A speaker driver is a transducer that converts an electrical audio signal to sound waves. It is a loudspeaker with output in the form of sound.
The speaker driver market is segmented based on device type, driver type, size, application, and region.
Surge in adoption of audio and video streaming services and growing popularity of true wireless earphones are the major driving factors of the global speaker driver market.
By device type, the headphones/earphones segment is projected to be the fastest growing segment of the global speaker driver market during the forecast period.
Increasing demand for wireless and small-sized earphones among fitness enthusiasts and the rising demand for earbuds propels the growth of the global speaker driver market.
Moreover, newly launched bass boosting technology, active noise cancellation technology, and hands-free calling features along with wireless technology is likely to increase the popularity of true wireless earbuds, thus boosting the demand for headphones/earphones in the speaker driver market during the forecast period.
By size, the 20–110 mm segment of the market is expected to expand at a substantial rate during the forecast period due to the rising popularity of audio and video features on social networking.
In September 2020, Sennheiser Electronic GmbH & Co. KG launched the CX 400BT true wireless 7mm dynamic drivers which are made to deliver high-fidelity stereo sound with deep bass, natural mids, and clear, detailed treble.
Some of the restraints of the speaker driver market are harmful effects on the health of listeners because it produces loud levels of sound very close to the ear
Asia Pacific to Lead the Speaker Driver Market
In terms of region, the global speaker driver market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific is expected to witness fastest growth in the speaker driver market during the forecast period due to increasing demand from countries such as Japan, China, South Korea, Taiwan, and India.
Growing demand for smartphones, increasing preference for high-quality audio experience via headphones/earphones, and many technological advancements in speaker drivers propels the growth of the speaker driver market in Asia Pacific.
Moreover, leading headphone/earphone, mobile phone, and tablet manufacturers such as Samsung Electronics Co., Ltd., Sony Corporation, Xiaomi Corporation, Oppo, Vivo, Oneplus, and Realme operate in APAC, fueling the growth of the speaker driver market.
The speaker driver market in Europe and North America is expected to expand at a substantial rate during the forecast period due to several product launches and developments by several manufactures. On the other hand, the market in Middle East & Africa, and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Speaker Driver Market
The global speaker driver market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancements and expansion to meet the rising demand for speaker drivers. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative products.
Key players operating in the global speaker driver market include:
