The global True Wireless Stereo (TWS) market is expected to grow an impressive 33% year-over-year (YoY) in 2021, reaching 310 million units.
According to Counterpoint Global Hearables (TWS) Market Forecast, the TWS market grew 78% YoY in 2020 despite the general economic slump triggered by the pandemic. The market beat the estimates in 2020 to touch 233 million units.
As the Covid-19 situation has not eased in many countries, the report said, the pent-up demand for premium TWS devices is unlikely to grow exponentially until late Q3 2021. Brands like Apple are expected to launch next-generation products from Q4 onwards. The low-to-mid-end growth will continue to grow at a fast pace.
Apple tops, but doesn’t grow
In terms of brands, Apple dominated the market, but its share declined steadily through the year and fell below one-third of the TWS market.
This year, it will remain a leader selling around 84 million units, but still lose share by 4%.
Xiaomi and Samsung will follow Apple with shares similar to those in 2020, the report said.
Senior Research Analyst Liz Lee said, “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.”