Audio IC Market: Massive Revenue Growth Strikes of $45.57 billion by 2027 at 7.09% CAGR

Audio IC Market By IC Type (Audio Amplifier, Audio DSP, Audio Codecs, and Microphone IC) and Application (Computer & Tablets, Phones, Headphones, Home Entertainment Systems, Automotive, Smart Home & IoT Devices, and Wearables): Global Opportunity Analysis and Industry Forecast, 2020-2027.

The global Audio IC market size was valued at $27.72 billion in 2019, and is projected to reach $45.57 billion by 2027, registering a CAGR of 7.09%. Asia-Pacific region is expected to be the leading contributor to the global audio IC market during the forecast period, followed by North America and Europe.

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The purpose of an amplifier is to increase vibrations to the maximum extent of signals without affecting frequency or any wavelength, and help improve efficiency of a system. In addition, a digital sound processor (DSP) is a specialized microprocessor chip widely used in audio signal processing, telecommunications, digital image processing, radar, sonar and speech recognition systems, and consumer electronic devices such as mobile phones, disk drives, and high-definition television (HDTV) products.

The global audio IC market is anticipated to witness significant growth during period forecast period. Increase in adoption of consumer electronics devices and development of new energy efficient audio devices with enhanced user experience drives the Audio IC market growth. In addition, rise in penetration of wireless and smart infrastructure and surge in demand for Hi-Fi audio in commercial events fuel growth of the market. However, increase in demand for audio SoCs and technical faults and issues associated with integration of audio devices is a major restraint for the global audio IC industry. Furthermore, rise in demand for on-board media entertainment systems and development of VR technology is expected to create opportunities for the global market.

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.

In Asia-Pacific, China and India remain significant participants in the global audio IC market analysis, owing to surge in manufacturing capacity of consumer electronics in these countries. In addition, North America holds the second largest share in the global market, and is expected to witness significant growth during the forecast period, owing to presence of significant number of market players in the region.

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The key players profiled in the report include Analog Devices, Inc., Cirrus Logic, NXP Semiconductors, STMicroelectronics, Maxim Integrated, ROHM CO., LTD., Texas Instruments, ON Semiconductors, Toshiba Corporation, and Infineon. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.

Key Findings of the Study
• The audio amplifier segment is projected to be the major IC type over the forecast period followed by audio DSP.
• Asia-Pacific and North America collectively accounted for more than 68.60% of the audio IC market share in 2019.
• Asia-Pacific is anticipated to witness highest growth rate during the forecast period.
• China was the major shareholder in the Asia-Pacific audio IC market, accounting for approximately 41.80% share in 2019.

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