Speaker Drivers Global Market Report 2021: COVID-19 Growth And Change

Speaker Driver Global Market Report 2021: COVID-19 Growth And Change from Publisher provides the strategists, marketers and senior management with the critical information they need to assess the global speaker driver market.

This report focuses on speaker driver market which is experiencing strong growth. The report gives a guide to the speaker driver market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

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Description:
Where is the largest and fastest growing market for the speaker driver- How does the market relate to the overall economy, demography and other similar markets- What forces will shape the market going forward- The Speaker Driver market global report from Publisher answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider speaker driver market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The speaker driver market section of the report gives context. It compares the speaker driver market with other segments of the speaker driver market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, speaker driver indicators comparison.

Scope

Markets Covered: 1) By Device Type: Headphones/Earphones; Hearing Aids; Smart Speakers; Mobile Phones/Tablets; Loudspeakers
2) By Driver Type: Dynamic Drivers; Balanced Armature Drivers; Planar Magnetic; ElectroStatic; Others
3) By Application: Consumer; Professional/Enterprise; Medical; Others

Companies Mentioned: Sony Corporation; Samsung Electronics; BOSE; JBL; Sennheiser Electronic GmbH & Co. KG

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.


Major players in the speaker drivers market are Sony Corporation, Samsung Electronics, BOSE, JBL, and Sennheiser Electronic GmbH & Co. KG.

The global speaker drivers market is expected to grow from $20.9 billion in 2020 to $22.25 billion in 2021 at a compound annual growth rate (CAGR) of 6.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $29.29 billion in 2025 at a CAGR of 7.1%.

The speaker drivers market consists of sales of speaker drivers by entities (organizations, sole traders and partnerships) that manufacture speaker drivers such as woofers and tweeters. A speaker driver is a device that converts an electrical audio signal to sound waves.

The speaker drivers market covered in the report is segmented by device type into headphones/earphones, hearing aids, smart speakers, mobile phones/tablets, loudspeakers; by driver type into dynamic drivers, balanced armature drivers, planar magnetic, electrostatic, others and by application into consumer, professional/enterprise, medical, others.

The Asia Pacific was the largest region in the speaker drivers market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising price of raw materials is expected to limit the growth of the speaker drivers market. The volatility of prices in raw materials such as copper, aluminum and steel is expected to have a significant impact on the manufacturing cost of speaker drivers increasing the expenses of manufacturers. For instance, in the late 2020s, the Indian manufacturers of steel have increased steel prices due to rising iron ore prices and strong demand for steel. In December 2020, the steel companies were charging around $34 to $37 (?2,500 to ?2,700) a ton of both flat and long products. Therefore, such fluctuations in raw material price affect the manufacturing cost of speaker drivers and this factor is expected to restrain the market growth of speaker drivers.

In January 2019, Sound Vision Technologies, the parent company of TruAudio and VSSL, a US-based global manufacturer of architectural, outdoor, commercial speakers and native streaming audio system amplifiers, acquired Current Audio for an undisclosed amount. Through this acquisition, Sound Vision Technologies plans to increase its logistics locations to cover West and East Coasts, expand its brand's customer service, and enhance and support Current Audio's growing distribution channel. Current Audio manufactures amplifiers, streaming amplifiers, soundbars, architectural speakers, control keypads and subwoofers.

The speaker drivers market was supported by the increased demand for audio and video streaming services globally. This was mainly due to rapid growth in internet penetration and rising popularity among people. According to Statista, the number of Netflix (OTT Service) subscribers increased to 195.15 million by the third quarter of 2020. Also, according to a year-end report by the Recording Industry Association of America (RIAA), streaming services grew nearly 20% in 2019 to $8.8 billion, accounting for 79.5% of all recorded music revenues. The rise in the popularity of audio and video streaming services supported the demand for speaker drivers market.

The rising popularity of wireless audio equipment is an emerging trend in the speaker drivers market. Due to technological advancements, speaker drivers are now enabled with Bluetooth or Wi-Fi, thus can play audio without any wires connected to it. Consumers' consumption behavior is also changing and a majority of the consumers are shifting towards wireless audio equipment due to its convenience. Key players in the market such as Samsung, LG, Sony, Bose, Denon, DTS, and Qualcomm are introducing different types of wireless speaker drivers in the market. For instance, Sonos Wi-Fi speakers, Bose's SoundTouch system and Amazon's Echo speakers are common Wi-Fi audio equipment.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.