TWS sales surge, global wearable device sales exceed 500 million units in 2020

Strategy Analytics released its latest research report stating that global wearable device sales increased from 384 million in 2019 to a record 527 million in 2020, a year-on-year increase of 37%. This is the first time that global wearable device sales have exceeded 500 million units.

Strategy Analytics pointed out that in 2020, headphones and bracelets/watches together accounted for 98% of global wearable device sales. TWS Bluetooth headphones and smart watches such as Apple AirPods and Xiaomi Mi Watch are the main drivers of wearable device growth.

Neil Mawston, Executive Director at Strategy Analytics, added: “If current growth trends continue, global sales of wearable devices will exceed 2 billion units by 2030, which will exceed smartphone sales. Wearable devices can be worn almost anywhere on the body, from head to toe. For example, smart glasses for augmented reality, smart rings with biosensors, or smart sneakers with pollution monitors. There is huge room for growth in wearable devices in the future.”

In recent years, wearable devices in the field of consumer electronics have become extremely popular and have attracted widespread attention as a new hotspot in the development of the electronics industry.

From the perspective of the global wearable device market, Apple, as a leading manufacturer in the field, occupies one-third of the global market share. Apple's flagship products, Apple Watch and AirPods, are the most popular wearable devices in the world. According to Apple's latest financial report data, wearable devices are Apple's fastest growing sector.

According to Apple's 2020 fiscal year performance report, other sectors consisting of wearable devices such as Apple Watch and AirPods, and smart home contributed US$30.6 billion in revenue to Apple in 2020.

In addition to Apple, mobile phone manufacturers such as Huawei, Xiaomi, OPPO, and vivo have also increased their layout. The "China Wearable Device Market Quarterly Tracking Report, Q4 2020" released by IDC data agency recently shows that the shipment volume of China's wearable device market in 2020 is close to 110 million units, a year-on-year increase of 7.5%.

Among them, in 2020, the shipment volume of China's smart Bluetooth headsets (ear-worn devices) market was 50.78 million units, a year-on-year increase of 41%; the shipment volume of the adult watch market was 15.32 million units, a year-on-year increase of 48%. These two types of products have significantly driven the growth of the overall wearable device market and are important drivers for future development.

According to IDC's wearable device shipments in the fourth quarter of 2020, Huawei (6.761 million units), Xiaomi (5.904 million units), Apple (5.803 million units), OPPO (1.388 million units), and BBK (1.218 million units) ranked in the top five respectively. The shipments of these five manufacturers accounted for nearly 70% of the domestic market share.

It is worth mentioning that in addition to major Internet mobile phone manufacturers, some traditional smart product manufacturers have been involved in the wearable device track for a long time. Old audio manufacturers such as Beats, Sony, and Bose occupy a certain market share in the smart headset track.