Mobile Loudspeaker Market To Grow At 6.32% CAGR By 2024 (SARS-CoV-2, Covid-19 Analysis)

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Mobile Loudspeaker Market

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Mobile Loudspeaker Market. The growth sectors of the Mobile Loudspeaker Market are identified with precision for a better growth perspective.

The worldwide mobile phone loudspeaker market is estimated to attain USD 1679.0 mn by 2024. According to the study conducted by Market Research Future, the global mobile phone loudspeaker market is expected to expand at a CAGR of 6.32% over the forecast period. Market Research Future (MRFR) in its study covers significant aspects like drivers and segmentations to offer an improved glance of the market throughout the forecast years.

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Loudspeakers are inbuilt elements of mobile phones which find wide application for video calls, voice calls, alerts & notifications, and listening to music. Today, as mobile phones have started playing the role of portable music players, customers have started employing the built-in speakers for playing music. With the advent of globalization, people staying away from family for working abroad, has become a common phenomenon across the world. Additionally, the growing global presence of companies are turning phone calls into an inevitable part of businesses. Therefore, both for keeping in touch with family and for serving clients, mobile phone loudspeakers play substantial role. This leads to the expanding demand of the global mobile phone loudspeaker market.

Segmental Analysis

As per the report published by Market Research Future, the global mobile phone loudspeaker market has been segregated on the basis of type, product, region, and sound output. On the basis of type, the market has been categorized into piezoelectric speakers, electric speakers, plasma speakers, and electromagnetic speakers. The electric speakers segment attributed to the larger market share during 2018, with a highest market worth over the forecast tenure.. Electric speakers mostly employ a conductor with excellent conductivity for the voice coil to offer the sound signal by the means of speakers. Piezoelectric sound elements are broadly implemented from on-vehicle materials and industrial equipment to consumer products. Electromagnetic speakers are also referred to as reed-type speakers, where a transforming input signal creates the sound rather than creating a tone that sounds exactly like a buzzer. A plasma speaker employs a high-voltage-pulse generator to create a swiftly occurring array of plasma arcs in place of a solid diaphragm, by means of which an audio signal can be fetched from an electrical signal and transformed into an overpressure wave. Based on sound output, the market has been categorized into less than 80 dB, 80–90 dB, and more than 90 dB. The 80-90 dB segment represented the greater market share during 2018, with the highest market worth over the forecast tenure. The less than 80 dB segment held the second largest market during 2018. The magnitude of a mobile phone speaker doubles with every 10dB augmentation. The sound output of less than 80 dB is present in loudspeakers that deliver sound output from 10 dB to 80 dB. As per the US National Institutes of Health, extended exposure to sounds more than 85 decibels (dB) can lead to hearing loss. The loudspeakers with sound volume more than 90 dB are mostly used by the non-branded or local mobile makers.

Regional Analysis

Asia Pacific dominates the global mobile phone loudspeaker market. It reflects almost 61% market share. The rising income levels leads to the increased ownership of premium smartphones within the region. Additionally, the increased integration of loudspeaker in gaming smartphones leads to the growth of the market in this region.

Key Players

The key players dominating the worldwide mobile phone loudspeaker market include names like BeStar Electronics Co., Ltd (China), Gettop Acoustic Co., Ltd. (China), Fortune Grand Technology Inc. (Taiwan), BSE Co., Ltd (South Korea), Dain, Inc. (China), CUI Inc. (US), Regal Electronics, Inc. (US), Changzhou Su Yang Electronics Co., Ltd. (China), and EM-Tech.CO., LTD (South Korea).

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