Affordable Wireless Earbuds Lead The Smart Audio Market With 10% Growth This Year

According to the latest Canalys report, the global smart audio market achieved notable growth in the second quarter of 2024, with total shipments reaching an all-time high for Q2. The industry witnessed a 10.6% year-on-year growth, resulting in an impressive 106 million units shipped between April and June.

The report separates smart audio devices into two main categories. The first includes wireless headphones and earphones that maintain a physical wire connecting the two earpieces. The second category comprises true wireless earbuds, which operate without connecting wires between the speakers, allowing each side to function independently.

This growth was primarily driven by open-ear wireless and True Wireless Stereo (TWS) earphones, particularly those priced under $50 dominated the market, accounting for over half of all sales during this period.

In market leadership, Apple, including its Beats subsidiary, maintained its top position with 18 million units shipped, capturing a 17.1% market share. Samsung, along with its Harman subsidiaries, secured the second spot, delivering 8.1 million units and claiming 7.6% of the market.

Interestingly, Indian brand Boat Audio emerged as a strong contender, rounding out the top three with 6.7 million shipments and an estimated 6.3% share of the global market.

Xiaomi has secured a strong fourth position, shipping an impressive 5.2 million units and capturing nearly 5% of the market share. It stands as the only brand among the top five to achieve positive annual growth, boasting a substantial 40% increase year-over-year. Following closely behind, Sony rounds out the top five with 4 million units shipped, commanding a 3.7% share of the global market.

Source: Canalys