Canalys, an international technology market analysis and consulting firm, recently released a market forecast that predicts the global smart accessories market will exceed 500 million units in 2021, with shipments of wearable devices and TWS earphones exceeding 200 million units and 350 million units respectively.
The analysis indicates that global consumers affected by the epidemic will pay more attention to smart accessories (including wearable devices and TWS earphones) to meet their shopping needs.By 2024, asia-pacific region may surpass North America and become the world's second largest smart parts market, while Greater China will gradually become the world's largest smart parts market.
According to Canalys' forecast report, from 2020 to 2024, the CAGR of TWS headphones will be about 19.8%, far exceeding the CAGR of 6.7% for wearable devices.In 2020, the total shipments of wearable devices and TWS earphones will reach 436.5 million, among which TWS earphones will be about 250 million.In 2021, total shipments of wearable devices and TWS earphones will be about 558.3 million, while TWS earphones will be about 350 million.From 2022 to 2024, shipments of wearable devices will remain stable at around 200 million units, while TWS earphones will continue to grow steadily, with shipments expected to exceed 500 million units.
In terms of market share, Canalys predicted that the Asia-Pacific region is expected to surpass North America to become the world's second largest smart parts market by 2024, and greater China is likely to gradually become the largest smart parts market from 2021.Cynthia Chen, research analyst of Canalys, said that Chinese manufacturers have played an important role in promoting the development of the wearable market. "Although southeast Asian countries may take longer to recover from the epidemic, their market is attractive due to their large population base and proximity to China.Some Chinese manufacturers with well-established channels are using cross-border e-commerce platforms to reach users and ship goods directly from China."Chinese manufacturers are well prepared to offer more choices, especially in terms of quality and affordable devices that resonate with local users."
Canalys believes that there are two reasons for the sales growth of TWS headphones and wearable devices in the short term. One is that the impact of the epidemic will prolong the cycle for consumers to replace smart phones and other consumer electronic products with higher prices. The "lipstick effect" will drive consumers to buy products with lower prices to meet their shopping needs.Second, in addition to wearable devices related to sports and health monitoring, the increasing demand for indoor activities such as telecommuting, mobile games and other work and entertainment has promoted the rapid growth of relevant smart accessories market, especially for TWS earphones.
Canalys's analysis also pointed out that although consumers will tighten their spending, they will have higher requirements for wearable devices' performance requirements and user experience.In this regard, I love Audio network believes that TWS headset shipments can achieve steady growth in the next few years, and the upgrading and consumption upgrading of the first users is also a factor that cannot be ignored.
