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TWS market grows 68% YoY in 1H 2021 as shipments rebound

by Ville-Petteri Ukonaho | Sep 02, 2021

In the first half of last year, the Covid-19 pandemic hit markets hard; the TWS market was no exception. TWS sales stagnated almost entirely in 1H 2020 until a recovery started during the second half of that year. Q1 2021 was already rather good, growing 60% YoY from pandemic levels and second quarter continued that pattern with 76% YoY growth. However, it should be noted that comparing to last year is less useful as it was an exceptional year and doesn’t tell as much about the industry due to the pandemic that was crippling the industry last year. Overall, 1H 2021 TWS shipments grew 68% when compared to 1H 2020, which is a clear sign of rebounding market.

The big three for the second quarter 2021 were Apple, Xiaomi and Samsung. Apple continues to lead with 28% share but Xiaomi is slowly climbing to challenge Apple. Samsung takes third position. Apple’s quarterly growth in Q2 2021 was merely 5% as customers are already waiting for the next AirPods that should come in the fourth quarter. Apple has also been clearing its inventories after huge 2H 2020 shipments.

Behind the trio there is strong competition. Brands such as JBL, Honor, QCY, Oppo and boAT all outgrew the market during Q2 2021. Beats with its new Studio Buds, recorded healthy quarterly growth in 2Q 2021.

The largest QoQ growth in Q2 2021 came from Honor that is quickly taking lost volumes from Huawei especially in the China market. Local brand from India, boAT, witnessed second highest quarterly growth.

Asia Pacific is the largest region with 35% share growing 81% YoY and 24% QoQ in Q2 2021. Overall APAC grew most quarterly in Q2 2021 and big part of that growth comes from India market which is growing fast. China market continues to be the biggest individual market as it has grown past North American market already during 2020. China market grew 46% YoY and 13% QoQ in Q2 2021. However, there is a new star inside APAC region; Indian market is the new growth driver growing whopping 690% YoY and 84% QoQ in Q2 2021 and continues to grow strongly.

The TWS market is healthy. There are many newcomers appearing almost daily to markets such as China and India. The vast amount of microvendors is keeping the industry lively. Growth is slightly slowing but its still there. The new Apple AirPods will surely rejuvenate the premium market and boAT, Edifier, QCY and likes will keep the lower price tiers growing.

Bluetooth Device Tracker clients will have front row seats to the TWS and Bluetooth headset markets bringing unparalleled value.

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