Global TWS market to see 33% growth in 2021, Apple set to lead: Report
The
global TWS (True Wireless Stereo Headset) market is expected to grow 33 per
cent (year-over-year) in 2021, reaching 310 million units, according to a new
report.
Apple
will remain a leader selling around 84 million units but still lose share by 4
per cent.
Apple
was expected to defend its top position despite its market share decline from
31 percent to 27 percent. China's Xiaomi was projected to see its presence
remain the same as last year at 9 percent.
At
third spot, Samsung's market share in 2021 was estimated to stay unchanged at 7
percent, according to market tracker Counterpoint Research.
Major
top brands such as Apple are likely to launch next-generation products, which
will boost the TWS market further.
"The
most anticipated is a new release from Apple, its first in two years. We expect
it to be one of the biggest drivers of TWS market growth from Q4 2021 to the
next year. Apple will maintain strong market leadership based on its loyal
customer base, although its share will inevitably fall with the intensifying
competition," said Senior Research Analyst Liz Lee in a statement on
Wednesday.
As
Covid-19 will unlikely ease in a short time despite the spread of vaccination,
the pent-up demand for high-end TWS is not expected to explode until late Q3
2021.
"At
that point, the market focus will gradually shift to the mid- to high-price
segment as vaccinations help consumer sentiment improve. Then, most premium
brands will add advanced features and various functions to their new models and
create high value addition in the long term," Lee noted.
Meanwhile,
low- to mid-priced brands will further enhance price competitiveness to compete
for market share.
In
terms of brand performance, there was no big surprise in 2020. Apple continued
to dominate but its share declined steadily through the year and fell below
one-third of the TWS market.
The
market slightly exceeded the initial annual estimate for 2020 to reach 233
million units, mainly driven by the strong performance of low- and mid-price
segments, the report mentioned.
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