The Global Audio IC Market size is expected to reach $45.2 billion by 2027, rising at a market growth of 7.4% CAGR during the forecast period. Audio IC refers to a chip that performs function of an audio amplifier, audio processor, MEMS microphone, and subsystems. Audio DSPs, audio converters, audio amplifiers, and audio processors are some of the main types of audio ICs. Audio IC has considerable applications in professional audio, smart home, smart & portable gadgets and automotive audio. Some of the major catalysts for the development of the global market are the growing demand for smart home devices & the professional audio systems along with the requirement for compact & energy-efficient audio ICs.
The electronics sector across the globe is affected by the strict government rules & regulations related to the environment & energy efficiency that has resulted in numerous new developments like miniaturization & convergence of every daily-use electronic gadgets. The miniaturization of gadgets is done by acknowledging every input/output ports and different components in the manufacturing process that are important for the end-product. Due to miniaturization, the demand for integrated power for application-based processors & subsystems have increased significantly. It has helped in the integration of audio ICs in various industrial applications because of the increasing developments in connected devices & IoT technology.
With the outbreak of the global COVID-19 pandemic, many countries have imposed a nationwide lockdown and travel ban. The production process all over the world was also hampered due to the pandemic. The temporary shutdown of the manufacturing units has negatively impacted the growth of the audio IC market across the globe. The COVID-19 pandemic has affected every single individual and companies around the world and negatively impacted the global supply chain. This pandemic has created several uncertainties in the stock market, a huge decline in the supply chain, falling business confidence, and growing panic among consumers. Asian & European nations underwent lockdowns that have incurred a huge loss on business and revenue, majorly because of the shutdown of manufacturing units in this region. The process of production and manufacturing units has been majorly affected by the COVID-19 pandemic; thus, resulting in the declining growth of the Audio IC market.
Based on IC Type, the market is segmented into Audio Amplifier, Audio DSP, Audio Codecs and Microphone IC. The audio amplifier market segment is estimated to be the key IC type during the forecast period. The function of an amplifier is to accelerate the vibrations to the greatest limit of signals by not impacting frequency or any wavelength and assist in boosting the efficiency of a system. Additionally, a digital sound processor (DSP) is a dedicated microprocessor chip majorly utilized in audio signal processing, digital image processing, telecommunications, sonar & speech recognition systems, radar, and consumer electronics like mobile phones, disk drives, and high-definition television (HDTV) products.
Based on Application, the market is segmented into Mobile Phones, Smart Home & IoT devices, Computer & Tablets, Automotive, Headphones, Home Entertainment Systems, Wearables and Others. The Mobile Phone market segment is estimated to emerge as a leading segment during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 26.5 Billion |
| Market size forecast in 2027 | USD 45.2 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 7.4% from 2021 to 2027 |
| Number of Pages | 230 |
| Number of Tables | 324 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Analysis |
| Segments covered | IC Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Taiwan, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific region would emerge as a leading region in the audio IC market over the forecast period, due to the growing consumer electronics sector. Several nations in this region have a booming consumer electronics sector, with China manufacturing a vast number of mobile phones every year. Aspects like the adoption of audio ICs in automotive & commercial industries and the cost-efficiency of audio ICs will further surge the growth of the regional audio IC market during the forecast years.
Free Valuable Insights: Global Audio IC Market size to reach USD 45.2 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Texas Instruments, Inc. is the major forerunner in the Audio IC Market. Companies such as Analog Devices, Inc., Renesas Electronics Corporation, and STMicroelectronics N.V. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analog Devices, Inc., Infineon Technologies AG, Renesas Electronics Corporation, NXP Semiconductors N.V., ON Semiconductor Corporation, STMicroelectronics N.V., Texas Instruments, Inc., Toshiba Corporation, AMS AG, and Cirrus Logic, Inc.
By IC Type
By Application
By Geography
The audio IC market size is projected to reach USD 45.2 billion by 2027.
Audio ICs addressing the limitation of modern-day mobile devices are driving the market in coming years, however, The impact of the COVID-19 pandemic have limited the growth of the market.
Analog Devices, Inc., Infineon Technologies AG, Renesas Electronics Corporation, NXP Semiconductors N.V., ON Semiconductor Corporation, STMicroelectronics N.V., Texas Instruments, Inc., Toshiba Corporation, AMS AG, and Cirrus Logic, Inc.
The process of production and manufacturing units has been majorly affected by the COVID-19 pandemic; thus, resulting in the declining growth of the Audio IC market.
The Audio Amplifier market dominated the Global Audio IC Market by IC Type 2020, growing at a CAGR of 6.8% during the forecast period.
The Asia Pacific market dominated the Global Audio IC Market by Region 2020, growing at a CAGR of 7.5 % during the forecast period.
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