BOULT, a leading homegrown wearable brand, has showcased significant growth in the True Wireless Stereo (TWS) and overall wearables market, as per the latest report by the International Data Corporation (IDC). The report reveals that BOULT registered a 52% increase in shipments, establishing itself as the fastest-growing wearable brand in India. While the wearable sector faced an 11.3% year-on-year (YoY) decline, BOULT expanded its market share from 9.7% in 2023 to 12.9% in 2024, solidifying its leadership in the TWS segment.
Market Performance Amid Industry Challenges
The Indian wearable market witnessed a challenging period, with smartwatch shipments plummeting by 34.4% YoY, while earwear saw a slight 3.8% growth. Despite the overall slowdown, BOULT defied industry trends by achieving double-digit growth through product innovation, strategic pricing, and premium positioning in the smart audio segment. The company’s total market share grew from 6.9% in CY23 to 8.6% in CY24, reflecting a 10.8% YoY increase. Additionally, BOULT’s TWS market share surged from 10.7% in CY23 to 13.0% in CY24, marking an impressive 32.8% YoY growth.
Revenue Growth and Expanding Presence
In the financial year 2024-25, BOULT reported a revenue of ₹600 crore, with projections to exceed ₹800 crore (excluding taxes) in the current fiscal year. The brand’s Gross Merchandise Value (GMV) has surpassed ₹1,000 crore, underscoring its strong consumer demand and expanding market presence. Strengthening its premium positioning, BOULT has extended its BOULT x Mustang collaboration, which has led to a 10% market share increase within the ₹1,500 – ₹2,000 TWS segment.
Commitment to Innovation and Local Manufacturing
Varun Gupta, Founder of BOULT, stated, “Our continued growth in the TWS and wearables market reflects our unwavering commitment to innovation, design, and quality. We aim to provide cutting-edge technology at accessible price points while strengthening our role in the Indian manufacturing ecosystem.”
BOULT remains dedicated to expanding its footprint by delivering high-quality products tailored for Indian consumers. The company also emphasizes local manufacturing, sourcing product design and packaging materials from within India to bolster the country’s technological ecosystem.
