Apple Ruled the Wireless Earphones market in 2020 and likely to gain market share in Q4 with new AirPods Pro Release
In 2020 Apple ruled the global TWS (True Wireless Stereo Headset) market with 31% market share. According to a new analytical report, the global TWS market is expected to grow 33% YoY (year-over-year) in 2021, reaching 310 million units.
Counterpoint reports that In 2020, the TWS market grew 78% YoY despite the pandemic-triggered economic downturn. The market slightly exceeded the initial annual estimate for 2020 to reach 233 million units, mainly driven by the strong performance of low- and mid-price segments.
Apple took 31% market share in 2020 which is more than 3X their closest competitors Xiaomi (9%) and 4X Samsung (7%) as the chart below highlights.
In terms of consumer demand, the impact has been limited, as the market has a relatively higher portion of online sales than other tech devices. Low to mid-end models showed an increase in sales which has slightly affected Apple's AirPods going into Q1 2021. That should be remedied when Apple releases AirPods 3 next month at WWDC 2021.
The TWS market will make big gains in Q4 when Apple is expected to release a new version of their AirPods Pro. Senior Research Analyst Liz Lee: "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."