Audio IC and Audio Amplifier Market to Garner US$ 22,525.7 Million, Globally, by 2028 at 7.7% CAGR: The Insight Partners

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Growing Efforts in Development of Smart Infrastructure to Provide Opportunities for Audio IC and Audio Amplifiers Market during 2021–2028

NEW YORK, UNITED STATES, January 25, 2022 / -- According to the latest research report titled “Audio IC and Audio Amplifiers Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to grow from US$ 13,424.55 million in 2021 to US$ 22,525.70 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028.

Strategic Insights

Report Coverage Details

Market Size Value in US$ 13,424.5 Million in 2021
Market Size Value by US$ 22,525.7 Million by 2028
Growth rate CAGR of 7.7% from 2020 to 2028
Forecast Period 2020 – 2028
Base Year 2020
No. of Pages 170
No. Tables 61
No. of Charts & Figures 74
Historical data available Yes
Segments covered Type, Application, End-User
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Escalating Adoption of Consumer Electronics Drives Audio IC and Audio Amplifiers  Market

The adoption of consumer electronics and smart appliances is increasing with the development of new energy-efficient audio devices for both commercial and domestic use. Advancements in technologies and high disposable income among the working population are contributing to the audio IC and audio amplifiers market. Continuous technological innovations in the semiconductors industry, increasing demand for high-performance home theaters, and penetration of the Internet of Things (IoT) are also propelling the adoption of consumer electronic devices. The development of gallium nitride (GaN) power transistors has enabled manufacturers to offer high-performance home theater systems, with less production cost.

The GaN transistors in audio amplifiers have a high conversion rate of energy use, and it is smaller than silicon metal-oxide-semiconductor field-effect transistor (MOSFETs), which saves board space cost by eliminating the output LC filter section. Many smart appliances come with voice assistance, and Wi-Fi and Bluetooth connectivity, which is adding to their popularity among consumers. In the coming years, the consumer electronics market is expected to grow at an annual growth rate of 4.25% with 25% of user penetration across the world in 2021. Thus, the growing popularity of home audio systems to stream music using smartphones, smart speakers, and headphones, among other portable devices, drives the demand for compact and energy-efficient audio ICs.

Impact of COVID-19 Pandemic on Audio IC and Audio Amplifier Market

The COVID-19 pandemic has disturbed economic progress and disrupted supply chains in many countries. It has hampered the performances of industries such as energy, aviation, food & beverages, chemicals, retail and e-commerce, and travel and tourism. The decline in raw material supply from various manufacturers across North America, Europe, and the Asia Pacific, due to the downsizing of production and trade activities, is limiting the audio IC and audio amplifiers market growth. Moreover, the audio IC and audio amplifier market players are facing challenges in meeting the demand owing to a halt in business operations in the last few months, a decline in production of various components, as well as restrictions on the supply chain. However, the market has started regaining pace since 2021, with the demand- and supply-sides resuming their operations.

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Growing Popularity of AI-Based Smart Speakers Drives

Smart speakers come with voice command recognition and virtual assistance, enabled with Bluetooth and Wi-Fi connectivity options, which aid hands-free activation and interactive abilities such as music playback, voice interaction, day-to-day activity listing, news streaming, and weather forecast. The AI assistance and connectivity technologies allow users to control their home automation devices via smart speakers. The growing trend of AI-enabled smart speakers is driving the audio IC and audio amplifier market. The rise in preference for smart homes with luxurious entertainment systems, escalating demand for smart speakers with display features, and high inclination toward multifunctional devices, all coupled with rising per capita income of populations globally are among the key factors driving the sales of AI-based smart speakers, which is fueling the audio IC and audio amplifier market growth.

Audio IC and Audio Amplifier Market: Competitive Landscape and Key Developments

Maxim Integrated; INFINEON TECHNOLOGIES AG; NXP Semiconductors; Cirrus Logic, Inc.; ICEpower a/S; Renesas Electronics Corporation; Semiconductor Components Industries, LLC; STMicroelectronics N.V.; Texas Instruments Incorporated; Toshiba Corporation; and ESS Technology, Inc. are among the key players in the global Audio IC and Audio Amplifier market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In March 2021, STMicroelectronics developed HFDA801A, a 2-MHz switching pulse-width modulation (PWM) Class-D amplifier that ensures hi-definition (HD) quality sound under any load condition, with noiseless turn-on/turn-off, and without creating any output artifacts.

In November 2019, Texas Instruments Incorporated introduced TLV320ADC5140, a new audio analog-to-digital converter (ADC).

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