Audio IC Market worth USD 51.5 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Audio IC Market by IC Type (Audio Amplifier, Audio DSP, Audio Codecs, and Microphone IC), by Application (Computer & Tablets, Phones, Headphones, Home Entertainment Systems, Automotive, Smart Home & IoT devices, Wearables, and Others), by Region – Global Share and Forecast to 2030".

The global audio IC market size is expected to grow from USD 29.8 billion in 2021 to USD 51.5 billion by 2030, at a CAGR of 7.1% during the forecast period. Factors such as a surge in demand for consumer electronics, the development of new energy-efficient audio devices with enhanced user experience, and the rise in penetration of wireless and smart infrastructure drive the growth of the audio IC market. In addition, the surge in demand for HiFi audio in commercial events propels the market's growth. However, the increase in demand for audio SoC and technological issues related to the integration of audio devices are the major restraints for the global audio IC industry. On the other hand, the rise in demand for on-board media entertainment systems and the development of VR technology is opportunistic for the market growth.

Global Audio IC Market Segmentation

The overall audio IC market has been segmented into the IC type, application, and region.

• By IC Type (Audio Amplifier, Audio DSP, Audio Codecs, and Microphone IC)
• By Application (Computer & Tablets, Phones, Headphones, Home Entertainment Systems, Automotive, Smart Home & IoT devices, Wearables, and Others)
• By Region (North America, Asia Pacific, Europe, South America, and the Middle East & Africa)

Mobile phones, by application, is estimated to hold the largest market share during the forecast period

Based on application, the global audio IC market is segregated into computer & tablets, phones, headphones, home entertainment systems, automotive, smart home & iot devices, wearables, and others. The mobile phones segment had the largest market share of 46.9% of the global audio IC market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. In mobile phones, output sound is pre-amplified; hence it can be directly provided to input of audio IC using a stereo jack. A filter circuit encompassing capacitors & resistors at the front end allows to filter audio, which has entered the amplifier to give clear sound.  

The rise in adoption of smartphones, along with a surge in the amount of content used in smartphones drives growth in demand for audio IC in phones. This is attributed to larger & brighter screens of smartphones and the ability to offer a better overall visual experience. Hence, there is an increase in the trend toward stereo audio in smartphones to keep up with visual experience.

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Asia Pacific accounts for the largest market share in the audio IC market in 2021

Based on the regions, the global audio IC market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 36.9% in the global audio IC market and was anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and South Korea observe considerable growth in the speaker amplifier market. This is attributed to the increase in consumer electronics devices' adoption, rise in consumers' disposable income in these countries, and extensive technological advancement.

Factors such as the rise in investments in automotive and consumer electronics industries drives growth of the Asia[1]Pacific audio IC market. In addition, car audio speakers and car amplifier providers in Asia-Pacific are constantly expanding their production facilities, which fuels the market growth.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the audio IC market. It also consists of the profiles of leading companies such as NXP Semiconductors, Maxim Integrated, STMicroelectronics, ROHM CO. LTD., Infineon, Analog Devices Inc., ON Semiconductors, Cirrus Logic, Texas Instruments, and Toshiba Corporation. These market players have focused on acquisitions and expansion to gain a larger market share in the audio IC market.

Browse complete report: https://www.marketstatsville.com/audio-ic-market

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