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Speaker Drivers Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033

04-18-2024 08:48 AM CET | Media & Telecommunications

Press release from: The Business research company

Speaker Drivers Market

Speaker Drivers Market

The speaker drivers market size has grown strongly in recent years. It will grow from $30.35 billion in 2023 to $31.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increasing use of in-wall speaker, increasing consumer spending on entertainment and a rise in disposable income across developing countries..

The speaker drivers market size is expected to see strong growth in the next few years. It will grow to $38.95 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rapid expansion and commercialization of 5g networks, technological advancement, growing population, growth in e-commerce for consumer electronics, increasing penetration of wi-fi enabled loudspeakers and development of smart cities . Major trends in the forecast period include focus on wireless speaker drivers, focus on integrating artificial intelligence (ai), focus on 3d sensing modules in speaker drivers, focus on 360-degree audio and focus on products from eco-friendly materials..

Market Overview -
A speaker driver is a device that converts an electrical audio signal to sound waves. It turns the voltage provided to it into movement, which leads to the creation of a sound wave.

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Rising Consumer Electronics Demand Drives Growth In E-Commerce And Speaker Drivers Market
Changes in consumer lifestyles and shopping patterns have fueled the growth of e-commerce for consumer electronics. Consumer devices such as cell phones and laptops are becoming more popular. This can be attributed to rising per capita disposable incomes and, as a result, rising people's purchasing power. Furthermore, as video-on-demand and over-the-top (OTT) platforms become more common, demand for personal headphones is increasing, helping the market's growth. Consumers desire a portable speaker device that can be used in a variety of settings, from the comfort of their homes to the unpredictability of outside circumstances, which has resulted in a demand for sturdy, dustproof, and waterproof portable speakers. For instance, in India, e-commerce has changed the way people do business. From US $46.2 billion in 2020, the Indian e-commerce sector is predicted to expand to US $198 billion by 2025. It is estimated to reach US $350 billion by 2030. The Indian e-commerce sector is expected to grow by 21.5%, reaching US $74.8 billion by 2022. The ease of purchase offered by e-commerce platforms has driven the speaker drivers market.

Competitive Landscape -
Major companies operating in the speaker drivers market report are Samsung Electronics Co. Ltd., Sony Corporation, Goertek, Merry Electronics Co. Ltd., Knowles Electronics, Bose, Concraft Holding Co. Ltd., Eastech Holding Limited, Foster Electric Company Limited, Fortune Grand Technology Inc., Noise, BoAt, pTron, Hammer, Ambrane, Clarion, Yamaha, Onkyo, Pioneer Technical Audio Devices, Sansui, Denon, Sharp, TOA Corporation, Osborn Loudspeakers, Karri Acoustic, VAF Research, Whatmough, Lenehan Audio, Redgum Audio, Duntech, LG Electronics Inc., Jinyoung G&T, Pantos Logistics Co. Ltd. (Plihq), Bum Jin C & L Co. Ltd., Euroline Co. Ltd., J P Products Co. Ltd., Imoss Corporation, Edifer, Guangzhou Hongxiang Audio Equipment Co., ZHIYA Audio Equipment Co.Ltd, Sanway Audio Equipment, Enping Macadn Electronic Technology Co Ltd, Tannoy, ATC, Bowers & Wilkins (B&W), Mission, Wharfedale, KEF, PMC, Fyne Audio, Q Acoustics, Zound Industries, Sennheiser, ELAC, Focal, Dynaudio, Sonos Inc., Blaupunkt GMBH, Koninklijke Philips N.V., Alphabet Inc., Amazon Inc., Aris Audio, Reezoldini, KV2 Audio, Xavian, Pylon Audio, Megalith Audio, ZR Speaker Lab, Altec Lansing, Harman International Industries Inc, Apple Inc, DEI Holdings Inc, JBL, Klipsch, Definitive Technology, Quested, QSC, Eros Alto Falantes Ltda, Hisense, TCL, Leap Technologies FZC, SMARTECH AV, VOXX, Sound United, JVC, Logitech, Audioholics, SPL Audio, PQ Sound, Morel HiFi, McRael Sound Technology, Temple's Counsel, Jay Sounds, Eminence Speaker, KCS Speakers, Al Watania, EVGA Corporation, Elitegroup Computer Systems, Aztech Group Ltd., Micro-Star INT'L Co. Ltd.

Soaring Popularity Of Wireless Audio Equipment Drives The Speaker Drivers Market
The rising popularity of wireless audio equipment is an emerging trend in the speaker drivers market. Due to technological advancements, speaker drivers are now enabled with Bluetooth or Wi-Fi and thus can play audio without any wires connected to them. Consumers' consumption behavior is also changing and a majority of consumers are shifting towards wireless audio equipment due to its convenience. Key players in the market such as Samsung, LG, Sony, Bose, Denon, DTS, and Qualcomm are introducing different types of wireless speaker drivers in the market. For instance, Sonos Wi-Fi speakers, Bose's SoundTouch system and Amazon's Echo speakers are common Wi-Fi audio equipment.

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Key Segments -
The speaker drivers market covered in this report is segmented -
1) By Device Type: Headphones/Earphones, Hearing Aids, Smart Speakers, Mobile Phones, Tablets, Laptop And Others, Other Speaker Types
2) By Driver Type: Dynamic Drivers, Balanced Armature Drivers, Planar Magnetic, Electrostatic, Other Driver Types
3) By Application: Consumer, Professional/Enterprise, Medical, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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