Pune, India, April 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Audio IC Market.
Global Audio IC Market 2020 was estimated at 6.31 Billion in 2018 and is poised to reach USD 52 Billion by the year 2030, according to the report found by Market Research Future. The report also states that the market is set to grow at a rate of 7.30 % during the forecast period (2022–2030).
Top Impacting Factors
The foremost driver motivating the global audio driver IC market 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.
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 driver IC market. 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.
Segmentation of Market: Audio Driver IC
The global Audio IC market has been segmented among various segments, such as type and application.
Depending on type segment, the audio IC market has included audio DSPs, audio converters (audio ADC, audio DAC, others), audio amplifiers (volume control IC, audio line drivers and receivers, speaker amplifier), microphone preamplifiers, audio processors, and others.
Depending on the application segment, the audio IC market has included professional audio, automotive audio, smart and portable devices, smart home, and more.
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Globally, the audio IC market has been studied among the regions of Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Among these, the North America region is leading the audio IC market owing to the mounting advancement in technology and ever-increasing demand for consumer electronics devices such as computers, smartphones, and more. The US has grabbed the most significant share for the audio IC market in North America owing to the surged adoption of audio ICs in the automotive and consumer electronics industries.
Moreover, the existence of various manufacturers of audio ICs such as Texas Instruments and Analog Devices play a critical role in the escalation of the market. Apart from that, risen investments made by various US-based companies in the automotive industry in Mexico are likely to stimulate the demand for audio ICs over the forecast period.
Top Market 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.