Elettronica
Speaker Driver Market worth $29.3 billion by 2025 - Exclusive Report by MarketsandMarkets™
As the demand for wireless and small-sized earphones has increased among fitness enthusiasts, the supply for earbuds has increased, leading to an increase in the demand for speaker drivers. Usage of earphones and headphones for fitness activities under various environmental conditions, such as rain and dust, has influenced manufacturers to add durability to their products with a certain (ingress protection) IPX rating—a safety rating to offer protection against dust and water. For instance, JLAB's (US) Epic Air Sport is integrated with an IP66 rating for dust and water resistance.
Smart speakers are also used in applications such as banking, travel and tourism, hospitality, and education in the coming years, which is expected to create lucrative opportunities for speaker driver manufacturers.
For example, by 2018, the US Bank allowed customers to check balances, pay bills and, in the near future, send money just with the help of voice commands. Similarly, Capital One lets owners of Amazon's Echo smart speaker system pay their bills and get other account information through voice commands. With some North American Banks already using smart speakers, there is an expectation for many more banks across the globe to begin collaborating with smart speaker companies, thus leading to an increase in the demand for speaker drivers.
Speaker Driver Market
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APAC is home to several major headphone/earphone, smartphone, smart speaker, loudspeaker, and tablet manufacturers that are focusing on new product launches and developments to cope up with the increasing competition in the market and changing consumer preferences. Some of these players include Samsung Electronics Co., Ltd. ( South Korea ), Huawei Technologies Co., Ltd (China), Xiaomi(China), Oppo (China),
Vivo (China) , and Sony Corporation ( Japan ), Amazon (US), and Google (US). Chinese players (Alibaba, Xiaomi, and Baidu) in the market are competing with the American smart speaker brands such as Google and Amazon. For instance, in May 2020 , Alibaba Group Holding Ltd has made an investment of
10 billion yuan ( USD 1.41 billion ) in an AI (artificial intelligence) and IoT (Internet of Things) system centered around its Tmall Genie smart speaker. This is part of its plan to continue its push into new technologies and business sectors beyond online shopping. As a result of this investment, it is expected to release several new and upgraded models during the forecast period, thus leading to an increase in the demand for speaker drivers.
Key players in the Speaker Driver market include Sennheiser Electronic GmbH & Co. KG ( Germany ), Samsung Electronics ( South Korea ), Sony Corporation ( Japan ), Knowles Electronics (US), Goertek (China).
Smart Speaker Market with COVID-19 Impact Analysis by IVA (Alexa, Google Assistant, Siri, DuerOS, Ali Genie), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone) and Software), Application, and Region - Global Forecast to 2025
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