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Shipments of wearable smart bands and true wireless devices (TWS) are projected to increase next year, with the former surpassing 200 million units and the latter 350 million, according to a report from Canalys. Shipments are expected to grow at a rate of 32% by the end of this year. According to the report, the smart accessories market in Asia Pacific and Europe is also expected to be strong apart from that of China and North America.
According to Cynthia Chen, a research analyst at Canalys: “The pandemic will prolong smartphone replacement cycles. However, the ‘lipstick effect’ will lead consumers to spend on smaller, less expensive items during an economic recession to satisfy your shopping pleasures. ”
According to the report, another reason for the speculated growth in the smart wearable sector is the spread of the COVID-19 pandemic. According to the report, people have started paying more attention to their health and fitness during the pandemic. Also, since most people are locked in their homes these days and practicing social distancing, consuming digital entertainment and indulging in physical activities, which may be the reason why the TWS headset market will grow as well. The report states that TWS headphones, particularly from companies like Apple, Samsung, are expected to sell more and their market to grow 39% in 2021 to reach 350 million units. Lesser-known brands that make TWS earphones will also benefit from this and their market is claimed to grow 12% in 2021.
