Allied Market Research, titled, “Speaker amplifier market Size by power and end use: opportunity analysis and industry forecast, 2019-2027″, the global speaker amplifier market size was valued at $3.73 Billion in 2019, and is projected to reach $5.80 Billion by 2027, registering a CAGR of 7.6%. North America is expected to be the leading contributor to the global speaker amplifier market during the forecast period, followed by Asia-Pacific and Europe.
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A speaker amplifier is a device that transforms low-voltage signals from source equipment to a signal with sufficient power to be used in speakers. It is mostly used in sound systems such as musical instruments, home audio systems, talking toys, robots, and loudspeakers, along with sound reinforcement. Amplifiers allow increased vibrations to the maximum extent of signals without affecting wavelength or frequency, and help improve the efficiency of a system. Speaker amplifiers are also used in wireless communication as well as broadcasting.
The features of speaker amplifiers support inbuilt applications across various products such as portable devices and vehicle & home audio systems.
The global speaker amplifier market is anticipated to witness significant growth during the period of the forecast period, owing to a surge in demand for consumer electronics and growth in the installation of high-performance infotainment systems in automobiles. In addition, consumers around the globe prefer devices that are portable, easy to carry, and have features such as low power consumption, high speed, and greater accuracy, which propels manufacturers to focus and come up with advanced features for speaker amplifiers that are supported in handheld devices such as MP3 and portable docking stations. Moreover, the increase in demand for audio systems in public and private events across the globe also fuels the growth of the market. However, technical faults and issues associated with the integration of audio devices are a major restraint for the speaker amplifier market growth.
Moreover, the rise in the adoption of IoT technology in media & infotainment systems is expected to create opportunities for the speaker amplifier industry. In addition, an increase in research and development to provide enhanced features in speaker amplifiers is expected to be opportunistic for market growth.
The global speaker amplifier market is segmented into power, end-use, and region. By power, the market is segmented into low-power (less than 5W) and mid-power (5W to 25W). The end-user segment is divided into computers, phones, tablets, over-ear headphones, TWS, home entertainment, commercial, automotive, portable, smart home, IoT, wearable, and AR/VR. Region-wise, the speaker amplifier market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed the maximum revenue in 2019. However, between 2019 and 2027, the speaker amplifier market in Asia-Pacific is expected to grow at a faster rate compared to other regions.
According to the speaker amplifier market analysis, COVID-19 has severely impacted the electronics sector as production facilities have been shut down, and there is significant demand in various industries. Moreover, operations of production and manufacturing industries have also been impacted heavily by the outbreak of the COVID-19 disease, which has led to restricted growth of the speaker amplifier market in 2020.
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Key Findings Of The Study
- The less than 5W segment is projected to witness a dominant share over the forecast period.
- The phone segment is anticipated to witness the highest growth rate of approximately. 8.0 % CAGR during the forecast period.
- Asia-Pacific collectively accounted for more than 35.0% of the speaker amplifier market share in 2019.
The Speaker Amplifier Market key players profiled in the report include:
Cirrus, Maxim, ROHM, NXP Semiconductors, ADI, STMicroelectronics, Silicon Labs, ICE Power, ON Semiconductors, Monolithic Power Systems, and Infineon. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.
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