The new report by Expert Market Research titled, ‘Global Speaker Driver Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global speaker driver market, assessing the market based on its segments like device types, driver types, driver sizes, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): Approximately USD 26.2 Billion
- Forecast CAGR (2022-2027): 40%
- Forecast Market Size (2027): About USD 30.2 Billion
The speaker driver industry is being driven by the growing adoption of digital devices among consumers and the increasing penetration of internet facilities. This can be attributed to the rising disposable incomes, rapid urbanisation and improved living standards. In addition, the rapid adoption of OTT and video-on-demand services are leading consumers to invest in quality sound outlets such as efficient loudspeakers and noise-cancelling headphones, which is estimated to add to the market growth of speaker driver. With the surging health and fitness consciousness, the demand for cost-effective, wireless, and lightweight headphones for activities such as jogging and physical training is growing. This, in turn, is estimated to augment the industry growth in the forecast period.
Industry Definition and Major Segments
Speaker drivers are loudspeaker transducers that convert an electrical audio signal into sound waves. They are typically made using paper, plastic and metal and come in various sizes, based on the frequencies they can handle. Loudspeakers, mobile phones, and headphones, among others, come with different speaker drivers to help produce varied ranges of sound.
The market, on the basis of device type, can be divided into:
- Headphones
- Hearing Aids
- Smart Speaker
- Mobile Phones/Tablets
- Loudspeakers
Based on driver type, the industry can be segregated into:
- Dynamic Drivers
- Balanced Armature Drivers
- Planar Magnetic
- Electrostatic
- Others
By driver size, the market can be categorised into:
- Below 20 MM
- 20-110 MM
- Others
Based on application, the industry can be segmented into:
- Consumer
- Professional/Enterprise
- Medical
- Others
The regional markets for speaker driver include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
The global market for speaker driver is being driven by the rising demand for efficient audio solutions with improved sound quality. This can be associated with the growing millennial and gen Z population, who are increasingly investing in quality headphones and earphones for activities such as gaming and music listening. In addition, the increased demand for wireless earphones among fitness enthusiasts are also adding to the market growth. Moreover, rapid technological advancements such as the development of smart speakers with voice controls and enhanced compatibility with other smart devices are also attracting consumers. The factors are anticipated to augment the market growth in the coming years.
Key Market Players
The major players in the market are Goertek Inc., Sony Corporation, Beyerdynamic GmbH & Co. KG, Meilu Industrial Co., Ltd., and Eastech Holding Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
