Market Size of Microspeaker Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Microspeaker Market Analysis
The microspeaker market was valued at 12.22 billion units in 2020 and expected to reach 23.35 billion units by 2026 and grow at a CAGR of 11.4% over the forecast period (2021-2026). Early microspeakers found applications in portable transistor radios, earphones, headphones, personal computers, video games, and so forth. Mobile audio products have increased microspeaker consumption, especially cell phones, which use a 'receiver' for sound reproduction when held to the ear and require a speakerphone function.
- The increasing adoption of earphones and headphones owing to expanding the market for portable audio devices, such as MP3 players, hand-held gaming consoles, and multimedia phones are boosting the growth of the microspeakers market.
- The technological advancements in the fields of earphones and headphones such as the emergence of Active Noise Cancellation that enhances the consumers' listening experience are expected to fuel the market growth over the forecast period.
- Some of the prominent players in the market through strategic partnerships have been able to further the technology and gain a stronger footprint in the market. For instance, in September 2019 sportswear manufacturer Adidas in collaboration with audio technology developer Zound Industries launched two wireless audio product ranges such as neck-band design earphones and over-the-head earphones. Such collaborations are expected to boost the market growth.
