Mobile Phone Loudspeaker Market

• An increasing number of smartphone utilizers is driving the market growth

Market CAGR for mobile phone loudspeaker is driven by the growing number of mobile phone utilizers and is predicted to drive the mobile phone micro-speaker market in the forecast period. As per the GSM Association, an organization that conveys the interests of mobile network operators globally, released 'The State of Mobile Internet Connectivity Report 2020', and according to it, the number of mobile phone users raised to around 3.8 billion globally. The improvement in the number of mobile phone users will increase the demand for mobile phone speakers, as these sound amplification devices are an integral part of mobile phones.

Additionally, increasing consumer preference for technologically advanced products. With growing consumer expenditure on smart mobile phones that are easy to use and inbuilt with cutting-edge technology, there has been a significant shift in consumer preference regarding the use of technology in daily life. Moreover, consumer demand for multifunctional, fast, varied, and reliable solutions has pushed many mobile phone loudspeaker manufacturers to integrate voice assistance into speakers. Connected devices and solutions have become prevalent among consumers owing to their user-friendliness.

The emergence of smart speakers has allowed users to attach to online platforms and encouraged real-time communication on the go with expanded comfort, safety, convenience, and security.

Growing internet accessibility around the globe, along with various technological advancements such as 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI), among others, is expected to offer growth opportunities to the market. Advancements in technology, such as IoT, have led to the launch of innovative mobile phone accessories, such as smart wearable devices and wireless earphones. Moreover, many consumers in India are tech-savvy and willing to spend on technologically advanced mobile phone accessories. Therefore, advancements in technology are expected to offer significant opportunities for mobile phone accessories vendors all over the globe.

Increasing disposable income and mobile penetration are expected to expand market growth during the forecast period. As per the data issued by the Ministry of Statistics & Programme Implementation, the Gross National Disposable Income (GNDI) was valued at INR 200.86 lakh crore for the year 2020-21. Furthermore, increasing disposable income, along with high mobile penetration in India and improving living standards, has increased demand for mobile phone accessories. As per the Datareportal, at the start of 2022, India's internet penetration rate stood at 47.0 percent of the total population, driving the mobile phone loudspeaker market revenue.

The proliferation of streaming services is reshaping the Global Mobile Phone Loudspeaker Market Industry. As more consumers turn to platforms for music and video content, the demand for mobile devices equipped with high-performance loudspeakers is increasing. This shift is evident in the market's anticipated growth, reaching 2.45 USD Billion by 2035. The need for enhanced audio quality to complement streaming experiences is prompting manufacturers to innovate and improve loudspeaker technology, ensuring that mobile devices meet the expectations of content consumers who prioritize sound quality.

The integration of smart features in mobile phones is significantly influencing the Global Mobile Phone Loudspeaker Market Industry. Features such as voice recognition, AI-driven sound optimization, and connectivity with smart home devices are becoming standard in modern smartphones. This trend not only enhances user experience but also drives the demand for advanced loudspeakers capable of supporting these functionalities. As a result, the market is expected to grow steadily, with a projected CAGR of 5.55% from 2025 to 2035, indicating a shift towards more sophisticated audio solutions that align with evolving consumer expectations.

The Global Mobile Phone Loudspeaker Market Industry is witnessing an increasing demand for high-quality audio experiences among consumers. As mobile devices become primary entertainment sources, users expect superior sound quality for music, videos, and gaming. This trend is reflected in the projected market value of 1.35 USD Billion in 2024, driven by advancements in audio technology and consumer preferences for immersive sound. Manufacturers are investing in innovative loudspeaker designs and materials to enhance audio performance, which is likely to attract a broader audience and contribute to market growth.

Increased consumer spending on mobile devices is a significant driver of the Global Mobile Phone Loudspeaker Market Industry. As disposable incomes rise globally, consumers are more willing to invest in high-end smartphones that offer superior audio capabilities. This trend is reflected in the market's growth trajectory, with expectations of reaching 1.35 USD Billion in 2024. The willingness to pay for enhanced audio experiences is prompting manufacturers to prioritize loudspeaker quality in their product offerings, thereby fostering a competitive landscape that emphasizes sound performance as a key differentiator.

Technological advancements in loudspeaker design are playing a crucial role in the Global Mobile Phone Loudspeaker Market Industry. Innovations such as miniaturization, improved materials, and enhanced acoustic engineering are enabling manufacturers to produce smaller, yet more powerful loudspeakers. These advancements not only improve sound quality but also allow for sleeker device designs, appealing to consumers who value aesthetics alongside functionality. As the market continues to evolve, these technological improvements are likely to drive growth and maintain competitiveness among manufacturers in an increasingly crowded marketplace.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American mobile phone loudspeaker market will dominate owing to the growing demand for Internet-of-Things (IoT)-enabled services, and wireless devices will boost the market growth in this region. Further, the US mobile phone loudspeaker market held the largest market share, and the Canadian mobile phone loudspeaker market was the fastest-growing market in the North American region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Mobile Phone Loudspeaker Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's mobile phone loudspeaker market accounts for the second-largest market share due to the growing willingness of consumers to use and accept recent technologies has allowed manufacturers to develop advanced and unique products. Further, the German mobile phone loudspeaker market held the largest market share, and the UK mobile phone loudspeaker market was the fastest-growing market in the European region.

The Asia-Pacific mobile phone loudspeaker market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to a growing preference toward technology-led superior products in emerging nations, such as India and China. Moreover, China’s mobile phone loudspeaker market held the largest market share, and the Indian mobile phone loudspeaker market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the mobile phone loudspeaker market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the mobile phone loudspeaker industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is a critical business tactic manufacturers use in the global mobile phone loudspeaker industry to benefit clients and increase the market sector. Major players in the mobile phone loudspeaker market, including Gettop Acoustic Co., Ltd. (China), BeStar Electronics Co., Ltd (China), BSE Co., Ltd (South Korea), Fortune Grand Technology Inc. (Taiwan), CUI Inc. (US), Dain, Inc. (China), and others, are attempting to increase market demand by investing in research and development operations.

Samsung Electronics Co Ltd, a subsidiary of Samsung Group, manufactures consumer electronics, information technology and mobile communications, and device solutions. The company's product portfolio includes televisions (TV), refrigerators, washing machines, air conditioners, medical devices, printers, monitors, computers, network systems, and digital cameras. It also manufactures LCD and LED panels, mobile phones and smartphones, tablets, and accessories. Samsung provides solutions to retail, hospitality, healthcare institutions, finance, education, transportation, and government sectors. In June 2022, Samsung launched the Q and S series of wireless soundbars with Dolby Atmos support in India.

The Q series is expressed to have the world’s first built-in wireless Samsung TV-to-Soundbar Dolby Atmos connection. In contrast, the S series is the world’s slimmest soundbar series.

Sony Group Corp manufactures electronic equipment, semiconductors, medical-related equipment, instruments, and devices. The company's products include televisions, mobile phones, cameras, music systems, game consoles and software, batteries, and other electronic components. Sony produces, acquires, and distributes recorded music, motion pictures, and television programming; and operates television and digital networks. The company markets products through sales subsidiaries, distributors, and direct sales through the Internet. It sells products under Sony, PlayStation, Walkman, Blu-ray, Cyber-shot, Bravia, Exmor, Experia, and Airpeak brands. The company operates in Asia-Pacific, Europe, the Middle East, Africa, and the Americas.

In February 2022, Sony Corporation declared the newest addition to its premium mobile ES car subwoofer and amplifier line-up. This will deliver higher power output and clarity.