Industry Insight
Global Audio IC Market 2020 was estimated at 6.31 Billion in 2018 and is poised to reach USD 17.52 Billion by the year 2025, according to the report found by Market Research Future. The report also states that the market is set to grow at a rate of 16.1% during the forecast period (2016–2025).
Top Impacting Factors
The foremost driver motivating the global audio IC market growth is escalating penetration of audio driver IC in consumer electronics. With the augmented demand of televisions, smartphones, and home entertainment systems, the demand for audio driver IC is screening a positive growth trend, all over the world. The surged demand for compact and energy-efficient devices among consumers for both domestic and commercial use is also triggering market growth globally.
The usage of the digital audio system and digital audio IC has endorsed high-quality and room-filling sound. The audio IC has its benefits, unavoidably likely to transform the traditional audio platform from analog to digital, conclusively motivating to deliver growth of the global audio IC market during the foretell period. In fact, the rising demand for speakers, television, Smartphones, home entertainment, and other consumer electronics plausible to add to the global audio IC market growth parameters during the assessment period.
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Along with these factors, many manufacturers from all over the world are focusing on the development of compact, energy-efficient, and cost-effective devices for domestic and commercial usage anticipated to accelerate the growth of the global audio IC market in the forecast period. Additionally, the escalating trend of investment in a self driven autonomous car requires an onboard computer with digital audio IC, likely to spur the growth of the global digital audio IC market during the assessment period.
Despite these factors, some factors, such as the unavailability of raw materials of audio driver IC from the supplier side is posing as a significant factor hindering the growth of the global audio IC market growth. Also, the factor of the high cost of integration in commercial usage of amplifiers is creating a significant restraint of the global audio driver IC market. Augmented demand for customized amplifiers of sound systems in the entertainment industry and manufacturers are making them available, which is creating great opportunity in the overall audio driver IC market.
Segments:
The report is segmented into three dynamics;
By Type : Audio Amplifiers (Audio Line Drivers & Receivers, Volume Control IC, Speaker Amplifier, others), Audio DSPs, Audio Converters (Audio DAC, Audio ADC, others), Audio Processors, Microphone Preamplifiers, and others.
By Application: Automotive Audio, Professional Audio, Smart Home, Smart & Portable Devices, and others.
By Regions: Americas, Europe, APAC, and the Rest-of-the-World.
Region Analysis
North America dominates the global audio IC market. The largest market share is attributed to the rising technology advancement and increasing demand for consumer electronics devices such as computers, smartphones, and others. Besides, the increasing adoption of audio ICs in the automotive and consumer electronics industries drives the growth of the market. Moreover, the strong presence of notable audio IC manufacturers, such as Texas Instruments and Analog Devices, plays a crucial role in market development.
Increasing adoption and implementation of audio ICs across the industry verticals increase the audio IC market size. The US holds the key share in the regional market due to its rapidly growing audio IC market. Also, the proliferating automotive industry in the region fuels the demand for audio ICs. The North American audio IC market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global audio IC market. The market growth is driven by the presence of the well- established automotive and electronic industry in the region. Additionally, increased investments by audio amplifiers, DSPs, and converters companies substantiate the market demand Innovation in the ICT segment plays a significant role in the growth of the market.
Furthermore, substantial R&D investments by the existing industry players to drive product and technology developments fuel the regional market growth. Simultaneously, Substantial investments by notable automotive OEMs to incorporate smart & portable devices influence the growth of the regional market. The European audio IC market is estimated to create a substantial revenue pocket during the forecast period.
The Asia Pacific region holds a sizable share in the global audio IC market. Factors such as the rising technological upgrades and adoption of audio ICs across automotive and consumer electronics sectors foster the regional market growth. Moreover, the increasing advances in remote sensing technologies and the burgeoning automotive industry in the region propel the sales in the market.
Besides, spurring demand from the automotive sector in the region fuel the growth of the market. Furthermore, increased R&D activities and the rapid economic growth in the region fuel market growth. The APAC audio IC market is estimated to grow at a significant pace during the assessment period.
Key Players:
The top market players in the audio IC market are listed across all the significant regions are STMicroelectronics, Texas Instruments, Maxim Integrated, Analog Devices Inc, Cirrus Logic, THAT Corporation, Infineon, ams AG, New Japan Radio (NJR), Microchip, ON Semiconductor, NXP Semiconductor, ROHM Semiconductor, Renesas Electronics, and Tempo Semiconductor.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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