“The audio amplifier market is projected to grow at a CAGR of 5.6% from 2019 to 2024.”
The audio amplifier market is projected to grow from USD 3.4 billion in 2019 to USD 4.4 billion by 2024, at a CAGR of 5.6% from 2019 to 2024. Major factors driving the growth of the audio amplifier market include the increasing popularity of consumer electronic devices across the globe, rising demand for energy-efficient technologies in portable audio devices, growing traction of in-vehicle infotainment systems, and increasing demand for high-quality audio output.
“The audio amplifier market for home audio systems is projected to grow at the highest CAGR during the forecast period.”
Different types of audio amplifiers such as Class A, Class B, and Class AB are used in home audio systems. The growing demand for portable devices such as smart speakers, soundbars, and headphones used in home audio systems has led to increased use of Class D architecture amplifiers as they dissipate less heat and offer extended battery life. The growing use of smartphones to stream music to smart speakers is also fueling the demand for audio amplifiers. Moreover, these devices also offer extended functionalities for live streaming of music and news, setting alarms, and ordering household supplies. Thus, the increased demand for home audio systems is contributing to the growth of audio amplifier market across the globe.
“The six channel segment is projected to lead the audio amplifier market from 2019 to 2024.”
Six channel audio amplifiers are capable of handling six speakers at a time. These amplifiers can also be bridged to three channel audio amplifiers to offer the same high-level performance but at an increased power level. Six channel audio amplifiers are used in applications wherein a large area has to be covered. These amplifiers are used commonly in large vehicles such as vans, SUVs, and boats as well as large area rooms.
“The audio amplifier market in Asia Pacific is projected to grow at the highest CAGR during the forecast period.”
Increasing investments in consumer electronics and automotive industries in Asia Pacific are fueling the growth of the audio amplifier market in this region. Moreover, Asia Pacific is home to some of the major consumer electronics companies, including Samsung, Panasonic, Toshiba, and LG Electronics, which leads to increased demand for audio amplifiers in the region.
Break-up of the profiles of primary participants is as follows:
- By Company Type: Tier 1 – 18%, Tier 2 – 22%, and Tier 3 – 60%
- By Designation: C-level Executives – 21%, Directors – 35%, and Others – 44%
- By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, and RoW –5%
STMicroelectronics (Netherlands), Texas Instruments (US), NXP Semiconductors (Netherlands), Maxim Integrated Product Inc. (US), Analog Devices (US), Cirrus Logic (US), Toshiba Electronic Devices & Storage Corporation (Japan), Infineon Technologies (Germany), ON Semiconductor Corp. (US), Qualcomm Incorporated (US), ROHM Semiconductor (Japan), Monolithic Power Systems Inc. (US), Silicon Laboratories Inc. (US), ICEPower A/S (Denmark), Nuvoton (Taiwan), Tempo Semiconductor (US), Renesas Electronics (Japan), Dialog Semiconductors (UK), Integrated Silicon Solutions Inc. (US), and Dioo Microcircuits (China) are leading players in the audio amplifier market.
- This research report segments the audio amplifier market based on channel type, device, end-user industry, and region.
- The report discusses major drivers, restraints, challenges, and opportunities pertaining to the audio amplifier market as well as its value chain.
- The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key growth strategies adopted by them.
Key Benefits of Buying the Report
- The report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall audio amplifier market and its segments.
- This report is also expected to help stakeholders understand the competitive landscape of the market and gain insights to enhance the position of their businesses and plan suitable go-to-market strategies.
- The report also helps them understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.