2-Channel Segment is Expected to be Fastest Growing During 2021–2028 for MEA Region
According to The Insight Partners market research study on “MEA Class D Audio Amplifier Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Product, and Industry” is expected to reach US$ 343.38 million by 2028 from US$ 200.31 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report provides trends prevailing in the MEA class D audio amplifier market along with the drivers and restraints pertaining to the market growth. Burgeoning trend of AI-enabled smart speakers and rising demand for electric vehicles are the major factor driving the growth of the MEA class D audio amplifier market. However, reduced price margin due to highly fragmented market hinders the growth of MEA class D audio amplifier market.
In case of COVID-19, South Africa got the highest no. of cases in MEA region. Oil & gas production and export is the major contributors to economic growth of the Middle Eastern countries. The impact of COVID-19 pandemic on most regions in the world has led to drop in oil demand. As a result, numerous oil production stations in the region have been shut down or have had to reduce production. On the other hand, these countries are thriving to diversify their economies. The COVID-19 pandemic has disturbed the economic progress in many of these countries. Energy, aviation, food & beverages, chemicals, retail and e-commerce, and travel and tourism are among the major industries in the Middle East that have experienced severe effects of the pandemic. Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are among the countries that have witnesses serious ill-effects of the outbreak. The region is projected to register a slight decline in raw material supply from various manufacturers across North America, Europe, and Asia Pacific, as these regions have discontinued their production and trade activities. According to the Institute of Chartered Accountants in England and Wales (ICAEW), the economy of the Middle East is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the COVID-19 outbreak. The economy is projected to regain its pace in 2021, after demand- and supply-sides regain their operations.
The MEA class D audio amplifier market is segmented based on type, product, industry, and country. Based on type, the market is categorized into mono-channel, 2-channel, 4-channel, and 6-channel. The mono-channel segment dominated the MEA class D audio amplifier market in 2020 and 2-channel segment is expected to be fastest growing during forecast period. Based on product, the market is segmented into automotive infotainment systems, smartphones, television, and others. The others segment dominated the MEA class D audio amplifier market in 2020 and automotive infotainment systems segment expected to be fastest growing during forecast period. Based on industry, the market is segmented into the automotive, consumer electronics, and others. The consumer electronics segment dominated the MEA class D audio amplifier market in 2020 and automotive segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
Analog Devices, Inc; INFINEON TECHNOLOGIES AG; Maxim Integrated; NXP Semiconductors N.V.; ON Semiconductor Corporation; Qualcomm Technologies, Inc.; Silicon Laboratories, Inc.; STMicroelectronics N.V.; and Texas Instruments Incorporated are among the leading companies in the MEA class D audio amplifier market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, 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 control on multimedia audio and video content.
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