Indian Consumer Electronics is one of the fastest growing industries in India with great potential and several opportunities to offer for Indian start-ups. As per reports, Consumer Electronics market amounts to USD 71,177 million in 2022 and is expected to grow annually by 5.76%.
Consumer Electronics stands at the forefront in India economy with the introduction of numerous new gadgets and gizmo. As India is world’s largest consumer markets, many foreign players are also keen to make India their base to cater customers. The category itself has undergone a significant change with consumers moving away from products with low-cost offerings, to gadgets that cater to specific needs and design.
Start-ups in Indian consumer electronics industry have extensive business opportunities. Here are some of the fastest growing consumer electronics startups that have emerged out in the Indian market.
boAt
boAt is one of India’s leading consumer electronics brands, specializing in audio products and accessories. Founded in 2016 by Aman Gupta and Sameer Mehta, it has rapidly gained traction for its trendy and youth-centric designs. The company’s product range spans headphones, earphones, speakers, and wearable devices.
boAt has secured its position as a market leader with a strong emphasis on affordability without compromising on quality. In 2022, boAt became one of India’s most recognized and preferred audio brands and secured nearly $61 Mn from Warburg Pincus and Malabar Investments.
IZI – Making Lives Easy
Established in 2016 by Ishan Haydn, IZI has become one of the leaders in consumer electronics, initially focusing on drones and expanding its portfolio to innovative products like the IZI ONE 5K action camera in the mobile accessories, IZI Sky Pro in the drone category and many others.
IZI strategically addresses a gap in the budget segment, offering drones, action cameras, and gimbals with intuitive design and superior performance. With establishing their offices in Germany and Poland, they have made their mark in the EU market. Currently, they are testing the marketing of their products in the UAE, US, and various European countries.
Portronics
Portronics is one of the prominent players in India’s consumer electronics sector, specializing in innovative and affordable gadgets. Established in 2010 in Delhi by Jasmeet Singh, the company has a diverse product portfolio encompassing portable speakers, power banks, earbuds, and other tech accessories.
With a robust distribution network, Portronics products are widely available across India. The brand’s focus on practical solutions and value-driven products positions it as a reliable choice for tech-savvy consumers seeking reliable gadgets at competitive prices.
Noise
Noise is India’s trusted wearable watch brand. Gurugram-based company, Noise was founded by Amit Khatri and Gaurav Khatri in 2014. With wide array of products including smart watches, wireless earbuds, BT neckband earphones, wireless headphones, Noise is a go-to choice for consumers seeking stylish and technologically advanced audio and wearable solutions.
With a strong online presence and strategic partnerships, Noise prioritizes user experience and affordability. The brand’s commitment to staying ahead in the tech curve is evident in its continuous innovation and introduction of feature-rich devices.
Vingajoy
Since its inception in 2018, the brand has swiftly made a mark, offering an array of products such as headphones, earphones, power banks, chargers, and mobile phone accessories. Delhi-based, VingaJoy, operates as a UBON product. It was founded by Mandeep Arora and Lalit Arora.
With a widespread distribution network, Vingajoy has positioned itself as the preferred choice for individuals seeking dependable and cost-effective electronic accessories.