According to Counterpoint Research’s estimation that Apple’s market share fell to 45% in Q3 2019, and that it "likely" represents more than 50% of the market share on an annual basis, other market research firms estimate Apple's share of the true wireless market to be significant higher, between 60% and 75%, or even more if those calculations also include Beats. Still, even Counterpoint Research agrees that Apple is expected to show a significant turnaround in Q4 fueled by its new model, AirPods Pro, which has gained huge popularity since the launch in late October. "In 2020, Apple will maintain a strong market leadership based on its loyal customer base, with advanced product and marketing strategies," the company states.
As the market research analysts state, in 2020, the market will be more dynamic as tech giants such as Amazon, Google and Microsoft are entering the true wireless hearables industry, and existing smartphone makers such as Samsung, Xiaomi and Huawei will expand their business aggressively. While the rapid growth of the Chinese market is prominent, Chinese players are expected to pick-up further in 2020. Not only global brands but the emerging Chinese local brands in low-end products will also command attention.
Now new models are ceaselessly released with various features and functions, including noise cancellation, bio-sensing, waterproofing and integrated AI voice assistants in broader price ranges from low-cost entry to high-end premium. In addition, demand for replacements from consumers who purchased first generation products two or three years ago, will likely soar, as well as first time purchasers who are now entering the market in large numbers.
As Liz Lee, Senior Analyst at Counterpoint Research, says, “the true wireless hearables market will have a similar growth momentum as the early smartphone market a decade ago. The CAGR of the smartphone market from 2009 to 2012 was 80%, and the true wireless hearables market is expected to grow at 80% CAGR from 2019 to 2022 as well. Based on future product strategies focused on voice communications from global tech companies and their efforts to create high-added value, the true wireless hearables are just becoming one of the daily necessities among consumers.”
The latest report, "Global True Wireless Earbuds (Hearables) Market Forecast (2019-2022) by Brand and Region” is available for purchase now.