According to a new Counterpoint Research report, smartwatches and true wireless stereo earbuds (TWS) are said to have fueled the growth of the wearable segment in 2020. In the third quarter of 2020, the report says Apple was responsible for 29 percent of shipments of TWS products and 28 percent of smartwatch shipments. The entire earwear segment accounted for 52 percent of the share of wearable broadcasts in the third quarter of 2020, while 41 percent was held by smartwatches. Together they made up 93 percent of the total market in the third quarter of 2020.
The new research report from Counterpoint Research provides details on wearable shipments in Q3 2020. According to the report, the TWS segment was the biggest driver of growth in 2020, and Apple had the biggest revenue in Q3 2020. As previously mentioned, 29 percent of TWS shipments were made in the third quarter of 2020, followed by Xiaomi, which had a 13 percent market share in the quarter.
Samsung and JBL were both responsible for five percent of TWS shipments in Q3 2020, and Realme was also part of the top 10 TWS list alongside Sony with a two percent market share. “Building on the strong dynamism of hearing aids, recent entry into smartwatches and strength in the online space, Realme could repeat its smartphone success and become the dark horse of wearables in 2021,” commented Liz Lee, senior analyst at Counterpoint Research. Other manufacturers in the top 10 of the TWS shipping list in Q3 2020 are Jabra, JLab, QCY and Edifier.
The report predicts that annual TWS shipments are expected to increase 83 percent to 238 million units, while smartwatches will increase spending on subdued categories by two percent to break the 100 million mark. Counterpoint sees great potential in budget offerings and notes that half of the top 10 TWS manufacturers in Q3 2020 were budget brands with offers under $ 50 and even under $ 20. Xiaomi seems to have achieved the greatest success with this strategy and took second place in the third quarter of 2020.
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