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The global speaker driver industry is being driven by the increased adoption of digital technology. This is due to the rising disposable incomes and improved living standards of consumers. In addition, the growing demand for improved audio quality while listening to music and watching movies to enhance the user experience is also projected to catalyse the industry growth in the coming years. Moreover, the heightened adoption of smart speakers that are voice operated such as Amazon Echo Dot is also predicted to add to the industry growth.
The growing emphasis of the leading players in the development of efficient and diverse audio solutions is estimated to significantly catalyse the industry growth in the forecast period. For instance, in November 2021, Knowles Corporation (NYSE: KN) announced the availability of the GM series receiver, a new high-performance, two-way balanced armature receiver, designed for hearing health operations under a partnership with Lucid Hearing, a leader in hearing aids. Apart from this, in November 2019, Knowles Corporation (NYSE: KN) announced the expansion of its partnership with GN Store Nord A/S (OTCMKTS: GNNDY) across its intelligent audio solutions to offer innovative and differentiated solutions. Such developments are expected to positively impact the growth of the speaker driver industry in the forecast period.
Market Breakup by Device Type, Driver Type, Driver Size, Application, and Region:
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The major players in the global speaker driver market are Goertek Inc., Sony Corporation, Beyerdynamic GmbH & Co. KG, Meilu Industrial Co., Ltd., Eastech Holding Limited, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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