The Mobile Phone Loudspeaker Market size was valued at USD 1.2 Billion in 2022. The mobile phone loudspeaker industry is projected to grow from USD 1.27 Billion in 2023 to USD 2.08 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.32% during the forecast period (2023 - 2032). Increasing demand for high-quality sound in mobile phones, advancement in loudspeaker technology, and growing popularity of music streaming services are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
An increasing number of smartphone utilizers is driving the market growth
Market CAGR for mobile phone loudspeaker is driven by the growing number of mobile phone utilizers and is predicted to drive the mobile phone micro-speaker market in the forecast period. As per the GSM Association, an organization that conveys the interests of mobile network operators globally, released 'The State of Mobile Internet Connectivity Report 2020', and according to it, the number of mobile phone users raised to around 3.8 billion globally. The improvement in the number of mobile phone users will increase the demand for mobile phone speakers, as these sound amplification devices are an integral part of mobile phones.
Additionally, increasing consumer preference for technologically advanced products. With growing consumer expenditure on smart mobile phones that are easy to use and inbuilt with cutting-edge technology, there has been a significant shift in consumer preference regarding the use of technology in daily life. Moreover, consumer demand for multifunctional, fast, varied, and reliable solutions has pushed many mobile phone loudspeaker manufacturers to integrate voice assistance into speakers. Connected devices and solutions have become prevalent among consumers owing to their user-friendliness. The emergence of smart speakers has allowed users to attach to online platforms and encouraged real-time communication on the go with expanded comfort, safety, convenience, and security.
Growing internet accessibility around the globe, along with various technological advancements such as 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI), among others, is expected to offer growth opportunities to the market. Advancements in technology, such as IoT, have led to the launch of innovative mobile phone accessories, such as smart wearable devices and wireless earphones. Moreover, many consumers in India are tech-savvy and willing to spend on technologically advanced mobile phone accessories. Therefore, advancements in technology are expected to offer significant opportunities for mobile phone accessories vendors all over the globe.
Increasing disposable income and mobile penetration are expected to expand market growth during the forecast period. As per the data issued by the Ministry of Statistics & Programme Implementation, the Gross National Disposable Income (GNDI) was valued at INR 200.86 lakh crore for the year 2020-21. Furthermore, increasing disposable income, along with high mobile penetration in India and improving living standards, has increased demand for mobile phone accessories. As per the Datareportal, at the start of 2022, India's internet penetration rate stood at 47.0 percent of the total population, driving the mobile phone loudspeaker market revenue.
The Mobile Phone Loudspeaker Market segmentation, based on product, includes mono and stereo. The stereo segment dominated the market, accounting for 35% of market revenue (0.45 Billion). In developing economies, category growth is driven by technological advancements, and miniaturization makes it possible for electronic companies to embed sensors and microchips into mobile phone loudspeakers. However, mono is the fastest-growing category due to technological advancement.
The Mobile Phone Loudspeaker Market segmentation, based on type, includes electric speakers, piezoelectric speakers, electromagnetic speakers, and plasma speakers. The electric speakers category generated the most income due to increased access to online streaming services along with easy availability of ample data storage on phones, tablets, and laptops have enabled consumers. However, electromagnetic speakers are the fastest-growing category due to the rise due the expansion of semiconductors and related industries drives the market growth.
The Mobile Phone Loudspeaker Market segmentation, based on sound output, includes less than 80 DB, 80-90 DB, and more than 90 DB. The 80-90 DB category generated the most income due to changing consumer lifestyles and the need for entertainment driving the market growth. However, more than 90 DB is the fastest-growing category due to the growing use of these products in podcasting, public speaking, entertainment, and television broadcasting.
Figure 1: Mobile Phone Loudspeaker Market, by Sound Output, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American mobile phone loudspeaker market will dominate owing to the growing demand for Internet-of-Things (IoT)-enabled services, and wireless devices will boost the market growth in this region. Further, the US mobile phone loudspeaker market held the largest market share, and the Canadian mobile phone loudspeaker market was the fastest-growing market in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Mobile Phone Loudspeaker Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's mobile phone loudspeaker market accounts for the second-largest market share due to the growing willingness of consumers to use and accept recent technologies has allowed manufacturers to develop advanced and unique products. Further, the German mobile phone loudspeaker market held the largest market share, and the UK mobile phone loudspeaker market was the fastest-growing market in the European region.
The Asia-Pacific mobile phone loudspeaker market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to a growing preference toward technology-led superior products in emerging nations, such as India and China. Moreover, China’s mobile phone loudspeaker market held the largest market share, and the Indian mobile phone loudspeaker market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the mobile phone loudspeaker market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the mobile phone loudspeaker industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is a critical business tactic manufacturers use in the global mobile phone loudspeaker industry to benefit clients and increase the market sector. Major players in the mobile phone loudspeaker market, including Gettop Acoustic Co., Ltd. (China), BeStar Electronics Co., Ltd (China), BSE Co., Ltd (South Korea), Fortune Grand Technology Inc. (Taiwan), CUI Inc. (US), Dain, Inc. (China), and others, are attempting to increase market demand by investing in research and development operations.
Samsung Electronics Co Ltd, a subsidiary of Samsung Group, manufactures consumer electronics, information technology and mobile communications, and device solutions. The company's product portfolio includes televisions (TV), refrigerators, washing machines, air conditioners, medical devices, printers, monitors, computers, network systems, and digital cameras. It also manufactures LCD and LED panels, mobile phones and smartphones, tablets, and accessories. Samsung provides solutions to retail, hospitality, healthcare institutions, finance, education, transportation, and government sectors. In June 2022, Samsung launched the Q and S series of wireless soundbars with Dolby Atmos support in India. The Q series is expressed to have the world’s first built-in wireless Samsung TV-to-Soundbar Dolby Atmos connection. In contrast, the S series is the world’s slimmest soundbar series.
Sony Group Corp manufactures electronic equipment, semiconductors, medical-related equipment, instruments, and devices. The company's products include televisions, mobile phones, cameras, music systems, game consoles and software, batteries, and other electronic components. Sony produces, acquires, and distributes recorded music, motion pictures, and television programming; and operates television and digital networks. The company markets products through sales subsidiaries, distributors, and direct sales through the Internet. It sells products under Sony, PlayStation, Walkman, Blu-ray, Cyber-shot, Bravia, Exmor, Experia, and Airpeak brands. The company operates in Asia-Pacific, Europe, the Middle East, Africa, and the Americas. In February 2022, Sony Corporation declared the newest addition to its premium mobile ES car subwoofer and amplifier line-up. This will deliver higher power output and clarity.
Get top Acoustic Co., Ltd. (China)
BeStar Electronics Co., Ltd (China)
BSE Co., Ltd (South Korea)
Fortune Grand Technology Inc. (Taiwan)
CUI Inc. (US)
Dain, Inc. (China)
EM-Tech.CO., LTD (South Korea)
Regal Electronics, Inc. (US)
Changzhou Su Yang Electronics Co., Ltd. (China)
June 2022: Bose introduced its most outstanding Bluetooth speaker as part of its Soundlink sequence in India. The speaker's robust strategy comes with the firm's proprietary Bose PositionIQ technology, which automatically notices the speaker's orientation to deliver improved audio playback.
October 2020: apple launched a new smart speaker called the Apple HomePod mini. HomePod Mini is organized to work with Apple Music, podcasts, and radio stations and delivers an immersive sound quality.
October 2021: Bose Corporation launched a Bluetooth speaker in the USA called Soundlink Flex. It features a portable and rugged design and comes with Bose PositionIQ technology that automatically detects the speaker's orientation to optimize sound delivery.
Mono
Stereo
Electric Speakers
Piezoelectric Speakers
Electromagnetic Speakers
Plasma Speakers
Less Than 80 DB
80-90 DB
More Than 90 DB
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.2 Billion |
| Market Size 2023 | USD 1.27 Billion |
| Market Size 2032 | USD 2.08 Billion |
| Compound Annual Growth Rate (CAGR) | 6.32% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Sound Output, Product, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Get top Acoustic Co., Ltd. (China), BeStar Electronics Co., Ltd (China), BSE Co., Ltd (South Korea), Fortune Grand Technology Inc. (Taiwan), CUI Inc. (US), Dain, Inc. (China), EM-Tech.CO., LTD (South Korea), Regal Electronics, Inc. (US), and Changzhou Su Yang Electronics Co., Ltd. (China) |
| Key Market Opportunities | Increasing demand for high-quality sound in mobile phones |
| Key Market Dynamics | Advancements in loudspeaker technology |
Mobile Phone Loudspeaker Market Highlights:
Frequently Asked Questions (FAQ) :
The Mobile Phone Loudspeaker Market size was valued at USD 1.2 Billion in 2022.
The global market is projected to grow at a CAGR of 6.32% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Gettop Acoustic Co., Ltd. (China), BeStar Electronics Co., Ltd (China), BSE Co., Ltd (South Korea), Fortune Grand Technology Inc. (Taiwan), CUI Inc. (US), Dain, Inc. (China), EM-Tech.CO., LTD (South Korea), Regal Electronics, Inc. (US), and Changzhou Su Yang Electronics Co., Ltd. (China).
The electric speaker category dominated the market in 2022.
The stereo had the largest share in the global market.
The 80-90 DB had the largest share in the global market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
