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

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

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

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

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 accounted for 93 percent of the overall market in Q3 2020.

The new research report from Counterpoint Research offers details on wearable shipments in Q3 2020. The report says that the TWS segment was the largest driver of growth in 2020, and Apple accounted for the most sales in Q3 2020. As mentioned, it raked in 29 percent of TWS shipments share in Q3 2020, followed by Xiaomi that enjoyed 13 percent market share in the quarter.

Samsung and JBL both were responsible for five percent TWS shipments in Q3 2020, and Realme was also a part of the top 10 TWS list alongside Sony with 2 percent market share. “Building on strong hearables momentum, recent entry into smartwatches and strength in online, Realme could repeat its smartphone success to become 2021's dark horse in wearables,” commented Counterpoint Research senior analyst Liz Lee. Other manufacturers in the top 10 TWS shipment list in Q3 2020 include 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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