Global Speaker Driver Market size is projected to grow from USD 25.9 billion in 2020 to USD 29.3 billion by 2025; it is expected to grow at a CAGR 2.5 % (Value) from 2020 to 2025.
Major factors driving the growth of the market include the increasing demand for smartphones owing to the surge in the adoption of audio and video streaming services and the growing popularity of True Wireless earphones. Opportunities for the Speaker Driver market include the increase in the sale of smartphones owing to the expansion of the 5G network; and the release of new headphones and earphones as a result of new advancements in wireless technology standards such as the new Wi-fi 6 and Bluetooth 5.2.
Key Market Players
Key players in the Speaker Driver market include Sennheiser Electronic GmbH & Co. KG (Germany), Samsung Electronics (South Korea), Sony Corporation (Japan), Knowles Electronics (US), Goertek (China).
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The Headphones/Earphones segment is expected to account for the largest size (Value) of the Speaker Driver market from 2020 to 2025
As the demand for wireless and small-sized earphones has increased among fitness enthusiasts, the supply for earbuds has increased, leading to an increase in the demand for speaker drivers. Usage of earphones and headphones for fitness activities under various environmental conditions, such as rain and dust, has influenced manufacturers to add durability to their products with a certain (ingress protection) IPX rating—a safety rating to offer protection against dust and water. For instance, JLAB's (US) Epic Air Sport is integrated with an IP66 rating for dust and water resistance.
The Others application segment of the Speaker Driver market, including banking, travel and tourism, hospitality, and education is projected to grow at the highest CAGR (Volume) during the forecast period
Smart speakers are also used in applications such as banking, travel and tourism, hospitality, and education in the coming years, which is expected to create lucrative opportunities for speaker driver manufacturers.
The Speaker Driver market in APAC is expected to account for the largest size (Volume) of the Speaker Driver market in 2020
APAC is home to several major headphone/earphone, smartphone, smart speaker, loudspeaker, and tablet manufacturers that are focusing on new product launches and developments to cope up with the increasing competition in the market and changing consumer preferences. Some of these players include Samsung Electronics Co., Ltd. (South Korea), Huawei Technologies Co., Ltd (China), Xiaomi(China), Oppo (China), Vivo (China), and Sony Corporation (Japan), Amazon (US), and Google (US). Chinese players (Alibaba, Xiaomi, and Baidu) in the market are competing with the American smart speaker brands such as Google and Amazon.
Speaker Drivers Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact – both negative and positive – of COVID-19 on the speaker drivers industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
This includes revised market numbers according to the effects of the coronavirus and the expected speaker drivers market growth numbers 2021-2030.
View Complete Report:https://www.thebusinessresearchcompany.com/report/speaker-drivers-global-market-report The Speaker Drivers Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global speaker drivers market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The global speaker drivers market is expected to grow from $20.9 billion in 2020 to $22.25 billion in 2021 at a compound annual growth rate (CAGR) of 6.5%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
