Global audio IC market
The global audio IC market is growing rapidly, witnessing the growing demand across end-user applications. Besides, the rising uses of audio ICs in automotive audio, professional audio, smart home, and intelligent & portable devices applications substantiate market growth. Reliable voice generation demand in automotive audio systems plays a major role in the development of the market, maintaining the safety of vehicle occupants and pedestrians.
Resultantly, the spurring growth in the automotive and consumer electronics industries escalates the demand in the market. According to Market Research Future (MRFR), the global Audio IC market is poised to create a valuation of USD 17.52 BN by 2025, growing at 16.1 CAGR throughout the forecast period (2019 – 2025).
The market was valued at USD 6.31 Billion in 2018. Over recent years, the increasing proliferation of Advanced Driver Assistance System (ADAS) and other safety systems designed to notify vehicle drivers about the operation and surrounding environment prompts auto manufacturers to develop efficient audio systems that utilize voice and sound effects to issue warnings and alerts.
Miniaturization of components, alongside the rapid developments in connected devices and IoT technology, has facilitated the integration of audio ICs in many industrial applications. These compact size components also offer greater assistance to transform analog to digital designs and provide improved flexibility with higher efficiency for consumer electronics and wearable devices.
The miniaturization of components that have increased the demand for integrated power for application-specific processors and subsystems boosts the market sales. Conversely, the high cost required for intricate audio IC design is the key factors projected to impede the market growth. Nevertheless, the rising need for low energy consumption high-performance solutions with high-power density would support the market growth throughout the assessment period.
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Global audio IC market Major Players:
Players leading the global audio IC market include STMicroelectronics, Texas Instruments, Analog Devices Inc, THAT Corporation, Maxim Integrated, Cirrus Logic, Infineon, AMS AG, Microchip, NXP Semiconductor, New Japan Radio (NJR), ON Semiconductor, ROHM Semiconductor, Renesas Electronics, and Tempo Semiconductor, among others.
Global Audio IC Market Segments
The report is segmented into three dynamics;
By Type : Audio Amplifiers (Audio Line Drivers & Receivers, Volume Control IC, Speaker Amplifier, others), Audio DSPs, Audio Converters (Audio DAC, Audio ADC, others), Audio Processors, Microphone Preamplifiers, and others.
By Application: Automotive Audio, Professional Audio, Smart Home, Smart & Portable Devices, and others.
By Regions : Americas, Europe, APAC, and the Rest-of-the-World.
Global Audio IC Market Regional Analysis
North America dominates the global audio IC market. The largest market share is attributed to the rising technology advancement and increasing demand for consumer electronics devices such as computers, smartphones, and others. Besides, the increasing adoption of audio ICs in the automotive and consumer electronics industries drives the growth of the market. Moreover, the strong presence of notable audio IC manufacturers, such as Texas Instruments and Analog Devices, plays a crucial role in market development.
Increasing adoption and implementation of audio ICs across the industry verticals increase the audio IC market size. The US holds the key share in the regional market due to its rapidly growing audio IC market. Also, the proliferating automotive industry in the region fuels the demand for audio ICs. The North American audio IC market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global audio IC market. The market growth is driven by the presence of the well- established automotive and electronic industry in the region. Additionally, increased investments by audio amplifiers, DSPs, and converters companies substantiate the market demand Innovation in the ICT segment plays a significant role in the growth of the market.
Furthermore, substantial R&D investments by the existing industry players to drive product and technology developments fuel the regional market growth. Simultaneously, Substantial investments by notable automotive OEMs to incorporate smart & portable devices influence the growth of the regional market. The European audio IC market is estimated to create a substantial revenue pocket during the forecast period.
The Asia Pacific region holds a sizable share in the global audio IC market. Factors such as the rising technological upgrades and adoption of audio ICs across automotive and consumer electronics sectors foster the regional market growth. Moreover, the increasing advances in remote sensing technologies and the burgeoning automotive industry in the region propel the sales in the market.
Besides, spurring demand from the automotive sector in the region fuel the growth of the market. Furthermore, increased R&D activities and the rapid economic growth in the region fuel market growth. The APAC audio IC market is estimated to grow at a significant pace during the assessment period.
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Global Audio IC Market Competitive Analysis
Highly competitive, the Audio IC market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, these players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/ technology launch.
Industry/ Innovation/ Related News
July 23, 2020 ----- Lapis Semiconductor Co. Ltd. (Japan), a leading manufacturer of semiconductor components, launched the automotive speech synthesis ICs and ML2253x series, optimized for audible notifications and sound effects in ADAS and AVAS (Acoustic Vehicle Alerting System).
LAPIS Semiconductor’s new product improves quality by detecting audio defects using a playback anomaly function and facilitates system configuration while simplifying the main MCU software design. This simplifies to detect playback anomalies such as skipping, contributing to further improvement in the quality of automotive audio output systems.
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