Mobile Phone Loudspeaker Market is Anticipated to reach USD 2.08 billion, grow at a CAGR of 6.32 % from 2023 to 2032
Research Reports
Aug 22, 2023
Mobile Phone Loudspeaker Market Insights:
The global mobile phone loudspeaker market is witnessing rapid revenue growth. The market rise is attributed to technological advances in displays and smartphones. Besides, substantial R&D investments made into the development of displays and connectivity solutions drive the growth of the market. The increasing adoption of advanced audio technologies boosts the market size.
Moreover, the rising number of smartphone users escalates the market value. Market Research Future (MRFR) asserts that the global mobile phone loudspeaker market is poised to reach USD 1679 million by 2027, growing at a 6.32% CAGR during the forecasted period (2020-2027). Over the past few years, mobile devices and speakers have seen many significant innovations.
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Key Players:
- BeStar Electronics Co. Ltd (China)
- Gettop Acoustic Co. Ltd. (China)
- BSE Co. Ltd (South Korea)
- CUI Inc. (US)
- Fortune Grand Technology Inc. (Taiwan)
- Dain Inc. (China)
- Regal Electronics Inc. (US)
- Changzhou Su Yang Electronics Co. Ltd. (China)
- EM-Tech.CO. LTD (South Korea),
are the notable vendors in the Mobile Phone Loudspeaker market.
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Mobile Phone Loudspeaker Market Regional Analysis:
The Asia Pacific region dominates the global mobile phone loudspeaker market. The region has long been attracting foreign investors with its raw material advantage and the availability of cost-competitive workforces. Besides, the increasing number of mobile phone users and vast smartphone industries in the region boost the market size. With the presence of a large number of mobile phone manufacturers, China, Japan, and India hold sizable shares in the regional market.
North America gains the second spot globally in terms of mobile phone loudspeaker market revenues. Vast advances in display technologies and the proliferation of smartphones in the region primarily drive the market. Moreover, the augmented demand and increased adoption of stereo systems in mobile phones in this region drive the growth of the market.
Europe is another promising market for mobile phone loudspeakers, witnessing a rapid expansion stage. Factors such as the growing adoption of mobile phones and advancements in mobile manufacturing stimulate market growth in the region. The European mobile phone loudspeaker market is expected to witness fabulous growth during the review period.
Mobile Phone Loudspeaker Market Segmentation:
The mobile phone loudspeaker market is segmented into products, types, sound output, and regions. The product segment is sub-segmented into mono and stereo. The type segment is sub-segmented into electric, piezoelectric, electromagnetic, and plasma speakers. The sound output segment is sub-segmented into less than 80 dB, 80–90 dB, and more than 90 dB. The region segment is bifurcated into the Americas, Europe, APAC, and Rest-of-the-World.
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As technologies mature, they influence market trends and market opportunities. Additionally, increasing advancements made in mobile manufacturing influence market revenue. Furthermore, the increasing trend of live streaming and OTT content watching positively impact the mobile phone loudspeaker market growth.
Increasing stereo systems adoption in mobile phones and various smartphone brands creates significant market opportunities. Technological advancements and innovations in loudspeakers of smartphones, alongside the increasing adoption of smartphones and stereo loudspeaker systems, increase the market size.
However, the growing popularity of video calls and video game streaming is the key driving force behind the market growth. Furthermore, advancement in the field of comprehensive loudspeakers, alongside the development of monotype and stereotype loudspeaker systems, pushes the market revenues.
Conversely, growing spying on phone calls via speaker vibrations captured by an accelerometer is a major factor impeding the market growth. As mobile phone manufacturers are improving speakers in their devices, malicious actors are increasingly leveraging a particular side channel for eavesdropping on a targeted user’s conversations. Nevertheless, the augmenting demand for high-quality audio technology would support the market growth throughout the assessment period.
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