A brand new report launched by Counterpoint Analysis, says the wearables market continues to develop rapidly. The newest analysis reveals that 52% of wearables in Q3 2020 consisted of hearables. Smartwatches and health trackers accounted for 41%. Skinwear, bodywear, and eyewear accounted for the remaining 7% share.
Supply: Counterpoint Analysis. *Consists of smartwatches and bands.
The hearables class alone has grown by 83% in comparison with 2019. A complete of 238 million hearables items are had been bought final 12 months.
The development round eradicating jacks and earphones from gadgets and bins is changing into an enormous drivers for TWS phase development […] It additionally helps that cellular media consumption continues to develop, making TWS the following must-have accent.” – Liz Lee, Counterpoint Analysis Senior Analyst
Smartwatches, in the meantime, have seen stifling development in the direction of the tip of 2020, however are anticipated to see a small uptick in 2021. Senior Analyst Sujeong Lim says “The normalization of economies coupled with elevated curiosity in well being and health will assist the smartwatch market develop.” If the promoting worth of smartwatches steadily drops, Lim predicts the phase to proceed to develop.
Going again to hearables, Apple was nonetheless within the lead as of Q3 2020 with 29% market share. Xiaomi got here in second with 13% and Samsung is a distant third with 5%.
5 of the highest ten manufacturers bought price range TWS hearables with worth factors beneath $50. Hearables have gotten increasingly inexpensive and can proceed to develop in market share as demonstrated by Xiaomi being within the quantity two spot. Realme is at the moment at 2% share in Q3 2020, however analysts imagine that the model’s robust on-line presence and its historical past with exploding smartphone market share may mirror with hearables as effectively.