Global Mobile Phone Loudspeaker Market: (CAGR 5.1% ) Technical Report + Feasibility Study, 2022-2032
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Market Overview
Published Via 11Press: The Mobile Phone Loudspeaker Market was expanding consistently on a global scale. Its expansion was attributable to the increase in demand for smartphones and other mobile devices, as well as streaming music and video content.
The analysis from Market.us Research projects that the global mobile phone loudspeakers market will be valued at USD 19.14 billion in 2022 and USD 31.48 billion in 2032, rising at a CAGR of 5.1% over that period.
The market, according to the study, is being stimulated by rising smartphone and other mobile device entertainment usage as well as a rising trend of incorporating premium audio systems into mobile devices.
Regional Snapshot
- Asia-Pacific: In 2019, Asia-Pacific was the leading market for Mobile Phone Loudspeakers by revenue. The increasing adoption of smartphones and other mobile devices, combined with an increasing trend toward high-quality audio systems, spurred market expansion in this region. Major manufacturers from countries like China, South Korea, and Japan further contributed to its development.
- North America: North America was the second-largest market for Mobile Phone Loudspeakers in 2019. This was due to an uptick in smartphone and other mobile device usages, combined with streaming music and video content’s rising popularity, all contributing factors to growth within this region.
- Europe: The European market for Mobile Phone Loudspeakers was highly developed, with countries like Germany, the UK, and France leading its growth. The rising demand for mobile devices coupled with an increasingly sophisticated audio system integration trend fueled this expansion across the region.
- Rest of the World: The Rest of the World region, comprising countries in Latin America, the Middle East, and Africa, experienced significant growth in the Mobile Phone Loudspeaker market. This can be attributed to rising smartphone adoption rates as well as music and video streaming services’ increasing popularity within this region.
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Drivers
- The Smartphone and Other Mobile Devices Market: The primary driver of growth in the Mobile Phone Loudspeaker Market was an increasing use of smartphones and other portable electronic devices. Due to this surge in users, there is an increasing demand for louder and better sounding phones.
- Growing Trend of Integrating High-Quality Audio Systems:Another driving factor of the market is the rising trend to integrate high-quality audio systems into mobile devices. To provide consumers with enhanced listening experiences, manufacturers are adopting advanced audio technologies such as Dolby Atmos and Harman Kardon into their smartphones.
- Popularity Streaming Music and Videos: With the growing popularity of streaming music services like Spotify, Apple Music, Netflix, and others, there has been an uptick in demand for mobile loudspeakers. As more people utilize their phones to access audio files, there is an increasing need for louder speakers with superior sound quality.
- Technological Developments:Advances in audio technology such as sound processing algorithms and materials, combined with improved acoustic design, have enabled the creation of better mobile phone loudspeakers. This has spurred growth in this market by providing users with a superior listening experience while on-the-go.
- Higher Disposable Income: Rising disposable income levels across many regions have caused an uptick in demand for high-end mobile phones, prompting an increased need for portable loudspeakers.
Restraints
- High Competition and Pricing Pressures: The Mobile Phone Loudspeaker market is highly competitive, with many manufacturers offering similar products. This has created pricing pressures which may make it difficult for manufacturers to remain profitable.
- Limited Adoption of High-End Audio Technology: Although there is an increasing trend to integrate high quality audio systems into mobile devices, adoption remains limited due to its cost. This may limit the market potential as many consumers may not be willing to shell out the extra money for superior sound capabilities.
- Limited Customizability Options: Mobile phone loudspeakers are often integrated into the device during production, providing limited customization options for consumers. This makes it difficult for manufacturers to differentiate their products from those of competitors.
- Regulatory Compliant: The Mobile Phone Loudspeaker market is subject to various regulatory compliance obligations, such as safety and quality standards. Adhering to these regulations can prove expensive and time-consuming for manufacturers.
- Regulatory compliance: The growing preference for wireless audio technologies such as Bluetooth and Wi-Fi may present a challenge to the Mobile Phone Loudspeaker market, as some consumers may prefer these alternatives over built-in speakers.
Opportunities
- Integration of modern audio technologies: For makers of mobile phone loudspeakers, the integration of advanced audio technologies, such as virtual surround sound, active noise cancellation, and voice assistants, represents a sizable opportunity. Producers may distinguish their products and provide a better audio experience by integrating these technologies into mobile devices.
- Growing Demand for Wireless Speakers: As the popularity of wireless audio options like Bluetooth and Wi-Fi speakers continues to expand, manufacturers of Mobile Phone Loudspeakers can expand their product lines with speakers that connect directly to mobile devices. Offering such systems allows manufacturers to attract those who prefer this style of audio system.
- Increased Demand for Smart Speakers: With the rising popularity of voice assistants such as Amazon Alexa and Google Assistant, manufacturers can capitalize on this trend to develop smart speakers that integrate with these assistants. By providing hands-free operation through voice commands, manufacturers can appeal to those who prefer hands-free operation.
- Development of New Form Factors: The advent of foldable and rollable screens presents Mobile Phone Loudspeaker manufacturers with an opportunity to create innovative audio solutions. By embedding loudspeakers into these screens or other components of the device, manufacturers can provide customers with new and exciting audio experiences.
- Increasing Demand in Emerging Markets: The Mobile Phone Loudspeaker market offers significant growth prospects in emerging economies, where mobile device adoption is increasing rapidly. By catering to the specific needs and preferences of consumers in these regions, manufacturers can access new sources of revenue and expand their customer base.
Challenges
- Design and Manufacturing Complexity: Designing and fabricating Mobile Phone Loudspeakers that fit into increasingly thin and compact mobile devices presents a design and manufacturing challenge, which may result in increased costs and reduced profitability.
- Environmental Concerns: The Mobile Phone Loudspeaker market is increasingly being scrutinized for its environmental impact, especially regarding materials usage and end-of-life disposal. Manufacturers need to develop sustainable practices and products that are eco-friendly in order to meet the growing demand for responsible products.
- Rapidly shifting consumer preferences: Rapidly altering consumer tastes and the introduction of new technologies can make it challenging for manufacturers to stay abreast of the market. In order to stay ahead of these adjustments, businesses must stay ahead of consumers’ needs while offering them increasingly innovative products and services.
- Intellectual Property Issues: The Mobile Phone Loudspeaker market is vulnerable to intellectual property disputes, such as patents and trademarks. Unresolved legal disputes and licensing fees could increase costs and negatively affect profitability in the long run.
- Supply chain Disruptions: The Mobile Phone Loudspeaker market can experience supply chain interruptions due to natural disasters, trade disputes and geopolitical tensions. These disruptions may cause supply chain delays, increased costs and decreased profitability.
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Recent Developments
- Incorporation of Advanced Audio Technologies: Mobile device manufacturers are progressively integrating advanced audio technologies, such as active noise cancellation and virtual surround sound, into their products. Consumer demand for a better audio experience is what’s driving this trend.
- Emergence of Smart Speakers: With the popularity of voice-activated smart speakers like Google Assistant and Amazon Alexa, demand for mobile phone loudspeakers that can be connected to these assistants is rising.
Key Market Segments:
Type
- Mono
- Dual – channel
- Stereo
Application
- Smartphone
- Mobile Phone
Key Market Players included in the report:
- AAC
- Goertek
- Knowles
- Hosiden
- Foster
- Merry
- Em-tech
- Bulecom
- Fortune Grand Technology
- BSE
- Dain
- Bestar
- New Jialian Electronics
- Gettop Acoustic
- Suyang Electronics
Report Scope
| Report Attribute | Details |
| The market size value in 2022 | USD 19.14 Bn |
| Revenue forecast by 2032 | USD 31.48 Bn |
| Growth Rate | CAGR Of 5.1% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2032 |
Frequently Asked Questions
Q: What is the current market size for the Mobile Phone Loudspeaker market?
A: The global mobile phone loudspeaker market size was valued at USD 19.14 billion in 2022 and is expected to reach USD 31.48 billion by 2032, growing at a CAGR of 5.1% during the forecast period (2022-2032).
Q: What are the different segments of the Mobile Phone Loudspeaker market?
A: The mobile phone loudspeaker market can be segmented based on type, applications. The type segment includes Mono, Dual – channel, Stereo. The application segment includes Smartphone, Mobile Phone.
Q: Who are the key players in the Mobile Phone Loudspeaker market?
A: Some of the key players operating in the mobile phone loudspeaker market include AAC, Goertek, Knowles, Hosiden, Foster, Merry, Em-tech, Bulecom, Fortune Grand Technology, BSE, Dain, Bestar, New Jialian Electronics, Gettop Acoustic, Suyang Electronics.
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