According to market research firm Counterpoint, the worldwide wireless (TWS) earbuds market will grow 33 percent year-over-year in 2021 and reach 310 million units. The firm said that the ratio of sales of low-mid-end models increased faster than expected due to the economic downturn and related uncertainties. This growth has also affected the market performance of high-end brands. However, companies including Apple, Xiaomi, and Samsung led the market in 2020, and are expected to maintain their leadership positions this year. The tendency to work from home and study due to the COVID-19 epidemic may also play an important role in the development of the segment in 2021.
In its Global Heerables (TWS) Market Forecast, 2021-2023 report, Counterpoint predicts considerable growth in the global TWS earbuds market in 2021. Apple will maintain its leadership by selling approximately 84 million units of its AirPods, though it will lose four percent of its share by 2020, according to the report. And Xiaomi and Samsung are forecasting to maintain their nine and seven percent market share.
The report said that the market for TWS earbuds will take an aggressive stance in the fourth quarter of 2021, when Apple and other brands are expected to launch their new products.
“The much-awaited Apple release is a new release, marking the first time in two years. We expect it to be one of the biggest drivers of TWS market growth from Q4 2021 to next year, said Liz Lee, a senior research analyst at Counterpoint.
Although Apple hopes to continue its leadership, the research firm predicts that there will be a high growth of the low-to-mid-end segment, which will continue through the year. However, the trend will gradually shift to the high-value segment in the middle, Lee said.
“Most premium brands will add advanced features and various functions to their new models and create higher price increases in the long run. Meanwhile, low-to-mid-price brands will further enhance price competition to compete for market share, ”he said.
In 2020, Counterpoint noted that the market for TWS earbuds grew 78 percent year-over-year and rose slightly to 233 million units from the year-earlier initial estimate. However, the low- and mid-price segment products were said to be growth drivers in 2020.