Increased Demand For Audio And Video Services Drives The Speaker Drivers Industry

Speaker Drivers Market Report 2021: COVID-19 Growth And Change

Speaker Drivers Global Market Report 2021: COVID-19 Growth And Change

The Business Research Company’s Speaker Drivers Global Market Report 2021: COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, February 23, 2021 / — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:

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The speaker drivers market was supported by the increased demand for audio and video streaming services globally. As per speaker driver market research, this was mainly due to rapid growth in internet penetration and rising popularity among people. According to Statista, the number of Netflix (OTT Service) subscribers increased to 195.15 million by the third quarter of 2020. Also, according to a year-end report by the Recording Industry Association of America (RIAA), streaming services grew nearly 20% in 2019 to $8.8 billion, accounting for 79.5% of all recorded music revenues. The rise in the popularity of audio and video streaming services supported the demand for the speaker drivers market.

The global speaker driver market size is expected to grow from $20.9 billion in 2020 to $22.25 billion in 2021 at a compound annual growth rate (CAGR) of 6.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $29.29 billion in 2025 at a CAGR of 7.1%.

TBRC’s speaker drivers market analysis shows the major players covered in the market to be Sony Corporation, Samsung Electronics, BOSE, JBL, Sennheiser Electronic GmbH & Co. KG, Knowles Electronics, Goertek, Beyerdynamic Gmbh & Co. Kg, Fostex International, Merry Electronics Co. Ltd., Concraft Holding Co. Ltd, Eastech, Voz Electronic Co. Ltd, Fortune Grand Technology Inc., Tymphany, Premium Sound Solutions, Ole Wolff, Aac Technologies, 1more, Sonion, Bellsing, Molex, Klipsch, KEF, Definitive Technology, Bowers & Wilkins, Dynaaudio, QSC, Focal, Quested.

Speaker Drivers Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides speaker drivers market overview, forecast speaker drivers market size and growth for the whole market, speaker drivers market segments, and geographies, speaker drivers market trends, speaker drivers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Source: EIN Presswire