LONDON, June 21, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company's research report on the speaker drivers market, the integration of artificial intelligence and smart speakers into speaker drivers is gaining popularity among speaker driver market trends. Artificial intelligence (AI) integrated chipsets that are being used for smart types of speakers offer voice control, audio quality, and enhanced battery life. The advantage of artificial intelligence (AI) is that the speaker gets additional capabilities over time as the AI assistant learns new skills. As it learns through experience, the more it is used, the smarter it becomes. We can build a home theater setup using large speakers and soundbars, or connect to a home media server. The LG XBoom AI ThinQ WK7 is a voice-controlled, AI-powered speaker with Meridian sound and Google Assistant built-in. It does not necessitate the use of batteries. It uses Bluetooth technology and can link to other Chromecast or Chromecast audio devices, soundbars, and wireless speakers that have built-in Chromecast.
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The global speaker drivers market size is expected to grow from $22.35 billion in 2021 to $23.75 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The growth in the market 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 speaker driver market share is expected to reach $31.10 billion in 2026 at a CAGR of 7%.
The demand for Wi-Fi enabled loudspeakers is likely to rise as the number of Wi-Fi connected devices such as smartphones, laptops, and tablets grows. Wi-Fi, Near-Field Connectivity (NFC), and Bluetooth are examples of wireless technologies that require little wiring and take up less space. Most portable gadgets, such as cellphones, MP3 players, laptops, and tablets, can connect to most loudspeakers on the market. It's also ideal for multiroom audio, allowing you to stream music from many speakers across your home through your Wi-Fi network, all controlled by a single phone app. For example, Apple is working on a range of wireless Artificial Intelligence speakers that will work with "Apple HomeKit." Apple HomeKit is intended to offer a centralized voice-assistance platform for controlling home kit devices. The growth of smart electronics with interconnected technology is anticipated to fuel demand over the forecast period.
Major players in the speaker driver market are Sony Corporation, Samsung Electronics, BOSE, JBL, Sennheiser Electronic GmbH & Co. KG, Knowles Electronics, Goertek, Beyerdynamic Gmbh & Co. Kg, Fostex International, Merry Electronics Co. Ltd., and Concraft Holding Co. Ltd.
TBRC's global speaker driver industry analysis 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; by application into consumer, professional/enterprise, medical, others.
Asia Pacific was the largest region in the speaker drivers market in 2021. The regions covered in the speaker driver market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Speaker Drivers Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide speaker drivers market overviews, speaker drivers market analyze and forecast market size and growth for the whole market, speaker drivers market segments and geographies, speaker drivers market trends, speaker drivers market drivers, speaker drivers market restraints, speaker drivers market leading competitors' revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors' approaches.
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