The ongoing pandemic has halted many businesses, and the supply chain has taken some huge critical damage. However, despite the economic downfall, it seems that the global TWS wearables market managed to sustain its growth trend in Q1 2021.
According to Counterpoint Research’s latest Global Hearables (TWS) Market Report, TWS unit sales grew 44% YoY in Q1 2021. The report also stated that China showed the highest growth YoY while North America continued to occupy the largest share. Like last time, Apple continued to dominate the market; however, its share declined due to the intensified competition.
The report also mentioned that the Cupertino giant’s absence of a new product paved for other competitors to rise in the market. Xiaomi came in second; however, it also lost its share slightly compared to the previous quarter. Samsung, however, expanded its share of QoQ and narrowed the gap with second place.
Largely customers have decided to go for mid-range products and budget TWS amid the COVID-19 pandemic. However, the segment’s share slightly recovered in Q4 2020 and reached 46% in Q1 2021. “Now is the time for companies to prepare for the change in consumer demand trends as vaccinations are expected to help consumer sentiment improve further in the second half of the year.”
Going into the details, Apple dominated the over-$100 segment with a 57% share and it’s closely followed by Samsung at 17%. Samsung performed extremely well in the segment. “In highly competitive markets like Asia and Europe, Samsung achieved a double-digit share with good performance of all the models. Samsung successfully introduced the Galaxy Buds Pro, timed to connect with the launch of the Galaxy S21 in January. The company also pushed the sales of earlier models like the Galaxy Buds Live and through aggressive marketing promotions.”
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