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Re:

boAt led India’s TWS market in 2024—but realme and OnePlus were gaining

boAt led India’s true wireless earbud market by 2024 shipment share, but the result does not cover every headphone category or prove revenue leadership. OnePlus and realme were smaller yet growing challengers.
From TheFinanceBase Team3 min to read
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Yes—but only under a narrower definition than the headline suggests. boAt shipped more true wireless stereo (TWS) earbuds in India than either realme or OnePlus during calendar 2024. Counterpoint’s figures put boAt at 32.9% of India’s TWS shipment market, versus 6.2% for OnePlus and 5.1% for realme. That is shipment leadership, not proof that boAt led every headphone category, retail sell-through, revenue, profit or product quality.

What boAt actually won

The defensible claim is: boAt was India’s leading TWS earbud brand by shipment share in 2024. TWS means separate wireless earbuds stored in a charging case. It does not automatically include wireless neckbands, Bluetooth on-ear or over-ear headphones, wired earphones or gaming headsets.

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The figures measure units shipped into the market. Shipments can differ from units consumers ultimately buy, and they do not reveal revenue, margins, customer satisfaction or sound quality. The clearest exact comparison covers calendar 2024, not a live ranking on a particular day in 2026.

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Economic Times Telecom, reporting Counterpoint data, said India’s TWS market exceeded $1.3 billion in value in 2024: its report lists the brand shares.

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India’s 2024 TWS shipment ranking

Brand Shipment share Rank
boAt 32.9% 1st
Boult Audio 12.9% 2nd
Noise 9.7% 3rd
OnePlus 6.2% 4th
realme 5.1% 5th

Counterpoint rounded boAt’s share to 33% in its own February 11, 2025 overview. The listed brands account for about 66.8% combined; the remainder belongs to other manufacturers.

Scale was boAt’s advantage, not necessarily growth

India’s TWS shipments grew 14% year over year in 2024, although Counterpoint described that as the category’s slowest growth period and a sign of increasing maturity. boAt remained No. 1 while its shipments reportedly fell 4% year over year. Boult Audio and Noise grew faster from smaller bases.

Counterpoint associated boAt’s position with value-oriented pricing, a broad affordable range, online reach, festival promotions and wider distribution, including smaller cities. Nearly 75% of TWS devices were sold online in 2024, while offline shipments grew 42% year over year as brands expanded into Tier II and Tier III locations. Those are analyst explanations and market correlations, not a controlled test proving that any one factor caused boAt’s lead.

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Why the comparison with Chinese brands is more complicated

Calling this “boAt beating China” is misleading. The relevant comparison is between individual brands, while the market contains Indian brands such as boAt, Boult Audio and Noise; Chinese brands such as OnePlus, realme and Xiaomi; and global brands including JBL, CMF and Apple. Counterpoint said global brands held 6% in 2024.

Chinese brands collectively held 16% of India’s TWS market in 2024, up 33% year over year. OnePlus products including Nord Buds 2R and Buds 3 were important contributors. realme was the fastest-growing leading brand in the cited data, with 55% shipment growth, helped by a refreshed portfolio. Rapid growth did not come close to overtaking boAt’s 32.9% share.

Why OnePlus and realme can gain quickly

  • Existing smartphone customers provide a ready audience for companion earbuds.
  • Phone-and-earbud bundles, online launches and flash sales can accelerate unit shipments.
  • Companion apps and ecosystem features can make switching within a brand easier.
  • Feature competition—such as active noise cancellation, low-latency modes and multipoint connections—helps newer models stand out.

None of these advantages establishes that either brand has better sound, durability or reliability; those require product-level testing rather than market-share data.

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What the 2025 update says

Public reporting on Counterpoint’s 2025 data put India’s annual TWS shipment growth at approximately 1%. The fourth quarter grew 12% year over year, helped by festive demand. Domestic players including boAt, GoBoult and Noise retained larger shares, while OnePlus and realme each grew shipments by more than 20% year over year. See Moneycontrol’s 2025 report.

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An IDC-based Statista listing identifies boAt as the 2025 shipment leader, but its exact percentage is paywalled: Statista’s entry. The accessible evidence therefore supports “boAt remained the reported 2025 leader,” not a precise 2025 gap or a confirmed 2026 ranking.

How to interpret the result as a buyer or investor

  • Unit scale: boAt had a very large lead in 2024 shipments.
  • Momentum: realme’s 55% 2024 growth and the later 20%-plus growth reported for realme and OnePlus show faster expansion from smaller bases.
  • Category risk: a mature market with roughly 1% growth in 2025 gives competitors less room to grow without taking share.
  • Purchase decision: shipment leadership does not make every boAt model the best choice. Compare fit, ANC, microphones, battery life, codec support, multipoint, water resistance, warranty and the actual sale price.

Brand origin also does not establish where a particular earbud was designed, sourced or assembled. Smartphone rankings can group OnePlus with OPPO and should not be substituted for TWS data.

Bottom line

boAt clearly beat realme and OnePlus on India TWS shipments in 2024, with 32.9% share against 5.1% and 6.2%. It won on scale, not necessarily on growth, revenue or product quality. Chinese brands collectively gained ground, and OnePlus and realme continued growing in 2025. The evidence does not justify saying boAt led every headphone category or was definitively No. 1 in 2026.

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