The new report by Expert Market Research titled, ‘Global Speaker Driver Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global speaker driver market, assessing the speaker driver 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, along with 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 (2018-2028)
- Historical Market Size (2021): About USD 26.2 billion
- Forecast CAGR (2023-2028): 2.40%
- Forecast Market Size (2027): Nearly USD 30.2 billion
On the basis of device type, the headphones segment is anticipated to account for a significant share of the global market for speaker drivers. This can be ascribed to the increase in demand for headphones in recent years. In addition, recent developments in Bluetooth by established and new market players in the market are further attracting customers, thereby influencing the market positively. Furthermore, the market growth is being led by the increasing adoption of headphones by working professionals owing to the WFH trends.
The continuous demand for headphones by sports professionals is another factor contributing to the growth of the market. Moreover, the increasing penetration of lightweight, durable, and economical headphones is another factor enhancing the growth of the market in the recent years.
Industry Definition and Segmentation
A speaker driver refers to a loudspeaker transducer that converts an electrical audio signal into sound waves. These drivers are available in different sizes and move back and forth to create changes in the air pressure, thereby producing sound. Most speakers generally come with multiple drivers, which are divided with the help of crossovers.
On the basis of device type, the market can be divided into:
- Hearing Aids
- Smart Speaker
- Mobile Phones/Tablets
Based on driver type, the market can be segmented into:
- Dynamic Drivers
- Balanced Armature Drivers
- Planar Magnetic
The market, based on driver size, can be distinguished into:
- Below 20 MM
- 20-110 MM
Based on application, the market can be classified into:
The regional markets for speaker driver include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth in the global market for speaker drivers is being driven by the increasing ownership of consumer electronics like smartphones and laptops. This can be ascribed to the rise in per capita disposable incomes and the subsequent rise in purchasing power of the people.
Further, with the increased prevalence of video-on-demand and OTT platforms, the demand for personal headphones is escalating, thereby boosting the growth of the market. Moreover, the market is witnessing growth in medical applications as well. Additionally, the deployment of speaker drives in hearing aids is positively impacting the market growth.
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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