audio accessories at the reasonable price. E-commerce website has helped in price discovery and brand awareness in these towns and cities. Many companies which were earlier focused on Metros have now initiated marketing activities and digital ad spend for smaller towns to attract the growing potential consumer base.
Major Players: Some of the major players operating within India audio accessories include Sony, Samsung, JBL, Sennheiser, Boat, Apple and Jabra in headphones and earphones market. Amazon and Google are the major players in smart wireless speaker segment. Companies including Zebronics, JBL, Bose and Boat dominated the portable bluetooth speaker market. Fenda Intex and Zebronics were the major players in the 2.1 speaker market segment. Many companies have manufacturing partner in China and are selling the rebranded product in India.
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
India Audio Accessories Industry
India Audio Accessories Market Revenue
India Branded Headphone Market
India Branded Earphone Market
India Branded 2.1 Speaker Market
India Earphone Market Size
India Wired Earphone Market
Sales Earphones Jabra India
Regional Speaker Market In India
Apple Airpods Market in India
Sony Speaker Sales In India
India Bluetooth Speaker Market
India Wired Earphone Market
India Branded Bluetooth Speaker Market
For more information, refer to below link:-
India Audio Accessories Market
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
