Mobile Phone Speakers Market Size, Share and Forecast by 2030 |

Market scope

Market Research Future (MRFR) estimates that the growth rate of mobile phone speaker market in 2022 may be 5.39% between 2022 and 2030 (assessment period). It is also predicted that the market could reach a valuation of USD 1679.0 million by 2024. We will provide an impact analysis of covid-19 along with the report, offering an in-depth look in the wake of the disease outbreak to coronavirus.

COVID-19 Impact Analysis

The global lockdown due to the COVID-19 outbreak has led to an economic crisis that has affected various industries. While a number of industries are bearing the brunt of the pandemic, the smartphone manufacturing industry appears to have been hit hard. After the SARS-CoV-2 outbreak, various companies faced tough decisions, in terms of funding and cost-cutting measures to ensure an uninterrupted flow of operations. The lockdown situation was the short-term impact the novel coronavirus had on manufacturing sectors, causing demand from large-scale smartphone and cloud service providers to plummet. Weak demand has had a domino effect across the semiconductor industry, with prices falling. The COVID-19 outbreak and resulting lockdown has shut down operations, as well as e-commerce and retail stores, weakening supply chains and creating a greater gap between demand and supply.

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Given the long-term impact of COVID-19, governments are struggling to manage the situation by implementing supportive initiatives as well as policies such as financial packages, lower interest rates and exceptions tax. Work from home strategies have become the latest norm among businesses, coupled with the growing trend of BYOD policies, which could mean better demand for connected devices, laptops, computers and storage solutions in the post-pandemic era. Even as the world struggles to find a COVID-19 breakthrough, demand for mobile phones and associated markets like mobile phone speakers can expect some relief in the coming period.
The growth of the mobile speaker market can also be justified by the increasing penetration of Wi-Fi devices such as smartphones, tablets and laptops. It is expected that Bluetooth and Wi-Fi-enabled products may grow in popularity in the coming years as the consumption of online content and entertainment platforms increases. Technological innovations in design, sound quality, size and power consumption are some of the aspects of the products that can benefit industry players in the long term. Apart from this, rising sales of full-featured speakers could be a lucrative opportunity in the mobile phone speaker market.

Market segmentation

The Mobile Phone Speakers Market has been considered for product, type as well as sound output.

Types of mobile phone speakers are piezoelectric speakers, electric speakers, plasma speakers, and electromagnetic speakers. In 2018, the electric speaker segment led the market with the highest value of all segments.
Segments based on sound output in the market include 80-90dB, more than 90dB, and less than 80dB. In 2018, the largest market share belonged to the 80-90 dB segment and retained the highest value, while the second leading was the sub-80 dB segment.

Regional overview

Regional segmentation of the mobile phone speaker market includes APAC or Asia Pacific, Europe, MEA or Middle East & Africa, South America as well as South America North.
APAC could become the most profitable market for mobile phone speakers in the coming years, thanks to the increase in the disposable income of the population and the expansion of the middle class. The growing demand and production level of smartphones in India and China can pose exciting opportunities for the leading vendors in the market. Moreover, the growing preference, especially among young people, for audio and video games, along with the increasing diversity of advanced music, is driving the adoption of mobile phone speakers in the region.

North America can be another great market in the years to come, due to strong financial conditions and the growing popularity of home entertainment. The growing number of music-loving listeners, the expansion of digital music sales, and the high popularity of audio and video entertainment may be supportive for the market in the coming years.

Top Players
Leading companies in the global mobile phone speaker market include Fortune Grand Technology Inc. (Taiwan), Changzhou Su Yang Electronics Co., Ltd. (China), Dain, Inc. (China), BSE Co., Ltd (South Korea), BeStar Electronics Co., Ltd (China), Gettop Acoustic Co., Ltd. (China), EM-Tech.CO., LTD (South Korea), CUI Inc. (USA), Regal Electronics, Inc. (USA), to name a few.
Primary amplifiers and main obstacles

Massive sums spent on entertainment can open up various new avenues for market players in the coming years. Changing consumer preferences as well as changing lifestyle may also boost the demand for mobile phone speakers during the assessment period. The market is also benefiting from booming e-commerce and m-commerce sectors, growing internet penetration, expanding urban population, and global presence of a strong distribution network.

Recent news

May 2020
Xiaomi Redmi K30i 5G smartphone was recently launched in China, which supports smart PA speaker, Hi-Res audio support as well as 1217 ultra-linear speaker. 3.5mm audio.

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