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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Speaker Driver Market Outlook
The global speaker driver market stood at a value of around USD 27.47 billion in 2023. The market is further expected to grow at a CAGR of 2.40% in the forecast period of 2024-2032 to attain a value of USD 34.00 billion by 2032.
Heightened Demand for Headphones to Bolster the Market Growth of the Global Speaker Driver Industry
Based on device type, the headphones segment is predicted to hold a healthy market share in the speaker driver industry. This growth can be attributed to the increased demand for lightweight and cost-effective headphones. These are especially in demand among consumers engaging in physical activities such as jogging and fitness training. Moreover, the increased availability of wireless earphones and headphones, owing to their ease of use and improved connectivity is also estimated to aid the market growth.
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The Asia Pacific to Provide Profitable Growth Opportunities for the Global Speaker Driver Industry Growth
The Asia Pacific is estimated to occupy a significant share of the speaker driver industry in the forecast period. This growth can be attributed to the presence of the leading market players in the region. In addition, the increased demand for loudspeakers and headphones among consumers, especially the millennial and gen Z population, for the purpose of entertainment is also projected to add to the market growth. In addition, the rising disposable incomes and the improved living standards are also expected to contribute to the market growth.
Speaker Driver Market Segmentation
Speaker driver refers to loudspeaker transducer that converts an electrical audio signal into sound waves. These drivers come in different sizes, which move back and forth to create changes in the air pressure, thus, producing sound. Most speakers, these days, tend to come with multiple drivers, which are divided with the help of crossovers.
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By device type, the market is segregated into:
- Headphones
- Hearing Aids
- Smart Speaker
- Mobile Phones/Tablets
- Loudspeakers
On the basis of driver type, the market can be divided into:
- Dynamic Drivers
- Balanced Armature Drivers
- Planar Magnetic
- Electrostatic
- Others
Based on driver size, the industry can be segmented into:
- Below 20 MM
- 20-110 MM
- Others
On the basis of application, the market can be distributed into:
- Consumer
- Professional/Enterprise
- Medical
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rapid Digitalisation to Drive the Global Speaker Driver Industry
The increased demand for digital devices worldwide with the rapid adoption of smartphones and the growing penetration of internet connectivity is projected to propel the market growth in the forecast period. This can be attributed to the growing technological dependence of consumers on advanced gadgets and devices. In addition, the rising disposable incomes and improved living standards are also projected to contribute significantly towards the market growth. Moreover, the rapid adoption of video-on-demand and OTT platforms is projected to catalyse the demand for speaker drivers in the coming years.
Key Industry Players in the Global Speaker Driver Market
The report gives a detailed analysis of the following key players in the global speaker driver market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Goertek Inc.
- Sony Corporation
- Beyerdynamic GmbH & Co. KG
- Meilu Industrial Co., Ltd.
- Eastech Holding Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Device Type |
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| Breakup by Driver Type |
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| Breakup by Driver Size |
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global speaker driver market attained a value of nearly USD 27.47 billion.
The market is projected to grow at a CAGR of 2.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 34.00 billion by 2032.
The major drivers of the industry, such as the increased demand for enhanced sound quality, growing demand for headphones among the fitness enthusiasts, rising disposable incomes, rapid technological advancements, and rising investments to manufacture improved speaker drivers by the leading manufacturers, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the increasing digitalisation.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant device types considered within the market report include headphones, hearing aids, smart speaker, mobile phones/tablets, and loudspeakers.
The major driver types include dynamic drivers, balanced armature drivers, planar magnetic, electrostatic, and others.
The significant driver sizes include below 20 MM, 20-110 MM, and others.
The significant applications include consumer, professional/enterprise, medical, and others.
The major players in the industry are Goertek Inc., Sony Corporation, Beyerdynamic GmbH & Co. KG, Meilu Industrial Co., Ltd., Eastech Holding Limited, and others.
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