Speaker Driver Market to Grow Substantially at 2.3% CAGR from 2020 to 2028 | Emergen Research
Speaker Driver Market Size – USD 25.79 Billion in 2020, Market Growth – at a CAGR of 2.3%, Market Trends – Adoption of online audio and video streaming services
VANCOUVER, BC, CANADA, November 8, 2022 /EINPresswire.com/ — The Global Speaker Driver Market size is expected to reach USD 31.18 Billion and register a CAGR of 2.3% during the forecast period, according to latest analysis by Emergen Research. Key market revenue growth driving factors include increasing use of consumer electronics such as televisions, smartphones, smart watches, washing machines, smart televisions etc. In addition, rapid adoption of online audio and video streaming services is another factor driving revenue growth of market. Rising disposable income among consumers, improving standards of living, rapid urbanization, and robust penetration of mobile phones and high-speed and reducing costs of Internet connectivity are some other factors supporting market growth.
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Introduction of airpods has a significant role to play in growth of market. Demand for wireless these products has been increasing due to rising preference for more convenience as these products connect wirelessly via any audio or video device and eliminate the hassles experienced using wired headsets. Technological advancements and introduction of more advanced products such as notch less smartphones is further expected to support market growth going ahead.
Some Key Highlights from the Report
In September 2020, CX 400BT True Wireless was launched by Sennheiser, and delivers high fidelity stereo sound with natural meds and deep bass due to the presence of 7mm dynamic driver.
In May 2020, HD 458BT wireless headphones was launched by Sennheiser with a stylish new design.
Asia Pacific accounted for largest revenue share contribution to the global market in 2020 and the trend is expected to continue over the forecast period. This steady growth can be attributed to presence of key players in countries in the region. China, being the largest producer and consumer of electronics, is a major contributor to revenue growth of the market in the region. Moreover, rising disposable income, increasing penetration of mobile devices, and rapid development of 5G infrastructure in countries such as India, South Korea, China, and Japan is expected to support market growth.
Major companies operating in market are Sennheiser Electronic GmbH & Co. KG, Samsung Electronics, Sony Corporation, Knowles Electronics, Goertek, Beyerdynamic GmbH & Co. KG, Fostex International, Eastech, Voz Electronic Co., Ltd., and Fortune Grand Technology inc.
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For this report, Emergen Research has segmented the global speaker driver market based on device type, size, application, and region.
Device Type Outlook (Revenue, USD Billion; 2018–2028)
Headphones/Earphones
Hearing Aids
Smart Speakers
Mobile Phones/Tablets
Loudspeakers
Size Outlook (Revenue, USD Billion; 2018–2028)
Below 20 mm
20–110 mm
Application Outlook (Revenue, USD Billion; 2018–2028)
Professional/Enterprise
Consumer
Medical
Others (banking, travel and tourism, hospitality, and education)
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Regional Outlook (Revenue, USD Billion; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Taiwan
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Report Highlights:
Besides offering a vivid depiction of the global Speaker Driver business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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