$27+ Billion Audio IC Global Market to 2027 – Opportunity Analysis and Industry Forecasts – ResearchAndMarkets.com | Financial Buzz

$27+ Billion Audio IC Global Market to 2027 – Opportunity Analysis and Industry Forecasts – ResearchAndMarkets.com

The “Audio IC Market By IC Type and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.

The global audio IC market size was valued at $27.72 Billion in 2019, and is projected to reach $45.57 Billion by 2027, to register a CAGR of 7.09% from 2020 to 2027.

Audio IC is an electronic device, which is used in audio processors, MEMS microphones, audio amplifiers, and subsystems. Various types of audio ICs include audio amplifiers, audio converters, audio DSPs, and audio processors. Audio amplifiers are used in sound systems such as home audio systems, musical instruments systems, loudspeakers, and sound reinforcement.

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.

Increase in adoption of consumer electronics devices and development of new energy efficient audio devices with enhanced user experience drives growth of the audio IC market. 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 audio IC industry.

The global audio IC market is segmented on the basis of IC type, application, and region. By IC type, the market is segmented into audio amplifier, audio DSP, audio codecs, and microphone IC. The application segment is divided into computer & tablets, phones, headphones, home entertainment systems, automotive, smart home & IoT devices, and wearables. Region wise, the audio IC market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Market Dynamics

Drivers

  • Increased adoption of consumer electronics devices
  • Development of new energy efficient audio devices with enhanced user experience
  • Rising penetration of wireless and smart infrastructure
  • Surge in demand for HiFi audio in commercial events

Restraint

  • Increase in demand for Audio SoC
  • Technological issues related with integration of audio devices

Opportunities

  • Rise in demand for on-board media entertainment systems
  • Development of VR technology

Key Market Players

  • Analog Devices Inc.
  • Cirrus Logic
  • NXP Semiconductors
  • STMicroelectronics
  • Maxim Integrated
  • ROHM CO. Ltd.
  • Texas Instruments
  • ON Semiconductors
  • Toshiba Corporation
  • Infineon

For more information about this report visit https://www.researchandmarkets.com/r/qqay5g

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