Global really wireless (TWS) earbuds market will grow 33 percent year-on-year in 2021 and reach 310 million units, according to market research firm Counterpoint. The firm said that the proportion of sales of the low- to mid-end models has increased faster than expected because of the economic downturn and related uncertainties. That growth has also influenced the market performance of top of the range brands. Then again, companies including Apple, Xiaomi, and Samsung led the market in 2020, and are expected to keep their leadership positions this year. The trend of working and studying from home owing to the COVID-19 pandemic could also be likely to play a imperative role in the segment’s growth in 2021.
Counterpoint in its Global Hearables (TWS) Market Forecast, 2021-2023 outline, has predicted a appreciable growth in the global TWS earbuds market in 2021. Apple will take care of its leadership by selling around 84 million units of its AirPods, though it is going to lose its share by four percent from 2020, according to the outline. And Xiaomi and Samsung are forecast to keep their nine and seven percent market share, respectively.
The market of TWS earbuds will make aggressive moves in the fourth quarter of 2021 around the time when Apple and other brands are expected to launch their new products, the outline said.
“Most anticipated is a new release from Apple, its first in two years. We expect it to be one of the vital biggest drivers of TWS market growth from Q4 2021 to the next year,” said Liz Lee, a senior research analyst at Counterpoint.
Even though Apple is expected to continue its leadership, the research firm predicts that there will be high growth of the low- to mid-end segment, which will continue through the year. The trend will, on the other hand, gradually shift to the mid- to high-price segment at some point, Lee said.
“Most premium brands will add advanced features and more than a few functions to their new models and create high value addition in the longer term. Meantime, low- to mid-priced brands will further beef up price competitiveness to compete for market share,” she added.
In 2020, Counterpoint famous that the market of TWS earbuds grew 78 percent year-on-year and fairly exceeded the initial annual estimate for the year to succeed in 233 million units. Then again, low- and mid-price segment products were said to be the growth drivers in 2020.
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