The audio IC and audio amplifier market is projected to reach US$ 22,525.7 million by 2028 from US$ 13, 424.5 million in 2021; it is expected to grow at a CAGR of 7.7% from 2021 to 2028.
The growing preference for a connected world and need of miniaturization are propelling advancements in the audio IC and audio amplifiers market. An amplifier serves the purpose of increasing vibrations to the maximum extent of signals without affecting the frequency or any wavelength, further improving the efficiency of the audio system. Additionally, stringent government regulations related to the protection of environment and rising adoption of energy-efficient technologies would support the miniaturization of electronic gadgets, among other new trends. Development in technologies and high disposable income of working population are also expected to contribute to the market growth. Therefore, growing trend of miniaturization would boost the demand for connected devices for application-based processors and subsystems, thereby driving the demand for Hi-Fi audio in commercial events, on-board media entertainment systems, and development of VR technology drives the growth of audio IC and audio amplifier market.Impact of COVID-19 Pandemic on Audio IC and Audio Amplifier Market
The COVID-19 pandemic has disturbed the 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 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 halt in business operations in last few months, decline in production of various components, as well as restrictions on supply chain. However, the market has started regaining pace since 2021, with the demand- and supply-sides resuming their operations.
Lucrative Regions in Audio IC and Audio Amplifier Market
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Market Insights– Audio IC and Audio Amplifier Market
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 Type-Based Insights
Based on audio IC type, the audio IC and audio amplifier market is further segmented into A/D converter IC, processor IC, amplifier IC, D/A converter IC, and others. The compact amplifier IC segment held the largest market share in 2020.
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Audio IC and Audio Amplifier Market: Strategic Insights
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 2021 to 2028 Forecast Period 2020 - 2028 Base Year 2020
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Audio IC and Audio Amplifier Market: Strategic Insights
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 2021 to 2028 |
Forecast Period | 2020 - 2028 |
Base Year | 2020 |
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Speak to AnalystPlayers operating in the audio IC and audio amplifier market are mainly focused on the development of advanced and efficient products.
- 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).
The audio IC and audio amplifier market has been segmented as follows:
Audio IC and Audio Amplifier Market – by Audio Type
- A/D converter IC
- Processor IC
- Amplifier IC
- D/A converter IC
- Others
Audio IC and Audio Amplifier Market – by Audio Amplifier Class
- Class A/B
- Class D
- Class G
- Class H
Audio IC and Audio Amplifier Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- South Korea
- Thailand
- Rest of APAC
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of SAM
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The audio IC and audio amplifiers have been in use for several years worldwide, however, the technology has been experiencing immense demand in recent years. The noteworthy increasing adoption of consumer electronics and growing popularity of AI-based smart speaker is supporting the growth of audio IC and audio amplifier market.
Increasing emergence of 5G technology in audio devices and increasing penetration of IoT based technologies of is the key opportunity for the audio IC and audio amplifier market. The 5G technology is likely to ease the efficiency of audio signal transmission over internet (i.e., AoIP); moreover, it would help reduce the sound latency and will allow 200 times higher bandwidths compared to commercial mobile radio infrastructure. The rising penetration of the 5G technology in smartphones would provide major opportunities for the audio IC and audio amplifier market players
The global audio IC and audio amplifier market was dominated by amplifier IC segment with market share more than 30% in 2020. Audio amplifier ICs are the device used in electronic circuits for audio applications for compact & energy-efficient audio ICs and increasing demand of the integrated power for application-based processors & subsystems due to increase in miniaturization.
In 2020, Asia Pacific led the market with a substantial revenue share, followed by North America, and Europe. Asia Pacific is a prospective market for audio IC and audio amplifier market players.
The major companies in audio IC and audio amplifier includes Cirrus Logic Inc., STMicroelectronics N.V., NXP Semiconductor, Texas Instruments, and Maxim Integrated. The ranking has been derived analysing multiple parameters such as annual revenue earned from audio IC and audio amplifier portfolio, client base, geographic locations, R&D expenditure, brand image, and number of employees, among others. These companies are actively participating in developing audio IC and audio amplifier for various applications.
The List of Companies - Audio IC and Audio Amplifiers Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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