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Global Microelectromechanical (MEM) Systems Speaker Market Overview Covering Forecast Market Size And Growth Rate 2033
Microelectromechanical (MEM) Systems Speaker Global Market Report 2024
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According to The Business Research Company's, The microelectromechanical (MEM) systems speaker market size has grown strongly in recent years. It will grow from $4.82 billion in 2023 to $5.24 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to the increasing functionality of consumer electronics, the expanding adoption of voice-enabled smart devices, the growing use of microphones in automotive applications, the increasing need for audio components, and their increasing adoption in various electronic devices.
The microelectromechanical (MEM) systems speaker market size is expected to see strong growth in the next few years. It will grow to $7.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing demand for compact and energy-efficient audio solutions, an increasing need for audio components, rising demand for voice-enabled devices, increasing smartphone penetration, and the increasing popularity of mobile phones, tablets, laptops, and other audio devices. Major trends in the forecast period include technological advancement, technology to deliver innovation, integration into slim and portable devices, integration of advanced audio systems, integration into various consumer electronic devices, and integration into wearable devices.
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Market Drivers and Trends:
The growing demand for personal audio devices is expected to propel the growth of the microelectromechanical (MEM) systems speaker market going forward. Personal audio devices typically refer to portable gadgets designed for individual listening to audio content, such as music, podcasts, audiobooks, or other forms of sound media. The growing demand for personal audio devices is fueled by increased mobile usage, rising interest in immersive audio experiences, and the convenience of wireless connectivity, reflecting a shift towards personalized entertainment and on-the-go lifestyles. MEMS speakers are used in personal audio devices such as smartphones, earbuds, and hearing aids to provide high-quality, compact, energy-efficient sound. For instance, in December 2021, according to ComScore, a US-based media company, 48% of internet users owned at least one smart speaker, which is 11% higher than the 37% of users who owned one in 2020. Therefore, the growing demand for personal audio devices is driving the growth of the microelectromechanical (MEM) systems speaker market.
Major companies operating in the microelectromechanical (MEM) systems speaker market are focusing on developing technologically advanced products, such as integrated audio modules for over-the-counter hearing aids, to meet the growing demand for compact audio solutions in various electronic devices. Integrated audio modules for over-the-counter hearing aids are compact systems combining MEMS speakers and electronics, offering improved sound quality and accessibility without requiring a prescription. For instance, in March 2023, USound GmbH, a German-based innovative company, introduced Kore 4.0, a state-of-the-art integrated audio module that combines the innovative Tarvos ultra-low power audio amplifier and the latest Conamara MEMS drivers. It delivers superior audio performance and low power consumption in a compact form factor, making it perfect for wearables and over-the-counter (OTC) hearing aids. This advanced module, featuring USound's patented technology, integrates seamlessly with any Bluetooth System-on-a-Chip (SoC) and can be customized for medium- to high-volume production. Its design also supports further miniaturization, allowing additional space for sensors and components.
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Major Key Players of the Market:
Infineon Technologies AG, TDK Corporation, STMicroelectronics N.V., NXP Semiconductors N.V., AAC Technologies Holdings Inc., Cirrus Logic Inc., Soitec SA, Sonion A/S, Knowles Corporation, Silicon Sensing Systems Ltd., Micralyne Inc, COMSOL AB, Silex Microsystems AB, Bosch Sensortec GmbH, Hosiden Corporation, Piezotech LLC, Sonitron NV, Vesper Technologies, Inc., Arioso Systems GmbH, Usound GmbH, xMEMS Labs Inc., GraphAudio Inc., SonicEdge Technologies, New Scale Technologies Inc., AudioPixels Ltd
Microelectromechanical (MEM) Systems Speaker Market 2024 Key Insights:
• The microelectromechanical (MEM) systems speaker market size is expected to see strong growth in the next few years. It will grow to $7.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
• Growing Demand For Personal Audio Devices Drives Growth Of MEMS Speaker Market
• Advancements In Integrated Audio Modules For Over-The-Counter Hearing Aids
• North America was the largest region in the microelectromechanical (MEM) systems speaker market in 2023
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