The audio amplifier market is projected to grow at a significant rate during the forecast period. Major factors driving the growth of the market include rising demand for energy-efficient technologies in portable audio devices, increasing popularity of consumer electronic devices across the globe, growing traction of in-vehicle infotainment systems, and increasing demand for high-quality audio output.
The home audio systems segment is estimated to account for the largest share of the audio amplifier market in 2019. The growing use of smartphones to stream music to smart speakers is also driving the demand for audio amplifiers. The growing demand for portable devices such as smart speakers, soundbars, and headphones used in home audio systems has led to increased use of Class D architecture amplifiers as they dissipate less heat and offer extended battery life.
The audio amplifier market for entertainment is projected to grow at the highest CAGR during the forecast period. The rising tendency of increased expenditures on global festivals and music concerts is expected to propel the requirement for professional audio equipment that use audio amplifiers. The launch of new models of audio equipment and a significant rise in the popularity of digital equipment are factors driving the demand for professional audio equipment.
Asia Pacific is estimated to account for the largest share of the audio amplifier market in 2019. Increased investments in consumer electronics and automotive industries in the Asia Pacific are fueling the growth of the market in this region. Moreover, Asia Pacific is also home to some of the major consumer electronics companies, including Samsung, Panasonic, Toshiba, and LG Electronics. This leads to an increased demand for audio amplifiers in the region.
Key market players operating in the audio amplifier market are STMicroelectronics (Netherlands), Texas Instruments (US), NXP Semiconductors (Netherlands), Maxim Integrated Product Inc. (US), Analog Devices (US), Cirrus Logic (US), Toshiba Electronic Devices & Storage Corporation (Japan), Infineon Technologies (Germany), ON Semiconductor Corp. (US), Qualcomm Incorporated (US), ROHM Semiconductor (Japan), Monolithic Power Systems Inc. (US), Silicon Laboratories Inc. (US), ICEPower A/S (Denmark), Nuvoton (Taiwan), Tempo Semiconductor (US), Renesas Electronics (Japan), Dialog Semiconductors (UK), Integrated Silicon Solutions Inc. (US), and Dioo Microcircuits (China).
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