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The Indian audio devices market saw impressive growth in 2024, with offline retail sales reaching Rs 5,000 crore in moving annual turnover (MAT) by June, according to a GfK report. A 61% year-on-year (YoY) volume growth in the Personal Audio segment, driven by immersive sound technologies and increasing consumer demand for high-quality audio, contributed to this rise. The trend of premiumisation, where consumers seek superior, cinematic audio experiences, has further fueled market expansion.

While compact stereo systems dominate, fast growth has been observed in home theatre and smart audio categories. The personal audio market alone was valued at Rs 3,400 crore, experiencing 32% YoY value growth. Headphones, headsets, and mini/Bluetooth speakers are becoming essentials, especially for Gen Z, who prioritize flexibility, affordability, style, and quality. True Wireless Headsets hold a significant 38% share within the headsets category, while True Wireless devices lead the market by value, contributing 50%. Neckbands maintain the largest market share by volume, accounting for 55% of sales.

Mini/Bluetooth speakers saw a 15% YoY value growth, with entry-level products priced under Rs 2,000 driving 3% of sales. The rise of new audio content formats, like podcasts and audio series, is also propelling demand for wireless devices with advanced features such as noise cancellation and voice assistant integration.

In home audio, loudspeakers, particularly soundbars, saw 24% YoY growth, with Rs 1,100 crore in sales. Large retail chains dominate sales, especially in South Indian cities like Bangalore, Chennai, and Hyderabad. Premium 5.1 channel systems are gaining popularity, with 23% of sales from high-end products.