Global True Wireless Hearables Market to Grow by 90% to 230 Million Units in 2020

The size of the global market for true wireless earbuds and the emerging category of hearables is expected to reach 120 million units this year and 230 million units in 2020, growing 90% YoY, according to the findings of Counterpoint Research’s latest Hearables Market Forecast. The overall true wireless market is expected to grow at 80% CAGR from 2019 to 2022 with a similar growth momentum as the early smartphone market a decade ago.

The true wireless earbuds market for 2019 is expected to reach 120 million units and global tech giants’ strategies focused on voice communication will help sustain the strong growth momentum. The size of the global market for true wireless earbuds reached 33 million units (USD 4.1 billion) in Q3 2019, growing 22% QoQ, according to the findings of Counterpoint Research’s Hearables Market Tracker (Counterpoint applies the term “hearables” loosely to describe TWS products, which the company’s report actually differentiates).

Global online music streaming revenues grew 18% year-on-year (YoY) to cross US$11 billion in the first half of 2019, according to the latest findings from Counterpoint Research. Spotify, the market leader in online music streaming, had a 32% year-on-year growth in paid subscriptions during 1H 2019. Apple and YouTube Music are very aggressive and are going to disrupt the regionally segmented market.