TWS Segment facilitates the growth of wearable technology with Apple and Xiaomi taking the leading positions in Q3 2020
In 2020, the wearable technology segment was greatly domineered by smartwatches and true wireless stereo (TWS) earpieces. The recent research by Counterpoint has suggested that the two categories have been driving up the demand within the segment and together accounted for 93% of the overall wearable technology market in Q3 of 2020, with earwear segment contributing to 52% of total shipments and smartwatches slightly falling behind with a strong 41% position. Based on the Counterpoint’s detailed overview, Apple has become the wearable segment leader, contributing to 29% of TWS and 28% of smartwatch products of the total shipments during the third quarter of 2020. Whereas, Xiaomi proudly takes the second position with a 13% market share in Q3 2020.
Samsung and JBL have managed to get into the Top 10 TWS list with 5% total market share for each company. Simultaneously, Sony and Realme made it to the ranking as well, slightly falling behind with their 2% of the market share. A senior analyst at Counterpoint Research, Liz Lee, has made a comment regarding the surprising uprise of Realme - “Building on strong hearables momentum, a recent entry into smartwatches and strength in online, Realme could repeat its smartphone success to become 2021’s dark horse in wearables'.' Finally, Jabra, JLab, QCY, and Edifier have finished off the Top 10 TWS earpieces sales lists.
Counterpoint Research has further projected a sharp increase of 83% for the TWS shipments, which will amount to 238 million units. The smartwatches category is expected to maintain lower spending and grow only by 2%, reaching only 100 million units. Furthermore, the Counterpoint offers to pay closer attention to the affordable options, noting that the most significant potential lies within the budget-friendly brand categories. The research further pointed out that half of Top 10 list positions were taken by companies offering low budget categories of $50 and less. This is precisely the strategy behind Xiaomi’s success in the third quarter of 2020.Source