The Report "Audio Amplifier Market by Channel Type (Mono, Two, Four, Six), Device (Smartphones, Television Sets, Desktops & Laptops, Home Audio Systems, Professional Audio Systems, Automotive Infotainment Systems), End-user Industry, Region - Global Forecast to 2024", is projected to grow from USD 3.4 billion in 2019 to USD 4.4 billion by 2024, at a CAGR of 5.6% during the forecast period. Major factors driving the growth of the audio amplifier market include increasing popularity of consumer electronic devices across the globe, growing traction of in-vehicle infotainment systems, rising demand for energy-efficient technologies in portable audio devices, and increasing demand for high-quality audio output.
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The audio amplifier market for home audio systems is projected to grow at the highest CAGR during the forecast period. Different types of amplifiers such as Class A, Class B, and Class AB are used in home audio systems. The growing demand for portable devices such as smart speakers, soundbars, and headphones used in home audio systems has led to the increased use of Class D architecture amplifiers as they dissipate less heat and offer extended battery life. The growing use of smartphones to stream music to smart speakers is also fueling the demand for audio amplifiers. Moreover, these devices also offer extended functionalities for live streaming of music and news, setting alarms, and ordering household supplies. Thus, increasing demand for home audio systems is contributing to the growth of audio amplifier market across the globe.
The audio amplifier market for entertainment is projected to grow at the highest CAGR from 2019 to 2024. The launch of new models of audio equipment and a significant rise in the popularity of digital equipment are factors driving the demand for professional audio equipment. The rising tendency of substantial expenditures on global festivals and music concerts is likely to propel the requirement for professional audio equipment, thereby contributing to the growth of the audio amplifier market. Increase in the number of trade shows, motion production and films, exhibitions, music concerts, and sports events is expected to lead to rise in demand for professional audio equipment. This, in turn, is likely to contribute to an increased demand for audio amplifiers to efficiently distribute sound in large venues.
The audio amplifier market in China is projected to grow at a significant rate during the forecast period. China is a global manufacturing hub for the automotive, entertainment, and consumer electronics industries. Considering its growing population and flourishing economy, it is one of the largest markets for consumer electronics such as smart speakers, professional audio systems, smartphones, and television sets. Moreover, China being a global manufacturing hub, holds immense potential for the automotive industry. These factors are expected to augment the growth of the audio amplifier market in China.
Key players operating in the audio amplifier market are STMicroelectronics (Netherlands), Texas Instruments (US), NXP Semiconductors (Netherlands), Maxim Integrated Product Inc. (US), Analog Devices (US), Cirrus Logic (US), Toshiba Electronic Devices & Storage Corporation (Japan), Infineon Technologies (Germany), ON Semiconductor Corp. (US), Qualcomm Incorporated (US), ROHM Semiconductor (Japan), Monolithic Power Systems Inc. (US), Silicon Laboratories Inc. (US), ICEPower A/S (Denmark), Nuvoton (Taiwan), Tempo Semiconductor (US), Renesas Electronics (Japan), Dialog Semiconductors (UK), Integrated Silicon Solutions Inc. (US), and Dioo Microcircuits (China).
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