According to a new research study on “Audio IC and Audio Amplifiers Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Audio IC Type, Audio Amplifier Class, and Geography,” the market is projected to reach US$ 22,525.70 million by 2028 from US$ 13,424.55 million in 2021; it is expected to grow at a CAGR of 7.7% during 2021–2028.
| 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 |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Smart speakers come with voice command recognition and virtual assistance, enabled with Bluetooth and Wi-Fi connectivity options, which aid hands-free activation and confer interactive abilities such as music playback, voice interaction, day-to-day activity listing, news streaming, and weather forecast. Additionally, these speakers allow users to stream audio from a variety of sources, upon an audio request. Manufacturers are adding audio and voice functionalities such as wireless access points, soundbars, smart thermostats, and smart home hubs to their products. The aforementioned technological developments in audio systems are propelling the demand for audio amplifiers and subsequently fueling the audio IC and audio amplifier market. The AI assistance and connectivity technologies allow users to control other home automation devices via smart speakers. This trend is attributed to technological advancements in consumer electronics and increasing customer preferences for automated products with advanced features. The AI-enabled smart speakers capture sound waves and convert them into words using the automatic speech recognition (ASR) technology. Further, the verbal data is converted into meaningful sentences using the natural language understanding (NLU) technology. Once the meaning is understood, the smart speakers respond using the natural language generation (NLG) technology. 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.
The impact of COVID-19 has been different in various countries in Europe, as selected countries witnessed a surge in a number of confirmed cases and subsequently attracted stringent as well as longer periods of lockdown or social isolation. However, western European countries, such as Germany, France, Russia, and the UK, have witnessed a comparatively moderate decline in their production activities owing to robust healthcare infrastructure. The pandemic was projected to cause a decline by 0.1% in the European economy, with a negative growth rate in the first half of 2020, followed by a mild recovery in the second-half of 2020. Countries such as the UK, Italy, and Germany are expected to have a bigger impact on the economy. Imbalance in the demand and supply sides, in addition to lockdown phases in several European countries, hindered on the audio IC and audio amplifier market in the region in the first half of 2020. The consequent decrease in the production of audio electronics due to the shutdown of production plants and scarcity of labourers is hampering the growth of the audio IC and audio amplifier market. Due to the presence of big manufacturers, Europe is one of the major information technologies (IT) hubs, and operational disruptions faced by countries in Europe has resulted in slowdown in investments in the audio amplifier market. However, with the gradual economic recovery and acceleration of vaccination efforts, the market is expected to have significant growth during the forecast period
Roll Out of 5G Technology to Emerge as Significant Trend in Market in Coming Years
The 5G connectivity would integrate mobile technologies such as Big Data, IoT, and cloud computing, and empower enhanced mobile broadband (eMBB) services, intelligent driving, smart power grids, smart manufacturing, and mobile medicine. The next-generation 5G mobile radio networks would offer a platform for innovative applications requiring extremely short latency times and/or high data rates of up to 10 Gbps. Therefore, the 5G technology is likely to ease the efficiency of audio signal transmission over internet protocol (AoIP); moreover, it would help reduce the sound latency and allow 200-times higher bandwidths than commercial mobile radio infrastructure. The rising penetration of the 5G technology in the smartphones segment would provide major opportunities for the audio IC and audio amplifier market players. Thus, the demand for high-quality output will increase with elevating sales of 5G smartphones, thereby adding to the requirement of audio equipment supporting high-quality audio formats.
Audio IC and Audio Amplifiers Market: Class A/B Overview
The class A/B is one of the most commonly used types of audio power amplifier designs. Class A/B speaker amplifiers offer high signal-to-noise ratio (SNR), low THD+N, and up to 65% efficiency, which makes them an ideal choice in high-fidelity speaker drives. Class A/B amplifiers are among the most preferred audio power amplifiers as they have low crossover distortion and high linearity due to the combination of good efficiency and high-quality output. The rising use of audio amplifiers in industrial automation, especially in DC and servo motors, and the growing need for transmitting cellular and FM broadcasting signals are driving the demand of Class A/B amplifiers.
Audio IC and Audio Amplifiers 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 market players in the Audio IC and Audio Amplifiers market. In addition, several other essential market players were also studied and analyzed to get a holistic view of the global audio IC and audio amplifiers market and its ecosystem.
Audio IC and Audio Amplifier Market – Company Profiles
- IC Audio GmbH
- ICEpower A/S
- Infineon Technologies AG
- Maxim Integrated
- NXP Semiconductors N.V.
- Renesas Electronics Corporation
- Semiconductor Components Industries, LLC
- STMicroelectronics
- Texas Instruments Incorporated
- Toshiba Corporation
