Canalys expects the Global smart accessories market to reach over half a billion units in 2021
By MYBRANDBOOK
It is expected that the shipments of smartphone accessories, namely wearable bands and TWS devices, will exceed 200 million units and 350 million units respectively in 2021, as per the Canalys forecast. As the COVID-19 pandemic deepened globally, consumers turned their attention to smart wearable and smart hearable accessories. Canalys research shows that compared to smartphones, wearable bands and TWS earbud categories will be more resilient against the pandemic, with shipments projected to grow at a healthy rate of 32% in 2020. In addition to Greater China and North America, smart accessory growth in the Asia-Pacific and European regions is expected to be strong.
Wearable bands and TWS earbuds are some of the few strategic winners of 2020. "The pandemic will prolong replacement cycles for smartphones. However, the 'lipstick effect' will drive consumers to spend on smaller, less costly items during an economic downturn to meet their buying pleasures," said Canalys Research Analyst Cynthia Chen. "Consumers' attention to health and wellness has increased significantly during the pandemic, which is a great opportunity for wearable devices, such as those from Xiaomi, Garmin, Fitbit and Huami etc. Engagement in indoor activities such as remote learning, working from home and home entertainment, as well as outdoor sports and recreation also continued to rise. This ushers in greater than expected growth, particularly for TWS headphones, such as those from Apple, Samsung, Jlab and QCY etc." TWS earbuds are expected to grow 39% in 2021 to reach over 350 million units, much more robust than wearable bands, which are expected to grow at 12% in the same year.
Chinese smartphone vendors are also looking outwards to growth opportunities in overseas markets in the wearable band and TWS headphone categories. "Despite the likelihood of needing more time to recover from the pandemic, Southeast Asia nations are attractive due to its large population base and proximity to China. Some Chinese players that already have well-established channels are leveraging cross-border e-commerce platforms to reach users and shipping devices directly from China or Hong Kong," added Chen. "Chinese players are well poised to offer more choices, especially with affordable and appealing devices that resonate well with local users. They are expected to play a big part in pushing the overall APAC region to surpass North America to become the second-largest region for wearable bands and TWS headphones in 2024."
Vendors still need to be on high alert to the possibility of subsequent waves of infection affecting their IoT expansion plans. "While users are expected to tighten their spending, they continue to demand devices to do even more and provide an excellent user experience. The challenge here is to bring incremental upgrades to ever more affordable devices while ensuring seamless integration that must translate to valuable features to help users in areas such as wellness and smartphone entertainment," added Chen.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
ICONS OF INDIA : RITESH AGARWAL
Ritesh Agarwal is an Indian billionaire entrepreneur and the founder a...
ICONS OF INDIA : S KRISHNAN
S Krishnan as the secretary for the electronics and information techno...
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...