Audio Amplifier Market Insights
The Audio Amplifiers Market was estimated at USD 5 billion in 2022. According to projections, the market for audio amplifiers will increase from USD 5.3 billion in 2023 to USD 9.19 billion by 2032, with a compound annual growth rate (CAGR) of 7% throughout the forecast period (2023-2032). The primary market factors influencing market growth and expansion are rising customer demand for smart devices as well as increased use of IoT and in-car entertainment systems.
Furthermore, compared to conventional home cinema systems, wireless speakers take up less space. In the upcoming years, it is anticipated that the use of speaker systems with artificial intelligence will grow quickly due to the proliferation of smart home gadgets. Important industrial players are also concentrating on expanding their company divisions internationally.
The recently unveiled technology also includes Dolby Atmos for a 3-D audio experience. In the television industry, audio amplifier sales are also booming. It is anticipated that the worldwide television market would soon expand. This is a result of rising demand for smart TVs in developing countries like Asia Pacific. Price reductions in a variety of consumer electrical product categories, including televisions, are driven by fierce competition and technical innovation. This could accelerate the market's growth in the upcoming years. Additionally, it is anticipated that due to the digital transformation of the broadcasting business and the rising global adoption of the internet, market growth would pick up speed throughout the anticipated period. The audio amplifier market is expected to expand as a result.
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Key Companies in the Audio Amplifier market include.
- STMicroelectronics
- Texas Instruments
- NXP Semiconductors
- Analog Devices
- Cirrus Logic
- Toshiba Corporation
- Kenwood Corporation
- Toshiba Corporation
- Infineon Technologies
- ON Semiconductor Corp.
- Qualcomm Incorporated
- ROHM Semiconductor
- Monolithic Power Systems, Inc
- Harman International Industries
Segmentation
The Mono Channel, Two Channel, Four Channel, Six Channel, and Others market segments are based on channel type. With 48% of market revenue (USD 2.4 Billion) coming from the two-channel category, the market was dominated in 2022.
Smartphones, television sets, home audio systems, desktop computers, laptops, tablets, automotive infotainment systems, professional audio systems, and others are included in the applications-based segmentation of the audio amplifier market. The market revenue for home audio systems was the greatest in 2022, coming in at around 32% (or USD 1.6 billion).
The class-based segments of the audio amplifier market include A, B, A/B, D, and Others. By accounting for 39% of market sales (USD 1.95 billion) in 2022, the D segment led the market.
Consumer Electronics, Automotive, Military & Defence, Entertainment, and Others are among the end-user categories included in the segmentation of the audio amplifier market. With 43% of market revenue (USD 2.2 billion) coming from the consumer electronics segment in 2022, the market was dominated by this sector.
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The study offers market information for North America, Europe, Asia-Pacific, and the rest of the world, organised by region. The consumer electronics and automotive sectors' growth will drive the market growth in the North American region, where the North American Audio Amplifier market area holds the second-highest market share.
The market for audio amplifiers in the Europe region is anticipated to expand quickly throughout the anticipated time frame as a result of the expanding use of amplifiers for sound in home audio systems. The deployment of these systems is being driven by ongoing technological developments in home audio systems and a rise in demand for high-performance home theatres. The UK audio amplifier market is anticipated to grow and increase significantly in the European region throughout the anticipated timeframe, while the German audio amplifier market continues to have the greatest market share.
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