Dublin, July 05, 2023 (GLOBE NEWSWIRE) -- The "Speaker Drivers Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global speaker drivers market has witnessed steady growth, with revenues increasing from $28.23 billion in 2022 to $29.22 billion in 2023, representing a compound annual growth rate (CAGR) of 3.5%. According to a new market research report, the speaker drivers market is projected to reach $34.57 billion by 2027, growing at a CAGR of 4.3% during the forecast period.
The report provides valuable insights for strategists, marketers, and senior management to assess the market landscape and make informed decisions. Key market players driving this growth include Sony Corporation, Samsung Electronics, BOSE, JBL, and Sennheiser Electronic GmbH & Co. KG.
Reasons to Purchase:
- Gain a truly global perspective with comprehensive coverage of 50+ geographies.
- Understand the market's response to the COVID-19 pandemic as the impact of the virus abates.
- Assess the impact of the Russia-Ukraine war on agriculture, energy, mineral commodity supply, and its indirect effects on the market.
- Measure the influence of high global inflation on market growth.
- Create effective regional and country strategies based on local data and analysis.
- Identify growth segments for investment and capitalize on emerging opportunities.
- Stay ahead of competitors using forecast data and insights into the drivers and trends shaping the market.
- Understand customer preferences and market shares to enhance decision-making.
- Benchmark performance against key competitors.
- Support internal and external presentations with reliable, high-quality data and analysis.
The speaker drivers market comprises the sales of woofers, tweeters, and other speaker drivers. The market value reflects the goods sold by manufacturers or creators to other entities or end customers, including related services.
A speaker driver is a device that converts electrical audio signals into sound waves, facilitating the creation of sound through movement resulting from voltage input.
Market Segmentation:
- By Device Type: Headphones/Earphones, Hearing Aids, Smart Speakers, Mobile Phones/Tablets, Loudspeakers.
- By Driver Type: Dynamic Drivers, Balanced Armature Drivers, Planar Magnetic, Electrostatic, Others.
- By Application: Consumer, Professional/Enterprise, Medical, Others.
Key Trends and Insights:
- The Asia-Pacific region accounted for the largest market share in 2022, driven by increasing demand for audio and video streaming services and rapid internet penetration. The rising popularity of wireless audio equipment is also an emerging trend in the market.
- The volatility of raw material prices, such as copper, aluminum, and steel, is expected to pose a challenge to market growth. Fluctuating prices significantly impact manufacturing costs, leading to increased expenses for manufacturers.
- Notable players in the market, including Samsung, LG, Sony, Bose, Denon, DTS, and Qualcomm, are introducing various types of wireless speaker drivers to cater to the growing demand for wireless audio equipment.
- In April 2022, Sonos, a US-based company specializing in wireless home sound systems, acquired Mayht Holding BV for $100 million, aiming to strengthen its product portfolio in speaker drivers.
The speaker drivers market report covers Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $29.22 billion |
| Forecasted Market Value (USD) by 2027 | $34.57 billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/dxg58l
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