According to the report published by Allied Market Research, the global audio IC market generated $27.72 billion in 2019, and is expected to generate $45.57 billion by 2027, witnessing a CAGR of 7.09% from 2020 to 2027. The report provides an extensive analysis of changing market dynamics, key segments, value chain, top investment pockets, regional landscape, and competitive scenario.
Rise in adoption of consumer electronics devices, development of innovative energy-efficient audio devices for enhanced user experience, and surge in implementation of wireless and smart infrastructure drive the growth of the global audio IC market. However, rise in demand for audio system on chip (SoC) and technical faults and issues regarding integration of audio devices restrain the market growth. Contrarily, demand for on-board media entertainment systems and advancement in VR technology is projected to present new opportunities in the next few years.
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Covid-19 Scenario:
- Production activities of audio ICs have been hampered due to lockdown implemented in different countries. In addition, challenges such as lack of workforce and supply chain disruptions occurred. Companies operating in Asia-Pacific and European regions suffered a major loss.
- The demand for audio ICs from application industries such as automotive, headphones, smart homes, and others reduced significantly due to stoppage of daily production activities.
- During the post-lockdown, production processes for audio ICs are expected to get back on track. In addition, the demand would grow steadily as operations in application industries begin.
The report offers detailed segmentation of the global audio IC market based on IC type, application, and region.
Based on IC type, the audio DSP segment contributed to the highest share in 2019, holding more than two-fifths of the total share, and is projected to maintain its leadership status during the forecast period. However, the audio codecs segment is expected to grow at the highest CAGR of 8.8% from 2020 to 2027.
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Based on application, the mobile phones segment accounted for the highest market share in 2019, contributing to nearly half of the global audio IC market, and is projected to maintain its lead position during the forecast period. However, the smart home & IoT devices segment is expected to witness the largest CAGR of 9.2% from 2020 to 2027.
Based on region, Asia-Pacific contributed to the highest share in 2019, holding more than one-third of the total market share, and is projected to maintain its dominance in terms of revenue during the forecast period. In addition, this region is estimated to portray the fastest CAGR of 8.0% from 2020 to 2027.
Competitive Analysis
Competitive analysis and profiles of the major market players which dominates global audio IC market share such as Analog Devices Inc., Cirrus Logic, NXP Semiconductors, STMicroelectronics, Maxim Integrated, ROHM CO. LTD., Texas Instruments, ON Semiconductors, Toshiba Corporation, and Infineon. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global audio IC market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall audio IC market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current audio IC market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the audio IC market share of key vendors.
- The report includes the market trends and the market share of key vendors.
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Audio IC Market Key Segments
By IC Type
- Audio Amplifier
- Audio DSP
- Audio Codecs
- Microphone IC
By Application
- Computer & Tablets
- Phones
- Headphones
- Home Entertainment Systems
- Automotive
- Smart Home & IoT devices
- Wearables
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Sweden
- France
- Germany
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Analog Devices Inc.
- Cirrus Logic
- NXP Semiconductors
- STMicroelectronics
- Maxim Integrated
- ROHM CO. LTD.
- Texas Instruments
- ON Semiconductors
- Toshiba Corporation
- Infineon
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