The report
titled “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)”provides comprehensive information
on the India Audio Accessories market by Type of Devices (Headphone/Earphone,
Bluetooth Speaker, and 2.1 Speaker), by Branded and Fake/Non Labeled, by
Earphone and Headphone, by Wired and Wireless, by Price Category, by Region
(North, South, East and West) by Metro and Non Metro.
The
report also covers market ecosystem, value chain analysis, comparative landscape,
trends and developments, issues and challenges, decision
making criteria for customers while purchasing an audio accessory. The
report concludes with future outlook and certain recommendations highlighting
the success factors for entering and expanding the market.
India Audio
Accessories Market Size and Overview
Audio accessories market in India is
still in its growth phase with a large untapped potential. The market has grown
at robust 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 offering with mobile phones are key drivers for high demand for
audio accessories.
India Audio
Accessories Market Segmentation
By Earphones and Headphones: Earphones segment is the dominant category in the market.
Majority of the earphones sold are wired and comes in with microphone. Significant
decline in demand is expected in years to come with the transition to wireless
technology as it is fast moving into consumer choices due to easy to handle,
compact, more ergonomically designed with better aesthetic looks. Premium
products within a higher price range are in demand from the metros. Sennheiser,
Sony, JBL are some of the key brands sold in the metros. The market is largely
dominated by online sales and contribution from offline sales is on constant
decline. MBOs and EBOs serve as experience point for premium quality headphones
and the price variation in the premium category is much lower as compared to
more popular segments focusing on low margin high volume sales.
By Bluetooth Speakers: Proliferation
of smart devices and increased usage of data streaming networks, wireless
connectivity and portability have become a popular consideration before making
the purchase decision for bluetooth speakers. Metro cities accounted for
majority of the sales in bluetooth speakers market. An estimated more than two
third of the speakers sold in the region with Delhi, Mumbai, Kolkata, Bangalore
Hyderabad and Chennai being the major metro cities. This is mainly due to
better consumer spending, easy accessibility to connecting devices and compact
size. High priced products in price range of around INR 3,000 are more popular
due to their high volume capacity and better IPX rating. JBL GO is the most
sought after speaker in terms of volume sales due to its low price and high
brand value. The discount offered on online platform during special sales days
is also a very key factor for the high sales. Smart speakers will be the key
drivers in the next few years. Many companies including Bose, JBL, Boat and
other are working on integrating smart features of Google assistant in their
bluetooth speakers.
By 2.1 Speakers: Declining
growth in demand is registered for 2.1 speakers. The price of the product has
increased slightly during the period. Demand for 2.1 speakers have declined in
metro cities mainly due to high adoption rate of portable bluetooth speakers
and declining demand for desktops. These speakers are mainly sold through
offline retail stores, demand from online segment is low mainly due to high
volumetric volume of the package and little price benefit. Northern region is
the most dominant market for 2.1 speakers in India. High population coupled
with rapid urbanization, strong presence in the labor force and limited
resources of entertainment has promoted the sales of 2.1 speakers in Tier 2,
Tier 3 and villages. Product innovation is expected to be witnessed in this
category and majority of the demand for 2.1 speakers will be replaced by single
speaker with woofer or 2.1/5.1 speaker of bluetooth type which will replace the
product in the market.
Comparative Landscape in India
Audio Accessories Market
India
branded Audio accessories market is moderately competitive with presence of
12-15 major players and is home to more than 100+ registered audio accessories
companies. 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.
India Audio Accessories Market Future Outlook and Projections:
Bluetooth speakers market is expected to register highest
CAGR during the period of (2018-2023). The market which is currently in growth
phase is expected to reach maturity by the end of 2020. It will largely
cannibalize the 2.1 and partly the 5.1 speakers segment. Smart speakers will be
in high demand in years to come. Earphones are expected to continue their
dominance in the future as well due to their compactness and ease of storage
and carry. Wireless earbuds, airpods and products imitating airpods are gaining
popularity in India and are expected to have positive impact on the revenue.
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.
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
Key Topics Covered in the Report:-
Value Chain in India Audio Accessories Market
India Audio Accessories Market Overview
India Audio Accessories Market Size, 2013-2018
Trends and Developments in India Audio Accessories Market
Issues and Challenges in India Audio Accessories Market
Decision Making Criteria for Customers While Purchasing Audio
Accessories
Comparative Landscape
India Audio Accessories Market Future Outlook and
Projections, 2019-2023
Analyst Recommendations in India Audio Accessories Market
For more information, refer
to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
No comments:
Post a Comment