According to the leading market analyst firm, Canalys, the shipments of wearable bands and TWS devices, will surpass 200 million units and 350 million units respectively in 2021. The market analysis indicates that, in the pandemic situation, customers are more attracted to smart wearable and smart hearable accessories.
Market analysis indicates that the usage of these smartphone accessories is increasing because of the pandemic. Indoor activities such as work from home, remote learning, home entertainment, these all have increased in recent months.
Seeing the forecast of Canalys, it is expected to ship 436.5 million units in 2020, 558.3 million units in 2021, and 760.4 million units in 2024. In 2021 the shipment of wearable devices and TWS headsets will be 12% and 39% respectively.
Cynthia Chen, a research analyst of Canalys said, “The pandemic will prolong replacement cycles for smartphones. However, the ‘lipstick effect’ will drive consumers to spend on smaller, less costly items during an economic downturn to meet their buying pleasures…Consumers’ attention to health and wellness has increased significantly during the pandemic, which is a great opportunity for wearable devices, such as those from Xiaomi, Garmin, Fitbit, and Huami, etc. Engagement in indoor activities such as remote learning, working from home and home entertainment, as well as outdoor sports and recreation also continued to rise. This usher is greater than expected growth, particularly for TWS headphones, such as those from Apple, Samsung, Jlab, and QCY, etc.”
As we all know, a vast number of popular smartphone brands are from China. The Chinese smartphone vendors are aware of this situation, and they want to take the opportunity in the overseas market in wearable and TWS earphone categories.
Lastly, Chen added: “While users are expected to tighten their spending, they continue to demand devices to do even more and provide an excellent user experience. The challenge here is to bring incremental upgrades to ever more affordable devices while ensuring seamless integration that must translate to valuable features to help users in areas such as wellness and smartphone entertainment.”
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