Overview: In Q4 2024, the global TWS market grew 6% YoY. For the full year of 2024, the market grew 7% YoY, demonstrating steady expansion driven by enhanced convenience, lower prices and new features related to healthcare. We expect the market to keep growing till 2030 mainly due to cost-effective products under $25 absorbing new demand, especially in emerging economies. Apple’s strategy to expand its portfolio with an affordable AirPods 4 model, which has no ANC, has led noticeable growth in Q4 2024. The AirPods 4 without ANC has the same improved H2 chip as the AirPods 4 with ANC. This ensures minimal audio quality difference, effectively capturing demand from students and emerging markets. The ANC model also differentiates itself through wireless charging, while the Pro model, positioned as a premium offering, boasts superior audio quality, ANC performance and health-tracking functionalities.
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