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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.
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 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 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 assist, and Wi-Fi and Bluetooth connectivity, which is adding to their popularity among consumers. In coming years, consumer electronics market is expected 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.
North America is one of the most important regions for the development and adoption of new technologies owing to favorable government policies that boost innovation and strengthen the infrastructure capabilities. The shutdown of businesses, delay in procurement activities, and fall in GDP are limiting the audio IC and audio amplifier market growth rate. The COVID-19 crisis has drastically upended operations across value chains, affecting supplier networks as well as customer delivery experience. North America has the presence of several electronic component manufacturers offering advanced and innovative components for building audio IC and audio amplifiers. The outbreak has severely affected the production activities and supply operations of market players. However, the audio IC and audio amplifier market is expected to witness significant growth opportunities in the coming years owing to the rising demand for 5G-enabled electronic devices.
Several companies have adopted different strategies to continue their operations and increase their annual sales statistics. ESS Technology Inc. has announced an agreement with Mouser Electronics. Mouser Electronics is a global distributor of ESS Products, including the SABRE and SABRE PRO lines of DACs and Headphone system-on-chips (SoCs). NXP Semiconductors partnered with Art Spa to develop the most advanced infotainment systems for luxury sports cars. The system provides in-vehicle entertainment features, including smartphone integration, making them easy and safe to use, and facilitating control on both audio and video content.
Key Findings of Study:
The audio IC and audio amplifiers market is segmented into five major regions—North America, Europe, APAC (Asia-Pacific), MEA (Middle East and Africa), and SAM (South America). APAC led the market in 2020 with a substantial revenue share, followed by North America and Europe. Infineon Technologies AG announced the completion of the acquisition of Cypress Semiconductor Corporation. This combination of Cypress and Infineon would lead to a denser network of sales offices, R&D centers, manufacturing sites, and distribution partnerships. Cypress adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems, and high-performance memories. Cirrus Logic, Inc. has entered into an agreement with Lion Semiconductor for its acquisition. Lion Semiconductor is a leading developer of power/battery management ICs. With this acquisition, the company is investing US$ 335 million in cash with an aim to enhance its product portfolio by adding power products to it. Shenzhen Goodix Technology Co., Ltd. has announced a definitive agreement with NXP Semiconductors under which it would acquire all the assets of NXP Semiconductors’ Voice and Audio Solutions (VAS).
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