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Speaker Driver Market Size, Industry Share and Forecast, 2030

Published on by randy

The global speaker driver market size was worth around USD 27.49 Billion in 2022 and is predicted to grow to around USD 33.42 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 2.47% between 2023 and 2030.

Global Speaker Driver Market: Overview

A device that converts an electrical audio stream into sound waves is called a speaker driver. A loudspeaker is another name for the speaker driver. Speaker drivers have been more in demand as earphone manufacture has surged in response to the notable growth in demand for wireless, small-sized headphones among fitness enthusiasts. The use of earbuds and headphones for exercise in various weather conditions—such as dust and rain—has forced manufacturers to strengthen their products with an IPX rating, which is a security rating that provides protection from dust and water.

Global Speaker Driver Market: Growth Factors

True Wireless Earphones (TWE) and the growing demand for smartphones due to the growing use of video and audio streaming platforms are the main factors driving the growth of the worldwide speaker driver market. The quick advancement of technology is causing a shift in consumer tastes. As people’s disposable income has increased, so has the population’s ability to spend. The general public in developed and developing countries including the US, China, India, France, the UK, and France is spending more money on leisure and recreation. Additionally, the ease with which one can utilize sound technologies in their environment has increased demand for speakers worldwide.

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The market for speaker drivers is expanding due to a number of factors, one of which is the rise in audio streaming. Compared to home theater audio systems, portable and wireless speakers take less room and upkeep and don’t require any wiring. To satisfy the needs of the consumers, these tiny speakers come in an array of sizes and shapes. Additionally, Bluetooth and Wi-Fi connectivity are included in the majority of portable devices, such as laptops, tablets, and smartphones, allowing users to stream audio and video material wirelessly. Furthermore, a growing number of people, including young people, now favor wireless technology over other types. The market for wireless speakers has been positively impacted by their quick functionality and inexpensive maintenance.

Global Speaker Driver Market: Segmentation

Based on device type, driver type, application, size, and geography, the worldwide speaker driver market has been divided into segments. by kind of gadget, including hearing aids, loudspeakers, tablets, smartphones, smart speakers, and headphones. In the near future, the headphones component is probably going to rule the market. The need for smartphones, increasing end-users, and a quickly expanding population are some of the major factors propelling the worldwide speaker driver industry.The market can be divided into planar magnetic, balanced armature, dynamic, electrostatic, and other driver types. It is anticipated that the dynamic driver market will expand rapidly over the projection period. The factors influencing the growth of the industry are the rise in electronic manufacturing firms, the rise in demand for portable speakers, and the acceptance of video streaming gadgets.

The speaker driver market can be divided into professional, consumer, medical, and other segments based on the kind of application. The global market’s revenue is generated by its customers. Some of the factors favorably affecting the global speaker driver market are the use of speakers and other products for fitness-related activities, the rise in demand for smart homes, the media’s and entertainment industry’s widespread presence, and speaker driver establishments’ express launches. The global speaker driver market has been divided into three segments based on size: below 20 mm, 20-110 mm, and others. These are the different market sizes for speaker drivers. The commercial category with the highest growth potential in the near future is 20-110 mm.

Global Speaker Driver Market: Regional Analysis

Over the next few years, North America’s growth is expected to be rapid. It is expected that Asia Pacific would undergo significant development in the future years. The market’s favorable factors include rising R&D costs, an increase in the usage of compact and inexpensive speakers, and a never-ending need for end users. The Asia Pacific speaker driver market will see the rise of important regional sectors dominated by nations like Singapore, Japan, China, India, and Australia.

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