The global market for TWS (true wireless headphones) is expected to grow 33% year on year in 2021, reaching 310 million units. This follows the massive 78% year-over-year growth the market experienced in 2020.
According to a Counterpoint search report, the TWS market saw shipments that slightly exceeded expectations in 2020, reaching 233 million units. However, the performance was mainly driven by the low to mid-range segments. In 2020, the coronavirus pandemic had an impact on the TWS market in China last year, but the situation has improved, with production capacities also operating at full capacity. In addition, the market demand for the product online has been higher than for other electronic devices.
Notably, sales were also supported by working from home and online education, which made consumers more likely to purchase electronic gadgets and more. Thus, the proportion of low to mid-range TWS earphones recorded better sales during this period. While vaccines across the world have helped mitigate the impact of COVID-19, pent-up demand for high-end TWS is not expected to explode until the end of the third quarter of 2021, according to the report.
According to senior research analyst Liz Lee, âThe most anticipated is a new release from Apple, its first in two years. We expect this to be one of the main growth drivers for the TWS market from the fourth quarter of 2021 until next year. Apple will maintain strong market leadership through its loyal customer base, although its share will inevitably decline as competition intensifies. At this point, the market will gradually focus on the mid to high price segment, as vaccinations help improve consumer confidence. “
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