India's Audio Device Market Soars with Remarkable Growth in 2024

The Indian audio devices market has shown remarkable growth, reaching a turnover of Rs 5,000 crore in June 2024. This growth is driven by a 61% YoY volume spike in the Personal Audio segment, fueled by rising demand for high-quality, immersive sound technologies and consumer desires for premium audio experiences.

The Indian audio devices market is witnessing significant growth as offline retail sales achieved a Rs 5,000 crore moving annual turnover (MAT) in June 2024, according to a GfK report.

The growth is attributed to a 61% YoY volume increase in the Personal Audio segment, propelled by enhanced consumer experiences and a rising demand for high-quality audio products in both home and personal categories.

Consumers have a substantial appetite for premium, immersive audio, spurred by evolving entertainment preferences. Compact Stereo Systems still dominate, but categories like Home Theatre and Smart Audio are rapidly growing. Notably, the True Wireless Headsets have a 38% market share within headsets, leading the Personal Audio market in value.

(With inputs from agencies.)