Market Scope
Market Research Future (MRFR) estimates that the growth rate
of the mobile phone loudspeaker market 2020 can be 5.39% between 2018 and 2024
(appraisal period). It is also projected that the market can reach a valuation
of USD 1679.0 Million by 2024. We will provide covid-19 impact analysis with
the report, offering an in-depth review following the coronavirus disease
outbreak.
COVID-19 Impact Analysis
The worldwide lockdown on account of the COVID-19 outbreak has
led to an economic crisis that has hit various industries. While a number of
business sectors are bearing the brunt of the pandemic, the smartphone
manufacturing industry seems has been severely impacted. Post the SARS-CoV-2
outbreak, various companies were faced with tough decisions, in terms of
finance and cost-cutting measures to ensure uninterrupted flow of operations.
The lockdown situation was the short term impact that the novel coronavirus has
had across manufacturing sectors, leading to plummeting demand from the smartphone
and hyperscale cloud service providers. The weak demand has had a domino effect
throughout the semiconductor industry, with the drop in the prices. The
COVID-19 outbreak and the resultant lockdown has led to shutting down of
operations, along with e-commerce and retail stores, which has made the supply
chains fragile and created a larger gap between demand and supply.
Top Players
Top companies in the global market for mobile phone
loudspeaker 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. (US), Regal Electronics, Inc. (US), to
name a few.
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Considering the long-term impact of COVID-19, governments are
striving to handle the situation by implementing favorable initiatives as well
as policies such as financial packages, lower interest rate and exceptions in
tax. The work from home strategies have become the latest norm among companies
coupled with the rising trend of the BYOD policies, which could mean better
demand for connected devices, laptops, computers, and storage solutions in the
post pandemic era. Even as the world is struggling to find a COVID-19
breakthrough, the demand for mobile phones and associated markets like mobile
phone loudspeaker can expect some relief in the coming period.
Primary Boosters and Key Barriers
Massive amount spent on entertainment can open various new
avenues for the market players in the coming years. Evolving consumer
preference along with the changing lifestyle can also boost the demand for
mobile phone loudspeaker over the appraisal period. The market also benefits
from the boom in the e-commerce and m-commerce sectors, surging internet
penetration, expanding urban population, and the worldwide presence of a strong
distribution network.
The mobile speaker market growth can also be warranted by the
rising penetration of Wi-Fi backed devices such as smartphones, tablets and
laptops. It is projected that Bluetooth and Wi-Fi backed products can gain
immense popularity in the years ahead in line with the widening consumption of
online content and entertainment platforms. Technological innovations in terms
of design, sound quality, size and power consumption are some of the aspects of
the products that can benefit the industry participants in the long run. Apart
from this, the rising sales of comprehensive speakers could be a lucrative
opportunity in the mobile phone loudspeaker market.
Market Segmentation
The Loudspeaker
For Mobile Phone Market has been considered for product, type as well
as sound output.
The types of mobile phone loudspeaker are piezoelectric
speakers, electric speakers, plasma speakers and electromagnetic speakers. In
2018, the electric speakers segment led the market with the highest value out
of all the segments.
The sound output-based segments in the market include 80–90
dB, more than 90 dB and less than 80 dB. In 2018, the largest share of the
market belonged to the 80-90 dB segment and retained the highest value, while
the second in lead was the less than 80 dB segment.
Regional Insight
The region-wise segmentation of the mobile phone loudspeaker
market comprises APAC or Asia Pacific, Europe, MEA or Middle East and Africa,
South America as well as North America.
APAC could emerge as the most profitable market for mobile
phone loudspeaker in the following years, thanks to the growing disposable
income of the people and the expanding middle-class population. The mounting
demand and production level of smartphones in India and China can be attractive
opportunities for the leading vendors in the market. Moreover, the rising
preference, particularly among youth, for sound and video games, alongside the
increasing diversity in advanced music, supports the uptake of mobile phone
loudspeakers in the region.
North America can be another formidable market in the
approaching years, as a result of the strong financial conditions and the
mounting popularity of in-home entertainment. The growing number of avid music
listeners, expanding digital music sale, and the high popularity of audio and
video entertainment can be favorable for the market in the next few years.
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Latest News
May 2020
The Xiaomi Redmi K30i 5G smartphone has recently been released
in China, which supports smart PA loudspeaker, Hi-Res audio support as well as
1217 ultra-linear speaker. The device also comes with a 3.5mm audio jack.
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