Speaker Drivers Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

Posted by Amruta Pritam on March 8th, 2024

The Speaker Drivers by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Speaker Drivers, The speaker drivers market size has grown strongly in recent years. It will grow from .35 billion in 2023 to .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 .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..

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 .2 billion in 2020, the Indian e-commerce sector is predicted to expand to US 8 billion by 2025. It is estimated to reach US 0 billion by 2030. The Indian e-commerce sector is expected to grow by 21.5%, reaching US .8 billion by 2022. The ease of purchase offered by e-commerce platforms has driven the speaker drivers market.

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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

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.

The speaker drivers market report table of contents includes:

1. Executive Summary

2. Speaker Drivers Market Characteristics

3. Speaker Drivers Market Trends And Strategies

4. Speaker Drivers Market - Macro Economic Scenario

5. Global Speaker Drivers Market Size and Growth

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32. Global Speaker Drivers Market Competitive Benchmarking

33. Global Speaker Drivers Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Speaker Drivers Market

35. Speaker Drivers Market Future Outlook and Potential Analysis

36. Appendix

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