With rising disposable incomes, availability of affordable device options, a growing Gen Z population and the expanding digital content consumption, India’s audio devices market is experiencing remarkable growth, according to a new report. <\/p>\n
The audio devices market in offline retail has reached Rs 5,000 crore, driven by a 61 per cent volume growth (year-on-year) in the personal audio segment, according to GfK- An NIQ Company, a leading global market and consumer intelligence firm.
\nLoudspeakers, led by soundbars, saw 24 per cent YoY growth, with sales from lower-tier towns rising to 30 per cent in the July 2023 till June 2024 period. <\/p>\n
The home audio segment, valued at Rs 1,600 crore, experienced a 6 per cent YoY growth in volume. The personal audio market, valued at Rs 3,400 crore, experienced a 32 per cent YoY growth. <\/p>\n
Anant Jain, head of customer success-tech and durables, GfK-An NIQ Company said that as home and personal audio solutions become more sophisticated and accessible, they are becoming integral to the lifestyle of the Indian consumer. <\/p>\n
With the evolving entertainment landscape, consumers increasingly seek premium, cinematic audio experiences, making the sector ripe for growth and revenue opportunities. <\/p>\n
Despite an overall 11 per cent YoY volume decline in audio home systems, the premium segments are making significant strides. <\/p>\n
The entry segment, priced below Rs 3,000, dominates 27 per cent of the market, while the premium segment (priced above Rs 8,000) accounts for 23 per cent, reflecting a shift towards higher-quality products. <\/p>\n
The North Zone contributes 31 per cent of home audio sales, with a notable increase in demand from smaller cities and lower-tier towns, representing a significant growth opportunity for brands. <\/p>\n
For example, tier 4 to 6 towns saw an impressive rise in sales, from 28 per cent to 32 per cent of the market, underscoring the growing importance of non-metropolitan regions, the report mentioned. <\/p>\n
The growth of loudspeakers in smaller towns and cities, contributing nearly 30 per cent of the category’s sales, also reflects the broader market trend of increasing demand from non-metropolitan areas.<\/p>\n","protected":false},"excerpt":{"rendered":"
With rising disposable incomes, availability of affordable device options, a growing Gen Z population and the expanding digital content consumption, India’s audio devices market is experiencing remarkable growth, according to a new report. The audio devices market in offline retail has reached Rs 5,000 crore, driven by a 61 per cent volume growth (year-on-year) in the personal audio segment, according to GfK- An NIQ Company, a leading global market and consumer intelligence firm. Loudspeakers, led by soundbars, saw 24 per cent YoY growth, with sales from lower-tier towns rising to 30 per cent in the July 2023 till June 2024 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-856468","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/856468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=856468"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/856468\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=856468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=856468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=856468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}