Apple 5q211a Xiaomi Lead Q3 as TWS Segment Becomes Top Driver of Wearable Growth in 2020: Counterpoint

Combined, earwear, and smartwatches ed for 93 percent of the overall market in Q3 2020, according to the report. 6f3d3q

By Tasneem Akolawala | Updated: 16 January 2021 17:25 IST

Apple, Xiaomi Lead Q3 as TWS Segment Becomes Top Driver of Wearable Growth in 2020: Counterpoint

Apple was responsible for 29 percent shipments of TWS products in Q3 2020 5k246d

Highlights

Earwear had 52 percent of wearable shipment share in Q3 2020
Xiaomi enjoyed 13 percent TWS market share in the third quarter
Counterpoint sees big potential in budget TWS offerings

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Smartwatches and true wireless stereo (TWS) earbuds are reported to have spearheaded the growth of the wearable segment in 2020, new Counterpoint Research report suggests. In Q3 2020, the report suggests that Apple was responsible for 29 percent shipments of TWS products and 28 percent of smartwatch shipments. The total earwear segment raked in 52 percent of wearable shipment share in Q3 2020, whereas 41 percent was held by smartwatches. Combined, they ed for 93 percent of the overall market in Q3 2020.

The new research Xiaomi that enjoyed 13 percent market share in the quarter.

Samsung and Jabra, JLab, QCY, and Edifier.

The report predicts that the annual TWS shipments are expected to grow 83 percent to 238 million units, while smartwatches will weather subdued category spending to increase two percent to tip the 100-million mark. Counterpoint sees big potential in budget offerings and notes that half of the top 10 TWS manufacturers in Q3 2020 were budget brands with sub-$50 and even sub-$20 offerings. Xiaomi seems to have seen the most success with this strategy and took the number two spot in Q3 2020.

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