Counterpoint, in its Global Herbables (TWS) Market Forecast, 2021-2023 report, predicts significant growth in the global TWS earbuds market in 2021. Four per cent share from 2020, according to the report. And Xiaomi and Samsung are forecast to retain nine and seven percent market share, respectively.
The market for TWS earbuds is expected to move aggressively in the fourth quarter of 2021, with Apple Pal and other brands expected to launch their new products, the report said.
“The most anticipated is Apple’s new release, the first in two years. “We expect it to be one of the biggest drivers of TWS market growth from Q42121 to next year,” said Liz Lee, senior research analyst at Counterpoint.
Although Apple Paul is expected to continue its leadership, the research firm predicts higher growth in the lower to mid-end segments, which will continue throughout the year. Still, the trend will gradually move into the mid-to-high-price segment in the future, Lee said.
“Most premium brands will add advanced features and functionality to their new models and add high value in the long run. In the meantime, lower to mid-priced brands will increase price competitiveness to compete for market share.
In 2020, Counterpoint noted that the market for TWS earbuds grew by 78% year-on-year, reaching a little over 233 million units from the initial annual estimate. However, lower and mid-priced segment products were said to be the growth drivers in 2020.