According to market research firm Counterpoint, the global truly wireless (TWS) market will grow by 33% year on year to 310 million units in 2021. According to the company, the proportion of low- to mid-sales models was higher than expected due to the economic downturn and related uncertainties. This expansion has also had an impact on the market performance of high-end brands. Companies such as Apple, Xiaomi, and Samsung, on the other hand, led the market in 2020, and this trend is expected to continue this year. Following the COVID-19 pandemic, trends in work and home studies are expected to play a significant role in the segment’s growth in 2021.
In its 2021-2023 Global Hearables (TWS) forecast, Counterpoint predicts significant growth in the global TWS more buds market in 2021. According to the report, Apple maintains its market leadership by selling approximately 84 million AirPods but will lose 4% of the market by 2020. Xiaomi and Samsung are expected to maintain their respective market shares of 9% and 7%.
TWS earbuds are expected to make aggressive moves in the fourth quarter of 2021, around the time new Apple and other brands are released, according to the report.
“The company’s first release in two years, and Apple’s first, is the most anticipated. From 4-2021 to the following year, one of the main drivers of TWS market growth is expected.” According to Liz Lee, the senior research analyst at Counterpoint,
Although Apple is expected to maintain its lead, the research firm predicts that the low-to-medium-final segment will grow rapidly throughout the year. According to Lee, the trend will gradually shift to the mid-price segment in the future.
“The majority of premium brands incorporate advanced features and features into their new models, resulting in long-term value. Meanwhile, low- to medium-priced brands will increase their price competitiveness to compete for market share.”
According to the counterpoint, the TWS earbuds market will grow by 78 per cent per year in 2020, which is slightly higher than the original annual estimate of 233 million units. Low- and medium-priced products in the segment, on the other hand, are expected to drive growth in 2020.
