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:-
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
