Speaker Driver Market Size Global Forecast, Growth, Opportunities 2025

 

The speaker driver market is projected to USD 29.3 billion by 2025 from USD 27.1 billion in 2022 at a CAGR of 2.5% during the forecast period. It was observed that the growth rate was 0.6% from 2021 to 2022. Balanced Armature Driver segment is expected to grow at a highest CAGR of 3.76%.

Major factors driving the growth of the market include the increasing demand for smartphones owing to the surge in the adoption of audio and video streaming services and the growing popularity of True Wireless earphones. Opportunities for the market include the increase in the sale of smartphones owing to the expansion of the 5G network; and the release of new headphones and earphones as a result of new advancements in wireless technology standards such as the new Wi-fi 6 and Bluetooth 5.2.

The Headphones/Earphones segment is expected to account for the largest size (Value) of the Speaker Driver market from 2020 to 2025.

Owing to the increasing demand for wireless and small-sized earphones among fitness enthusiasts, the supply for earbuds has increased, leading to an increase in the demand for speaker drivers. As consumers are focusing on product aesthetics and add-on features for earphones, along with a compact size, the true wireless earbud category of earphones has been gaining popularity.

Apple (US) has set this trend with the launch of AirPods in 2016. The other players, such as Oppo and Xiamoi, have also started integrating foray into their headphones. Bass boosting technology, active noise cancellation technology, hand-free calling features along wireless technology are increasing the popularity of true wireless earbuds, thereby presenting an opportunity for the manufacturers of drivers to acquire a larger share of the market.

The Others application segment of the Speaker Driver market including banking, travel and tourism, hospitality, and education is projected to grow at the highest CAGR (Volume) during the forecast period.

The hospitality and travel and tourism application have tremendous potential for the growth of smart speakers in the coming years. In the hospitality application, these can be used for room control lighting, playing audio content, learning about weather and travel updates, ordering room service and housekeeping, calling reception, and checking out.

For instance, the InterContinental Hotels Group (IHG) uses a customized version of Baidu’s DuerOS AI solution that includes voice assistant functionality and its smart speakers at its InterContinental Beijing Sanlitun and InterContinental Guangzhou Exhibition Centre properties, that allows guests to ask for basic information, such as the current travel time to the airport, as well as other types of room service like ordering food.

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The 20–110 mm segment holds the largest size (Volume) of the Speaker Driver market in 2020.

Due to the increasing popularity of audio and video features on social networking apps, including TikTok, Dubsmash, and Funimate, which has increased the demand for smartphones, the 20–110 mm segment holds the largest size (Volume) of the market. For instance, in 2019, Instagram launched the trial of a new feature called Reels.

 

Also, as people begin to confine themselves within their homes and work from home, video conferencing has become increasingly common. Several video conferencing software such as Zoom, Cisco Webex Meetings, and Microsoft teams are being utilized increasingly. Thus, the demand for high quality Speaker Drivers in Smartphones is expected to increase.

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