Audio Amplifier Market to Reach $7 Billion, Globally, by 2032 at 5.2% CAGR: Allied Market Research
Tuesday, July 11, 2023
The audio amplifier market is driven by factors such as an increase in demand for high-quality audio output, growing traction of in-vehicle infotainment systems, and increase in popularity of consumer electronic devices
PORTLAND, Ore., July 3, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Audio Amplifier Market by Class (A, B, A/B, D, Others), By Channel (Mono, 2-Channel, 4-Channel, Others), By End Use Device (Smartphones, Television Sets, Desktops and Laptops, Automotive Infotainment Systems, Tablets, Home Audio Systems, Professional Audio Systems): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global audio amplifier industry generated $4.2 billion in 2022, and is projected to reach $7 billion by 2032, registering a CAGR of 5.2% from 2023 to 2032.
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Prime determinants of growth
The audio amplifier market is anticipated to expand significantly during the forecast period owing to an increase in demand for high-quality audio output. In addition, the growing traction of in-vehicle infotainment systems of audio amplifier devices fuels the market growth. Additionally, the audio amplifier is anticipated to benefit owing to the increase in the penetration of IoT and is expected to present enormous opportunities for the market over the forecast period. On the other hand, integration of audio amplification in consumer electronic devices is anticipated to restrain the market growth during the forecast period.
Report Coverage & Details:
Report Coverage
Details
Forecast Period
2022-2032
Base Year 2022
Market Size in 2022
$4.2 billion
Market Size in 2032
$7 billion
CAGR 5.2 %
No. of Pages in Report 325
Segments covered Class, Channel, End Use Device, and Region.
Drivers Increase in demand for high-quality audio
output
Growing traction of in-vehicle
infotainment systems
Increase in popularity of consumer
electronic devices
Opportunities
Increase in the penetration of IoT
Increase in popularity of audio-centric
applications
Restraints Competition from other technologies
COVID-19 Scenario
-- COVID-19's impact on the audio amplifier market was negative because the
consumer electronics industry had been severely harmed and supply chain
were disrupted.
-- Social distancing norms led to unavailability of labor at the workplace.
Many companies adopted for work-from-home.
The D class segment to maintain its leadership status throughout the forecast period.
Based on class, the D class segment held the highest market share in 2022, accounting for around two-fifths of the global audio amplifier market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to their high-power efficiency and compact size. Moreover, the D class segment is projected to manifest the highest CAGR of 6.04% from 2023 to 2032, driven by the proliferation of smart home devices and Internet of Things (IoT) technology. In addition, D class amplifiers are integrated into various smart home devices such as voice-activated speakers, smart TVs, and home automation systems, providing efficient amplification with minimal heat generation.
The 2-Channel segment to maintain its leadership status throughout the forecast period.
Based on channel, the 2-Channel segment held the highest market share in 2022, accounting for more than one-third of the global audio amplifier market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the 2-Channel segment is projected to manifest the highest CAGR of 6.27% from 2023 to 2032 due to the demand for premium audio systems and specialized installations in residential and commercial spaces. These trends and growth factors present significant opportunities for audio amplifier providers in the 2-channel segment.
The smartphones segment to maintain its leadership status throughout the forecast period.
Based on end use device, the smartphones segment held the highest market share in 2022, accounting for around one-third of the global audio amplifier market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to advanced audio technologies such as enhanced digital-to-analog converters (DACs), dedicated audio amplifiers, and powerful signal processing algorithms. In addition, the home audio systems segment is projected to manifest the highest CAGR of 7.22% from 2023 to 2032 due to greater emphasis on energy-efficient and sustainable audio solutions. Moreover, there are future opportunities for audio amplifier manufacturers to develop energy-efficient amplifiers with advanced power management systems, reducing standby power usage, and eco-friendly production techniques. These factors collectively create a strong demand for audio amplifiers in the audio amplifier market.
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Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global audio amplifier market revenue. This region is expected to witness the fastest CAGR of 5.93% from 2023 to 2032, owing to rise in investments in consumer electronics and automotive industries which are fueling the growth of the market in this region.
Leading Market Players: -
-- Analog Devices, Inc.
-- Cirrus Logic, Inc.
-- Infineon Technologies AG
-- JVCKENWOOD Corporation
-- NXP Semiconductors.
-- ON Semiconductor Corporation
-- Qualcomm Technologies, Inc
-- STMicroelectronics N.V.
-- Texas Instruments Incorporated.
-- Yamaha Corporation
The report provides a detailed analysis of these key players of the global audio amplifier market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
-- This report provides a quantitative analysis of the market segments,
current trends, estimations, and dynamics of the audio amplifier market
analysis from 2022 to 2032 to identify the prevailing audio amplifier
market opportunity.
-- The market research is offered along with information related to key
drivers, restraints, and opportunities.
-- Porter's five forces analysis highlights the potency of buyers and
suppliers to enable stakeholders make profit-oriented business decisions
and strengthen their supplier-buyer network.
-- In-depth analysis of the audio amplifier market segmentation assists to
determine the prevailing market opportunities.
-- Major countries in each region are mapped according to their revenue
contribution to the global market.
-- Market player positioning facilitates benchmarking and provides a clear
understanding of the present position of the market players.
-- The report includes the analysis of the regional as well as global audio
amplifier market trends, key players, market segments, application
areas, and market growth strategies.
Audio Amplifier Market Key Segments:
By End use Device
-- Smartphones
-- Television Sets
-- Desktops and Laptops
-- Automotive Infotainment Systems
-- Tablets
-- Home Audio Systems
-- Professional Audio Systems
By Class
-- A
-- B
-- A/B
-- D
-- others
By Channel
-- Mono
-- 2-Channel
-- 4-Channel
-- Others
By Region
-- North America (U.S., Canada, Mexico)
-- Europe (Germany, France, UK, Rest of Europe)
-- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific)
-- LAMEA (Latin America, Middle East, Africa)
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/audio-amplifier-market/purchase-options
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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