The Asia Pacific Audio IC Market would witness market growth of 7.5% CAGR during the forecast period (2021-2027). With the compact design of smartphone processors and the effective integration of the processing offerings and graphics, audio functions are shifting towards combination in an audio hub device.
These integrated audio gadgets implemented in various inputs/outputs & functions, which allows designers to remove the requirement for additional components. The latest high-performance audio ICs are tackling the issues of incorporating audio functionality and improved sound quality into modern-day devices. The audio ICs are providing a wide range of productivity and individual entertainment usages and also curbing power consumption issues along with providing long battery life. Thus, the usage of audio ICs to tackle the challenges of modern devices is estimated to fuel the growth of the market during the forecast years.
There are many manufacturers of audio ICs, which are focusing on the development of more advanced, compact, energy-efficient and cost-efficient gadgets in order to use them at commercial places and households. This will increase the growth of the audio ICs market during the forecast period. The booming audio IC market is attracting more companies to allocate funds in this market and thus, fueling the growth of the audio IC market. The growing trend of investing in the self-driving autonomous car that needs the implementation of the onboard computer with digital audio IC is estimated to fuel the growth of the digital audio IC market over the forecast period. In addition, the increasing interest of people in the wearable device offered by Apple and Google will accelerate the demand for audio IC due to the integration of audio technology. All these aspects are anticipated to propel the growth of the audio IC market during the forecast period.
The Mobile Phones market dominated the India Audio IC Market by Application 2020, thereby, achieving a market value of $443.3 million by 2027. The Smart Home & IoT devices market is anticipated a CAGR of 9.6% during (2021 - 2027). The Computer & Tablets market is experiencing a CAGR of 7.2% during (2021 - 2027). Additionally, The Automotive market is poised to witness a CAGR of 10.2% during (2021 - 2027).
Based on IC Type, the market is segmented into Audio Amplifier, Audio DSP, Audio Codecs and Microphone IC. Based on Application, the market is segmented into Mobile Phones, Smart Home & IoT devices, Computer & Tablets, Automotive, Headphones, Home Entertainment Systems, Wearables and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Audio IC Market is Projected to reach USD 45.2 Billion by 2027, at a CAGR of 7.4%
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.
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