Published Date: 26-May-2021
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According to a new report Global Audio IC Market, published by KBV research, 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.
Some of the factors such as the rising adoption of consumer electronic devices and the production of the latest energy-efficient audio gadgets with improved customer experience are directly proportional to the growth of the audio IC market. Additionally, the increasing adoption of wireless & smart infrastructure along with the growing demand for Hi-Fi audio at commercial events are expected to augment the growth of the audio IC market. Though, rising demand for the audio system on chip (SoC) and technical glitches & challenges related to the integration of audio gadgets are some of the major restraints for the audio IC market. However, the advancement of VR technology and increasing demand for on board media entertainment systems are estimated to open new growth avenues for 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 Audio DSP market is experiencing a CAGR of 7.6% during (2021 - 2027). Additionally, The Audio Codecs market is estimated to grow at the highest CAGR of 8.2% during (2021 - 2027).
The Mobile Phones market dominated the Global Audio IC Market by Application 2020, and would continue to be a dominant market till 2027. The Smart Home & IoT devices market is expected to witness a CAGR of 8.6% during (2021 - 2027). The Computer & Tablets market is showcasing a CAGR of 6.2% during (2021 - 2027). Additionally, The Automotive market is poised to witness a CAGR of 9.2% during (2021 - 2027).
The Asia Pacific market dominated the Global Audio IC Market by Region 2020, growing at a CAGR of 7.5 % during the forecast period. The Europe market is poised to grow at a CAGR of 7% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 7.2% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/audio-ic-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
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