Sale of smart devices is expected to dominate the market in future. Products in the premium category are expected to be loaded with features based on AI.
Tier 2 Cities are fast moving towards medium and premium price category and smaller towns and villages are upgrading to low and medium priced branded products reducing the dominance of fake and non labelled goods in these regions.
Hybrid audio devices that can serve the purpose of both wearable and speaker can find larger customer base as technology and product innovation in the segment gets boost.
Expected Market Growth and Structure: Growing consumer awareness and rising number of low priced products in leading product segment from Indian brands will help the market to migrate towards branded products. Growth will be largely driven by high priced quality based products from leading brands in audio accessories market. Products like truly wireless earphones, high IPX rated smart bluetooth speakers and wearables will become key revenue drivers. These will mainly cater the low volume high value segment of the Indian Audio accessories market.
Removal of Audio Jacks from the Premium Smartphones: Many leading smart phone manufacturers in are removing the Audi jack from their phones. As of June 2019, phones without a headphone jack are Google Pixel 3 and successors, iPhone XS, XS Max and XR, Motorola Moto Z3 and Z3 Play, OnePlus 6T and successors, Sony Xperia XZ2 and XZ2 Compact, HTC U12 Plus, Huawei Mate 20 Pro and others.
This will significantly boost the current sale of high value wireless earphones and in future will become key driver for wireless devices as majority of the audio accessories (consumer segment) are used using mobile phones or laptops.
Improving Availability of Branded Products in Non Metro Cities: Companies are working on improving the last mile delivery in smaller towns and villages. This will significantly help in penetration of branded products in these markets. Collaborating with existing local delivery companies, emerging delivery startups and Indian post has helped the cause.
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 with introduction of new technology and growing demand from smaller cities will continue to have positive impact on the market. The focus on development of premium segment will lead 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.
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
For More Information, refer to below link:-
India Audio Accessories Market
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
