Global Speaker Driver Market: Overview
The speaker driver is a device which transforms an electrical audio signal into sound waves. The speaker driver can also be termed as a loudspeaker. As there has been a remarkable upsurge in the demand for wireless and small-sized earphones among fitness enthusiasts, the production of earphones has increased, which in turn has led to an increase in demand for speaker drivers. Utilization of headphones and earphones for fitness activities under different environmental conditions, such as dust and rain, has influenced the producers to add sturdiness to their commodities with a certain IPX rating- a security rating to offer safety against water and dust.
Global Speaker Driver Market: Growth Factors
The prime elements steering the growth of the global speaker driver market include the surging demand for smartphones owing to the increase in the adoption of video & audio streaming platforms and the heightening popularity of True Wireless Earphones (TWE). The preferences of customers are changing with rapid technological evolution. Due to an increase in the disposable income of people, the spending capacity of the population has grown. The general population living in developing and developed nations such as the UK, France, the US, China, and India is increasing their expenditure on entertainment and leisure activities. Also, the accessibility to use sound technology in one’s surroundings has driven the demand for speakers across the globe.
One of the many factors steering the growth of the speaker driver market is an increase in streaming of audio content. Portable and wireless speakers require lesser space and maintenance compared with home theater audio systems and they also use no wiring. These pocket-sized speakers are available in many different sizes and designs to meet the requirements of the customers. Moreover, most of the portable electronics like smartphones, tablets, and laptops are equipped with Bluetooth and Wi-Fi connectivity, enabling the users to stream audio/video content wirelessly.
Additionally, there has been a surge in the preference for wireless technology among the youth as well as the general population. The fast functionality and low maintenance costs have positively influenced the demand for wireless speakers. Bluetooth speakers are wireless and most of the standardized models are rechargeable or run on AA batteries.
Global Speaker Driver Market: Segmentation
The global speaker driver market has been segmented on the basis of device type, driver type, application, size, and region. The global speaker driver market is segmented by type of device into headphones, smart speakers, tablets & mobile phones, loudspeakers, and hearing aids. The headphones component is likely to dominate the market in the forthcoming period. Augmenting end-users, demand for smartphones, and rapidly growing population are some of the key drivers fueling the global speaker driver market.
By type of driver, the market can be classified into electrostatic, dynamic drivers, planar magnetic, balanced armature drivers, and others. The dynamic driver segment is expected to grow drastically in the forecast period. Surge in electronic manufacturing brands, increasing demand for portable speakers, and popularity of video streaming devices are the drivers affecting the expansion of the global speaker driver market.
By application, the global market for speaker drivers can be categorized into professional, consumer, medical, and others. Customers are the revenue generators of the global market. The use of speakers and other products for fitness-related activities, increase in demand for smart homes, the widespread presence of the entertainment domain & media, and express launches by speaker driver establishments are some of the elements positively affecting the global speaker driver market.
By type of size, the global speaker driver market has been categorized into below 20 mm, 20-110 mm, and others. These are the various sizes of the speaker driver market. 20-110 mm is the commercial segment anticipated to grow in the upcoming period.
Global Speaker Driver Market: Regional Analysis
North America is projected to register high growth over the forthcoming years. Asia Pacific is anticipated to develop drastically in the upcoming few years. The hike in expenditure toward research and development, growing utilization of compressed & low-priced speakers, an unending demand for end-users are the positive influencers of the market. Countries such as India, Japan, China, Australia, and Singapore will emerge as key regional segments in Asia Pacific speaker driver market.
Global Speaker Driver Market: Competitive Players
Tymphany, AAC Technologies, 1More, Sennheiser Electronic GmbH & Co. KG, Knowles Electronics, Sony Corporation, Sonion, Eastech, Fortune Grand Technology Inc., Ole Wolff, and Samsung Electronics are some of the top vendors influencing the global speaker driver market.
Global Speaker Driver Market: Regional Segment Analysis
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