The global truly wireless earbud market has seen great growth last year. In 2021, the global market grew by 21 percent year on year in terms of sales, while it saw a 25 percent growth in terms of value.
According to a Counterpoint Research report, this growth rate was slightly lower than initial projections due to the impacts of Coronavirus. But despite these issues, the TWS earbuds market still managed to reach 300 million units in shipments. The surge was likely fueled by the advancement in TWS earbuds and their features. This includes features like ANC (Active Noise Cancellation) and extended play time rising at an affordable price tag.
Furthermore, various brands also started raising their focus towards expanding their smart ecosystem, which also led to a rise in competition and sales in the market. Apple still managed to retain the lead the segment, with its AirPods and AirPods Pro that saw robust sales throughout the year. On the other hand, Samsung saw a sizeable rise of 33 percent year on year thanks to its Galaxy Buds Pro and Galaxy Buds 2.
Senior Analyst Liz Lee, “The $50-$100 segment grew significantly YoY, as Xiaomi, which had focused on the sub-$50 segment, tried to expand its lineup to the $50-100 range. Further, the competition in the $50-$100 segment intensified, with smartphone OEMs like OPPO, OnePlus and realme pitted against emerging brands like Skullcandy, JLab and Nothing. All this competition resulted in new products offering good quality and more features at reasonable prices and pushing the market growth in 2021.”
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