Counterpoint

It is estimated that the global TWS earphone shipment in 2020 will be slightly higher than the original estimate of 220 million sets From Counterpoint

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In the third quarter of 2020, the global TWS market grew by 24% on a month on month basis, with China and the Asia Pacific region having the highest growth rate.

The expansion speed of high-end TWS brands is slowing down, while the middle and low-end brands are growing in the main markets.

China’s smart phone OEM manufacturers will continue to expand their market share in TWS.

According to the latest research of global TWS market tracking by counterpoint in the third quarter of 2020, despite the economic crisis caused by the epidemic of cowid-19, the global TWS market still grew by 24% on a month on month basis, and the middle and low-end markets performed well. Taking into account the Black Friday and Christmas promotions in the fourth quarter, annual shipments in 2020 are expected to be slightly higher than the original estimate of 220 million units.

The continuous increase of content and the growth of mobile video consumption boosted the demand for TWS. Most importantly, the recent trend of mobile phone manufacturers to eliminate headphones and headphone jack has driven the market growth.

Regionally, China and the Asia Pacific region (except China) grew the fastest in the third quarter of 2020. North America ranked first with a 31% share, but its share fell 5% on a month on month basis due to the rapid growth of other regions.

Figure 1: Global TWS market in the third quarter of 2020

Source: Global hearables (TWS) market tracker

In the third quarter of 2020, for the first time, the price segment below $100 accounted for more than half of the market share, reaching 56%. Due to the weakening of consumer confidence and the expansion of online channels, the market awareness of low-end models has improved. In addition, the covid-19 epidemic continues to push up market demand for low-cost equipment, especially in North America and China.

Figure 2: market share of each price segment in the third quarter of 2020

Source: Global hearables (TWS) market tracker

From the brand point of view, apple is still the market leader, but its share fell 6% to 29% month on month. The market share of high-end TWS brands such as Samsung and Jabra also declined. However, Xiaomi, the largest entry-level brand, is still growing. Four models, including redmi airdots and airdots s, have entered the top ten best-selling lists in the world. Qcy and jlab also increased their market share by virtue of their expanded product lineup and competitive pricing strategy.

Figure 3: Top 10 global best sellers in the third quarter of 2020

Source: Global hearables (TWS) market tracker

In the third quarter of 2020, the global TWS market is growing rapidly, and the performance of low and medium price products is also excellent. In addition to the epidemic reasons, the gap between the middle and low-end market and the high-end market in terms of noise elimination, connectivity and other technologies continues to narrow, which is also the reason for the market growth.

This trend is expected to continue. Chinese OEM manufacturers such as Xiaomi and realme will continue to focus on medium and low price TWS products. At the same time, they are expected to continue to grow with brand awareness and extensive distribution network.

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