The worldwide smart personal audio market rose 6 percent to over 90 million units in the first quarter of 2024, according to the latest Canalys estimates.
True Wireless Stereo (TWS) market rose 8 percent. Wireless headphones market grew 12 percent.
Canalys Research Analyst Jack Leathem said: “The TWS market has plateaued as consumer familiarity grows, leading vendors to rely more on pricing strategies for growth.”
Xiaomi has increased its market share by entering the mid-to-low-end segment with products priced as low as US$15, surpassing Samsung to become the second-largest player, with growth of 61 percent.
Huawei launched its first sub-US$30 product and expanded its presence in overseas markets, achieving 71 percent growth.
Samsung has maintained its competitiveness by integrating high-end Active Noise Cancelling (ANC) features into entry-level products.
With the TWS market saturation, vendors are turning to the emerging Open Wearable Stereo (OWS) market for new opportunities.
“While affordable products may attract early consumer interest, poor user experiences will lead to negative perceptions, affecting broader acceptance of the category,” said Canalys Research Analyst Claire Qin. “The OWS market is a game-changer. For players to succeed, they must focus on earning genuine consumer trust and fostering deep brand loyalty.”
TWS market
In the saturated TWS market, wireless headphones have become a focus for vendors seeking growth. Sony leads with significant gains in flagship and entry-level products, growing its market share by 17 percent.
Samsung and Apple have strategically leveraged the JBL (Harman) and Beats brands to enhance exposure and engage collaborators to strengthen consumer connections, securing their top positions.
Emerging players are making bold moves into the global market with feature-rich wireless headphones priced around US$60, offering a range of options that rival TWS in sound quality and dual-device connectivity.
Canalys Research Manager Cynthia Chen said: “Companies that master product quality and market segmentation will lead the charge, transforming the smart personal audio landscape into a vibrant and dynamic space.”
