According to a new report published by Allied Market Research, titled, “speaker amplifier market 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.
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 to increase vibrations to maximum extent of signals without affecting wavelength or frequency, and help improve efficiency of a system. Speaker amplifiers are also used in wireless communication as well as broadcasting.
The features of speaker amplifiers supports inbuilt applications across various product such as portable devices and vehicle & home audio systems.
The global speaker amplifier market is anticipated to witness significant growth during the period of forecast period, owing to surge in demand for consumer electronics and growth in 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, increase in demand for audio systems in public and private events across the globe also fuels growth of the market. However, technical faults and issues associated with integration of audio devices is a major restraint for the speaker amplifier market growth.
Moreover, rise in adoption of IoT technology in media & infotainment systems is expected to create opportunities for the speaker amplifier industry. In addition, increase in research and development to provide enhanced features in speaker amplifiers is expected to be opportunistic for the 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 use segment is divided into computer, 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 for 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 as compared to other regions.
Covid-19 Impact Analysis
According to the speaker amplifier market analysis due to COVID-19 has severely impacted the electronics sector as production facilities have been shut down, have significant demands in various industries. Moreover, operations of production and manufacturing industries have also impacted heavily by the outbreak of the COVID-19 disease; which has led to restricted growth of the speaker amplifier market in 2020.
Key Findings Of The Study
- The less than 5W segment is projected to witness dominant share over the forecast period.
- Phone segment is anticipated to witness highest growth rate of approx. 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 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.