company news about Market Trends for TWS earbuds

  The year 2020 saw the market for Truly Wireless earbuds (TWS) expand. The pandemic and consequent rise in work from home as well as increased dependency on smartphones for entertainment led to the exponential demand for TWS earbuds. Depending on what users are looking for -- sound quality, comfort, battery life, or noise cancellation, there is a range of options for all. Here's looking at key trends that shaped the TWS market during the year.

Truly wireless earphones market grows big

The economic slowdown caused by the Pandemic did not affect the TWS category. As per IDC, TWS made for 39.7% of the overall earwear category, as close to 4 million TWS devices were shipped during the third quarter of the year 2020, recording a four-digit y-o-y growth of 1156.3%.

OnePlus, Vivo, Oppo, Realme, Xiaomi entered the truly wireless earbuds segment

The year 2020 saw Chinese smartphone brands Oppo, Vivo, OnePlus, and Xiaomi enter the truly wireless earbuds segment in India. The entry of these companies made TWS earbuds affordable.

Globally Apple continued to lead the market

Globally, Apple continues to lead the truly wireless earbuds space -- a market it established. However, though the company continues to lead the premium segment, it lost market share as competitors release cheaper alternatives.

The market is likely to grow further in 2021

As per a recent report by Canalys, due to a rise in engagement in indoor activities as well as outdoor sports and recreation, there is a greater than expected growth for TWS earbuds. Shipments of TWS earbuds are expected to reach over 350 million units and grow 39% in 2021, much more than wearable bands, which as per the report is expected to grow at 12%.