Audio IC Market is Predicted to Touch USD 17.52 Billion by 2025 at a 16.1% CAGR - Report by Market Research Future (MRFR)

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New York, US, July 06, 2021 (GLOBE NEWSWIRE) -- Audio IC Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Audio IC Market information by Type, by Application and Region – Forecast to 2027” the  market was valued at USD 6.31 Billion in 2018; it is expected to reach USD 17.52 Billion by 2025 at a CAGR of 16.1%.

Dominant Key Players on Audio IC Market Covered Are:

  • Texas Instruments
  • STMicroelectronics
  • Analog Devices Inc
  • Maxim Integrated
  • THAT Corporation
  • Cirrus Logic
  • ams AG
  • Infineon
  • Microchip
  • New Japan Radio (NJR)
  • NXP Semiconductor
  • ON Semiconductor
  • Renesas Electronics
  • ROHM Semiconductor
  • Tempo Semiconductor

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Market USP exclusively encompassed:
Market Drivers
Growing Adoption of Consumer Electronics to Boost Market Growth
The increasing adoption of consumer electronics devices coupled with the development of new energy efficient audio devices among consumers for both commercial and domestic use with enhanced user experience are boosting market growth. The augmented demand for home entertainment systems, smartphones, and televisions is boosting the need for audio driver IC.

Besides, the development of VR technology and demand for on-board media entertainment systems are also adding market growth.

Opportunities
Increasing Adoption of Smart Infrastructure to offer Robust Opportunities
Increasing adoption of smart and wireless infrastructure coupled with the surge in demand for Hi-Fi audio in commercial events to offer robust opportunities to the market over the forecast period.

Restraints
High Cost to Act as Market Restraint
The high cost of integration in commercial usage of amplifiers and the unavailability of raw materials of audio driver IC from the supplier side are likely to act as market restraints over the forecast period.

Challenges
Technical Faults to act as Market Challenge
Technical faults & issues associated with integration of audio devices and increased in demand for audio SOCs may act as market challenges over the forecast period.

Browse In-depth Market Research Report (111 Pages) on Audio IC: 
https://www.marketresearchfuture.com/reports/audio-ic-market-8624 

Segmentation of Market covered in the research:
The MRFR report throws light on an inclusive analysis of the global audio IC market based on application and type.

By type, the global audio IC market is segmented into microphone preamplifiers, audio processors, audio converters (audio DAC, audio ADC, and others), audio DSPs, audio amplifiers (speaker amplifier, audio line drivers and receivers, and volume control IC), and others.

By application, the global audio IC market is segmented into smart and portable devices, smart home, professional audio, automotive audio, and others.

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Regional Analysis
North America to Lead Audio IC Market
North America is predicted to lead the audio IC market over the forecast period. Rising advances in technology, growing demand for consumer electronics like computers, smartphones, and others, increasing adoption of audio ICs in the consumer electronics and automotive industries, the presence of various manufacturers of audio ICs like Analog Devices and Texas Instruments, and increased investments made by different US-based companies in the automotive industry in Mexico are adding to the global audio IC market growth in the region. The US holds the utmost market share.

APAC to Have Healthy Growth in Audio IC Market
The APAC region is predicted to have healthy growth in the market over the forecast period. Rise in adoption of consumer electronics, increase in disposable income of consumers across developing countries in the region, and extensive technological advancements are adding to the global audio IC market growth in the region. China and India holds the utmost market share for the surge in manufacturing capacity of consumer electronics.

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COVID-19 Impact on the Global Audio IC Market
The COVID-19 pandemic had an adverse effect on the global audio IC market. The electronics industry has been profoundly affected by the pandemic. The spread of this virus has resulted to lockdowns to stop the spread the virus. The slowdown in the production of smart home devices due to the temporary closure of manufacturing facilities has decreased the use of audio ICs that in turn is impeding the market growth. Companies like STMicroelectronics, NXP Semiconductors, and Texas Instruments Incorporated offer a huge variety of audio ICs for use in different consumer electronics devices and wearable. But the halt in the production of computers, laptops, tablets, and smartphones that are used for controlling smart devices and appliances that are installed in smart homes has affected the smart homes market that is hindering the market growth.

Companies that are operating in the audio IC and audio amplifiers market were hit hard due to the adverse impacts of the outbreak, with the biggest difficulty being the supply chain management. To manage production with shortages in supply as well as man force has limited the profitability of the companies in the year 2020. On the other hand, the growing trends of online education and online work coupled with exponential development of the e-commerce industry are facilitating companies in regaining their market.

Impact of COVID-19 on the Audio ICs Market:
https://www.marketresearchfuture.com/report/covid-19-impact-audio-ic-market

Industry News
Sony Electronics Inc. has launched XAV-9500ES- the Mobile ES lineup’s first ever in-car media receiver with high-res audio capabilities. It also has a select audio IC that offers less noise and less distortion which will allow customers to enjoy tight bass, smooth highs, wide dynamic range as well as more accurate sound stage.

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